DAILY AGRI COMMODITY REPORT

25 April 2016

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Market Views

2

MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL

TURMERIC

MAY 8434 8570 8434 8548 +1.09 10565

INTRADAY

LEVELS

SUPPORT SUPP. 1

8465

SUPP. 2

8381

PIVOT

8517

Turmeric short term

trend is bullish and

May continue in

coming days.RESISTAN

CE

RES. 1

8601

RES. 2

8653

CORIANDER

MAY 7191 7384 7121 7364 +2.39 5460

INTRADAY

LEVELS

SUPPORT SUPP.1

7195

SUPP. 2

7026

PIVOT

7290

Coriander short term

trend is bullish and May

continue in coming

days.RESISTAN

CE

RES. 1

7458

RES. 2

7553

GUARGUM

MAY 5990 6210 5940 6210 +3.85 20034

INTRADAY

LEVELS

SUPPORT SUPP. 1

6030

SUPP. 2

5850

PIVOT

6120

Guargum short term

trend is bullish and

May continue in

coming days.RESISTAN

CE

RES. 1

6300

RES. 2

6390

CASTORSEED

- - - - - - -

INTRADAY

LEVELS

SUPPORT SUPP. 1

-

SUPP. 2

-

PIVOT

--

RESISTAN

CE

RES. 1

-

RES. 2

-

Most Active Contract

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NCDEX INDICES

Index ValuePre.

Close

%

Change

CASTORSEED - - -

CHANA 4635 5419 +3.99

CORIANDER 7364 7192 +2.39

GUARGUM 6210 5980 +3.85

JEERA 17075 16505 +3.45

MUSTARD

SEED4562 4546 +0.35

SOYABEAN 4224 4290 -1.54

TURMERIC 8548 8456 +1.09

TOP LOSERS

SYMBOL EXPIRY DATECURRENT

PRICECHANGE

CHANGE

%

SOY BEAN 20-05-2016 4224.00 -69.00 -1.61%

TOP GAINERS

SYMBOL EXPIRY DATECURRENT

PRICECHANGE CHANGE %

GUAR GUM 20-05-2016 6210.00 230.00 3.85%

GUAR SEED 10 MT 20-05-2016 3557.00 121.00 3.52%

CHANA 20-05-2016 5543.00 163.00 3.03%

JEERA 20-05-2016 17075.00 490.00 2.95%

CORIANDER 20-05-2016 7364.00 194.00 2.71%

Commodities In News

4

ECONOMIC NEWS

The government will release 10,000 tonnes of pulses from its buffer

stocks to boost supply in the domestic market and check any price rise.The

Centre has also directed state governments to keep a close watch on the

prices and to take stringent action against hoarding of the

commodity.Although retail prices of pulses have eased from the last year's

level of Rs 200 per kg, rates are still ruling high at Rs 83-177 per kg range

in most parts of the country."The Centre has decided to release 10,000

tonnes pulses mainly tur and urad from buffer stock to ensure their

availability at reasonable prices," an official statement said.The Centre

asked the state governments to avail this benefit and utilise the available

stocks for managing the prices of pulses in their respective state.A buffer

stock of 50,000 tonnes has been created to deal with any price rise.Pulses

prices are under pressure due to fall in domestic production in the wake of

back-to-back drought.Meanwhile, the Centre has already empowered the

states to impose stock limits on the pulses to ensure easy availability.The

government agencies have made procurement of about 50,000 tonnes of

pulses from farmers during the Kharif Marketing season 2015-16 and has

contracted 25,000 tonnes of pulses for import.The government is also

initiating procurement of rabi pulses and has targeted to procure around

1,00,000 tonnes of chana and masoor to build the buffer stocks

further."SEBI has decided to implement various regulatory measures on

Chana contracts which include increase in the margin requirement to

discourage speculation and to moderate the price volatility in forward

market," the statement said.In order to encourage pulses production, the

government has already increased MSP for pulses, by Rs 275 per quintal

for tur and urad, and by Rs 250 per quintal for moong.As per the

agriculture ministry's second estimate, pulses production is estimated at

17.33 million tonnes in 2015-16 crop year (July-June), marginally higher

than the previous year's production of 17.15 million tonnes.India is the

world's largest producer of pulses, but its domestic demand outstrips

production. The shortfall is met through imports.

