Epic Research Daily Agri Report 02 FEB 2016

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7/25/2019 Epic Research Daily Agri Report 02 FEB 2016 http://slidepdf.com/reader/full/epic-research-daily-agri-report-02-feb-2016 1/7 DAILY AGRI COMMODITY REPORT 02 February 2016 HNI & NRI Sales Contact Australia Mintara Road, Tarneit, Victoria. Post Code 3029 Phone.: +61 422 063855 HNI & NRI Sales Contact USA 2117 Arbor Vista Dr. Charlotte (NC) Cell: +1 704 249 2315 Toll Free Number 1-800-200-9454 All queries should be directed to [email protected] 1 Epic Research India 411 Milinda Manor (Suites 409- 417) 2 RNT Marg. Opp Central Mall Indore (M.P.) Hotline: +91 731 664 2300 Alternate: +91 731 664 2320 Or give us a missed call at 026 5309 0639 Our Presence YOUR MINTVISORY Call us at 91-731-6642300

Transcript of Epic Research Daily Agri Report 02 FEB 2016

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DAILY AGRI COMMODITY REPORT

02 February 2016

HNI & NRI Sales Contact Australia

Mintara Road, Tarneit, Victoria. Post Code 3029

Phone.: +61 422 063855

HNI & NRI Sales Contact USA

2117 Arbor Vista Dr. Charlotte (NC)

Cell: +1 704 249 2315

Toll Free Number

1-800-200-9454

All queries should be directed to

[email protected]

1

Epic Research India

411 Milinda Manor (Suites 409- 417)

2 RNT Marg. Opp Central Mall

Indore (M.P.)

Hotline: +91 731 664 2300Alternate: +91 731 664 2320

Or give us a missed call at

026 5309 0639

Our Presence

YOUR MINTVISORY Call us at 91-731-6642300

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Market Views

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

TURMERIC

APR 8198 8454 8190 8398 +2.41 11035

INTRADAY

LEVELS

SUPPORT SUPP. 1

8210

SUPP. 2

8023

PIVOT

8377

Turmeric short term

trend is bullish and

May continue in

coming days.RESISTAN

CE

RES. 1

8565

RES. 2

8733

CORIANDER

APR 6205 6405 6170 6330 +1.52 5840

INTRADAY

LEVELS

SUPPORT SUPP.1

6198

SUPP. 2

6067

PIVOT

6302

Coriander short term

trend is bullish and May

continue in coming

days.RESISTAN

CE

RES. 1

6433

RES. 2

6537

GUARGUM

FEB 5640 5650 5480 5570 -1.24 15269

INTRADAY

LEVELS

SUPPORT SUPP. 1

5483

SUPP. 2

5397

PIVOT

5567

Guargum short term

trend is bearish and

May continue in

coming days.RESISTAN

CE

RES. 1

5653

RES. 2

5737

CASTORSEED

FEB - - - - - -

INTRADAY

LEVELS

SUPPORT SUPP. 1

-

SUPP. 2

-

PIVOT

--

RESISTANCE

RES. 1

-

RES. 2

-

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Most Active Contract

3

NCDEX INDICES

Index ValuePre.

Close

%

Change

CASTORSEED - - -

CHANA 4065 4190 -2.98

CORIANDER  6330 6235 +1.52

GUARGUM 5570 5640 -1.24

JEERA 13150 13395 -1.83

MUSTARD

SEED3837 3829 +0.21

SOYABEAN 3760 3726 +0.91

TURMERIC 8398 8200 +2.41

TOP LOSERS

SYMBOL EXPIRY DATECURRENT

PRICE CHANGECHANGE

%

CHANA 20-04-2016 4065.00 -177.00 -4.17%

JEERA 18-03-2016 13150.00 -330.00 -2.45%

RAPESEED-MUSTARD

SEED20-04-2016 3837.00 -46.00 -1.18%

SOYABEAN 19-02-2016 3760.00 -34.00 -0.90%

COTTON SEED OIL CAKE

AKOLA19-02-2016 2014.00 -5.00 -0.25%

TOP GAINERS

SYMBOL EXPIRY DATE

CURRENT

PRICE CHANGE CHANGE %

TURMERIC 20-04-2016 8398.00 298.00 3.68%

CORIANDER 20-04-2016 6330.00 55.00 0.88%

BARLEY 20-04-2016 1429.50 12.50 0.88%

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Commodities In News

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ECONOMIC NEWS

Highlighting benefits of the just-announced Crop Insurance Scheme,

Prime Minister Narendra Modi said awareness about it should be spread

across the country so that at least 50 per cent of the farmers join it within

two years.In his monthly radio programme 'Mann Ki Baat', he also pitched

for continued efforts to popularise Khadi and awarness to save the girl

child, mentioned about the recently launched 'Start-Up India' programme

and talked about the upcoming International Fleet Review to be held in

Visakhapatnam.Modi said he needs the "maximum help" from people

about spreading awareness regarding the Pradhan Mantri Crop Insurance

Scheme which was launched earlier this month."In our country, a lot is said

in the name of farmers. I don't want to get involved in that debate. But

farmers face a major crisis. In natural calamity, their entire effort goes

waste. His one year goes waste. To give him security, only one thing

comes to mind and that is crop insurance," he said in this year's first editionof the monthly radio programme."In (the New Year) 2016, the central