Turmeric on NCDEX settled flat as prices recovered from lows on

account of good physical demand and expectation of higher export

demand from the country as quality arrivals have improved in April.

Turmeric arrivals have been higher in Feb and March compared to last

year as per data. New season crop has hit the markets and continue to

peak in current month but majority of arrivals are of medium quality.As

per dept of commerce data, turmeric exports until Jan 2016 pegged at

69,864 tonnes while the export for the 2014-15 is 90,738 tonnes

compared to 77,430 tonnes in FY14. As on latest sowing data, turmeric

sowing in AP, Telangana is lower than the normal sowing. Spot

turmeric prices are decreasing daily due to negligible upcountry

demand. In the last 10 days, the finger turmeric was down by Rs. 1,000

a quintal and the root variety by Rs. 450-500.Such drastic fall in price

is due to the poor buying by North Indian traders. Around 10,500 bags

arrived for sale, including 7,500 bags of new turmeric. Turmeric prices

have turned bullish on reports of a shortfall in production in the key

growing areas of Andhra Pradesh and Maharashtra.

Jeera on NCDEX settled up due to some fresh export enquiries at the

spot market. However upside seen limited due to improving supplies

from the producing belts. Trade sources expect increased demand on

fears of crop damage because of the recent unseasonal rains. Market

players are still expecting some more export enquiries on reports of

good quality jeera production this year but the demand is still lower. As

per the final rabi sowing report, Gujarat has planted more cumin

compared to last year sowing progress.Jeera is planted in about 10.8%

more area at 2,95,400 hectares compared to 2,66,700 hectares last year

same time. As per second advance estimate of Gujarat State for 2015-

16, production is pegged at 2.11 lt higher by about 7% forecasted in

revised fourth advance estimate of 1.97 lt. In 2013-14, production was

3.46 lt. According to Dept of Commerce data, the export of jeera

during first 11 month of 2015-16 (Apr-Jan) is 71,983 tonnes compared

to 1.37 lt exported last year same period.

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Fundamental Watch : Sugar

SUGAR PRICES AT KEY SPOT MARKET National Market Update

Indian sugar exports fell by 15% as the country exported 54.6 thousand tons

of sugar last week (ending on 17th Apr, 2016) compared to 63.9 thousand tons

of export in the previous week.

Indonesia’s sugar production is expected to decline to 2.5 MT amid El Nino

related weather factors prevailing during the year 2016 .

5 sugar mills in Andhra Pradesh had produced 8.10 lakh tons of sugar in

2015-16 (01st Oct, 2015 – 15th Apr, 2016) which was 7.43% less than the

sugar produced last year in 2014-15 (01st Oct, 2014 – 15th Apr, 2015).

Sugar production rose by 12.12% in Tamil Nadu which produced 9.25 lakh

tons of sugar in 2015-16 (01st Oct, 2015 – 15th Apr, 2016) compared to 8.25

lakh tons of production in 2014-15 (01st Oct, 2014 – 15th Apr, 2015).

With a view to control soaring sugar prices, Agriculture ministry asked state

government to put stock limit on sugar. Though final notification is still

pending.

Indian sugar production fell by 8.02% as the country produced 243.44 lakh

tons of sugar in 2015-16 (01st Oct, 2015 – 15th Apr, 2016) compared to

264.68 lakh tons of production in 2014-15 16 (01st Oct, 2014 – 15th Apr,

2015).

CENTER 22-Apr-15 21-Apr-15 Change

DELHI 3600 3675 -75

MUMBAI 3766 3766 UNCH

VIJAYWADA 4000 4000 UNCH

NAGPUR NR NR -

CHENNAI 3550 3550 UNCH

AMBIKAPUR 3035 3035 UNCH

DHAMPUR Closed NA -

Technical Outlook

6

BUY CORIANDER MAY ABOVE 7384 TARGET 7429 7529 SL

BELOW 7319

BUY GUARGUM MAY ABOVE 6210 TARGET 6260 6330 SL

BELOW 6150

BUY TURMERIC MAY ABOVE 8570 TARGET 8614 8674 SL

BELOW 8510

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