government has given a big gift to the farmers -- Pradhan Mantri Crop

Insurance Scheme. This scheme has been brought not for the purpose that it

should be praised or the Prime Minister should be hailed," he said.The

Prime Minister said that for so many years, there has been talk regarding

crop insurance but "not more than 20-25 per cent" of the country's farmers

had been been able to benefit from such schemes."Can we take a pledge

that we should connect at least 50 per cent of the farmers to this scheme in

two years? I need this help from you. Because if a farmer joins the scheme,

he will get huge help during a natural calamity," he said.Modi said this

t ime, the scheme has got "wide acceptability because it has been made

quite extensive and easy and involves use of technology. Not only this. If 

something happens to the crop within 15 days after harvest, even then help

is assured."Usage of technology will ensure speedy assessment and

disbursement of compensation, he said."The biggest thing is that the rate of 

 premium has been kept so low which nobody would have imagined. The

rate of premium for Kharif crop has been kept 2 per cent while for Rabi

crop it is one-and-a-half per cent.

Mustard seed prices ended with losses on an oversupply woes in

domestic and international market. Prices of mustard seed were under 

 pressure as the government of Rajasthan, India's biggest producer, has

raised its mustard seed production estimate to 3.5 million ton compared

to 2.9 million ton in last season.Mustard production in the country may

rise by 10 per cent to 5.5 million tonnes this year on account of  

favorable weather conditions in last few days. The cold weather  

conditions have picked up in the northern and central India, which is

good for standing mustard crop. Some winter showers have also given

a breather to the farmers, as a drop in temperature benefits the standing

crops. Currently, the mustard crop is at flowering stage and the

flowering in mustard is higher by 10-15 per cent as compared to last

year.India's mustard output is expected to grow for the first time in

three years this season, government estimates show, as falling

temperatures, light rains and the absence of crop-damaging frost raisefarmers' hopes after two years of drought.

Ref Soya oil settled down on over supply following higher imports

data. As per latest SEA data, edible oils import rose to 14.07 lt in

December last year from 11.23 lt in December 2014. However, imports

of non-edible oils fell to 11,467 tonnes from 17,996 tonnes in the year-

ago period. Earlier, the Agriculture Ministry has proposed further hike

in import duty of edible oils by 5 per cent in a bid to protect the interest

of farmers, but the decision is still pending. The Ministry has proposed

increase in import duty on crude edible oils to 17.5 per cent and onrefined edible oils to 25 per cent from the existing level.In order to curb

imports and protect domestic oilseeds farmers and processing mills, the

government had in September last year raised import duty on crude

edible oils to 12.5 per cent from 7.5 per cent, while the duty on refined

edible oils was increased to 20 per cent from 15 per cent. India's total

oilmeal exports slipped to 59,818 tons in December compared to

410,178 tons a year earlier, on weak demand from South Korea,

Thailand, Vietnam, and Taiwan.

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Fundamental Watch : Cotton

COTTON PRICES AT KEY SPOT MARKETNational Market Update

The government should not consider any proposal to relax duty and tax on

the import of cotton from India, said the Pakistan Cotton Ginner Association

(PGCA) as the same could hurt the domestic market by dumping of cheap rawmaterial. It should be noted that government of Pakistan had imposed 10 per 

cent duty on imports of cotton yarn, grey and processed fabric specially

coming from India which was effective from November 01, 2015.

A nine member committee has been constituted by central government to

execute the cotton price control order that will set the prices famers pay to

seed companies to get cotton seeds. However the seed companies including

Mahyco Monsanto are not happy with the decision of setting Maximum Sale

Price (MSP) by government.

Major importer of Indian cotton during the week was Bangladesh.

According to the data released by IBIS, Bangladesh imported 0.27 lakh bales

of cotton in the past week (i.e. 18 Jan-24 Jan 2016). Other major importers

were Pakistan, China, Vietnam and Indonesia and their imported volumes

were 0.26 lakh bales, 0.11 lakh bales, 0.07 lakh bales and 0.05 lakh bales

respectively. India imported cotton mainly from Australia, USA Tanzania

followed by Turkmenistan and Togo. The respective volumes these countriesexported to India during the week are 0.067 lakh bales, 0.020 lakh bales, 0.009

lakh bales, 0.007 lakh bales, 0.001 Lakh Bales.

Cotton production in Andhra Pradesh is likely to fall by around 20% in the

current season to 22.18 lakh bales as compared to the 27.51 lakh bales a year 

ago, according to the second advance estimates released by the State

Agriculture Department. However according to the cotton association of India,

cottonproduction in the state would be around 26 lakh bales.

CENTER 01-Feb-15 30-Jan-15 Change

RAJKOT 4880 4835 +45

BHIWANI 4850 4850 UNCH

ADAMPUR 4750 NR -

AHMEDABAD 4800 4800 UNCH

GONDAL 4975 4810 +165

GUNTUR NA NA -

RAICHUR NA NA -

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Technical Outlook 

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BUY CORIANDER APR ABOVE 6410 TARGET 6455 6605 SL

BELOW 6345

SELL GUARGUM FEB BELOW 5500 TARGET 5450 5380 SL

ABOVE 5560

BUY TURMERIC APRIL ABOVE 8430 TARGET 8474 8534 SL

BELOW 8370

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