7/24/2019 Epic Research Daily Agri Report 24th FEB 2016

http://slidepdf.com/reader/full/epic-research-daily-agri-report-24th-feb-2016 1/7

DAILY AGRI COMMODITY REPORT

24 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

Info@epicresearch.co

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

7/24/2019 Epic Research Daily Agri Report 24th FEB 2016

http://slidepdf.com/reader/full/epic-research-daily-agri-report-24th-feb-2016 2/7

Market Views

2

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

TURMERIC

APR 8888 8974 8708 8756 -1.17 11905

INTRADAY

LEVELS

SUPPORT SUPP. 1

8651

SUPP. 2

8547

PIVOT

8813

Turmeric short term

trend is bearish and

May continue in

coming days.RESISTAN

CE

RES. 1

8917

RES. 2

9079

CORIANDER

APR 6495 6510 6259 6294 -2.18 7530

INTRADAY

LEVELS

SUPPORT SUPP.1

6199

SUPP. 2

6103

PIVOT

6354

Coriander short term

trend is bearish and May

continue in coming

days.RESISTAN

CE

RES. 1

6450

RES. 2

6605

GUARGUM

MAR 5790 5790 5610 5660 -2.08 12934

INTRADAY

LEVELS

SUPPORT SUPP. 1

5583

SUPP. 2

5507

PIVOT

5687

Guargum short term

trend is bullish and

May continue in

coming days.RESISTAN

CE

RES. 1

5763

RES. 2

5867

CASTORSEED

- - - - - - -

INTRADAY

LEVELS

SUPPORT SUPP. 1

-

SUPP. 2

-

PIVOT

--

RESISTANCE

RES. 1

-

RES. 2

-

7/24/2019 Epic Research Daily Agri Report 24th FEB 2016

http://slidepdf.com/reader/full/epic-research-daily-agri-report-24th-feb-2016 3/7

Most Active Contract

3

NCDEX INDICES

Index ValuePre.

Close

%

Change

CASTORSEED - - -

CHANA 4143 4226 -1.96

CORIANDER  6264 6434 -2.18

GUARGUM 5660 5780 -2.08

JEERA 14220 14085 +0.96

MUSTARD

SEED3911 3939 -0.71

SOYABEAN 3716 3739 -0.62

TURMERIC 8756 8860 -1.17

TOP LOSERS

SYMBOL EXPIRY DATE CURRENTPRICE

CHANGE CHANGE%

CORIANDER 20-04-2016 6294.00 -144.00 -2.24%

CHANA 20-04-2016 4143.00 -85.00 -2.01%

TURMERIC 20-04-2016 8756.00 -144.00 -1.62%

SOYABEAN 18-03-2016 3716.00 -30.00 -0.80%

RAPESEED-MUSTARD

SEED20-04-2016 3911.00 -27.00 -0.69%

BARLEY 20-04-2016 1410.00 -9.00 -0.63%

COTTON SEED OIL CAKE

AKOLA

18-03-2016 2117.00 -1.00 -0.05%

TOP GAINERS

SYMBOL EXPIRY DATECURRENT

PRICECHANGE CHANGE %

JEERA 18-03-2016 14220.00 135.00 0.96%

7/24/2019 Epic Research Daily Agri Report 24th FEB 2016

http://slidepdf.com/reader/full/epic-research-daily-agri-report-24th-feb-2016 4/7

Commodities In News

4

ECONOMIC NEWS

Government is setting up a national online agriculture market platform to

connect 585 regulated wholesale markets to ensure fair remunerative prices

for the farmers, President Pranab Mukherjee said.Addressing the joint

sitting of Parliament, he said 'Kisaano ki Samriddhi', the well-being of 

farmers, is vital to India's prosperity."To provide the best market price to

farmers, the unified National Agriculture Market is working towards

setting up a common e-market platform to connect 585 regulated wholesale

markets, thereby making India, One Food Zone, One Country, One

Market."This will immensely benefit our farmers in getting fair and

remunerative prices. Targeted policy interventions in the last year have

 brought down sugar cane arrears from over Rs 21,000 crore to Rs 1,800

crore," President said.Mukherjee said the government has taken several

steps for welfare of farmers, like Pradhan Mantri Fasal Bima Yojna, whichis the biggest ever government contribution to crop insurance with the

lowest ever premium rates for farmers.He said soil health cards will be

issued to 14 crore farm holdings by March 2017.To promote organic

farming, the President said Parampragat Krishi Vikas Yojna is being

implemented under which 8,000 clusters have been developed so far.The

government, he said, has also launched Pradhan Mantri Krishi Sinchai

Yojna, New Urea Policy and several steps were being take to usher in

"second green revolution' for the eastern states.Mukherjee further said the

food processing fund has been operationalised with a view to provide

affordable credit to designated food parks."In the last 10 months, five new

Mega Food Parks have been operationalised. Under the Cold Chain

Scheme, 33 projects have been made operational during the last 18

months," he said.He said Shyama Prasad Mukherji Rurban Mission has

also been launched for 300 rural growth clusters for developing skills and

local entrepreneurship and providing infrastructure amenities.

Turmeric settled up due to estimation of lower output at the

 producing belts. Though arrivals are comfortable at present output is

expected to fall by 13% due to adverse weather and lower acreage.

Stockists and traders are buying good quality turmeric on anticipation

of industrial and export demand in coming months. Turmeric output is

expected around 5 million bags and carry forward stocks are estimated

around 2.5 million bags.During the first six months of this fiscal, India

exported 46,500 ton turmeric as against 44,406 ton a year ago because

of increased demand from Gulf countries. India's 2014-15 turmeric

export stood at 86,000 ton up from 77,500 ton a year ago. The sale of 

turmeric in Erode markets has increased. Many traders have started

 buying the turmeric in large scale though they are getting limited

demand from North India. Some traders are keen in buying only the

new turmeric and some procured the hybrid turmeric. Around 400 bags

of turmeric including 900 bags of new crop arrived and 70 per cent of the stocks were sold. Some 10 bags of hybrid turmeric arrived and

fetched Rs. 10,066 a quintal. But other varieties were sold for Rs.

9,600-9,700.

Chana settled down on expectation of higher arrivals of chana in

coming months on higher production estimates by the government.

Though, surging domestic demand capped some losses. Pulses output is

expected marginally up at 17.33 million tons thanks to higher output of 

chana (Gram). This year total production of chana is expected to be

8.09 tons, higher as compared to last year 7.33 million tons.Meanwhile,Government is taking every possible step for controlling the price rise

in futures and for that union government is increasing import of pulses.

MMTC has issued its first tender for the import of tur under which

5,000 tons of tur have to be imported and it should be reach into the

country before the end of April. As per tender, around 2500 tons of tur 

will be delivered at Mumbai port, while the remaining 2,500 tons are

scheduled to be delivered at the Chennai port. Also, According to

department of agriculture & cooperation (DAC), total production of 

 pulses in year 2015-16 is expected to increase by 7% to 18.32milliontons.

7/24/2019 Epic Research Daily Agri Report 24th FEB 2016

http://slidepdf.com/reader/full/epic-research-daily-agri-report-24th-feb-2016 5/7

5

Fundamental Watch : Chana

CHANA PRICES AT KEY SPOT MARKETNational Market Update

Department of Agriculture has revised down Tur production estimate to 2.55

MMT from targeted estimate of 3.67 MMT. Despite higher coverage area, tur 

 production has been lowered down due to lower yield expectation. AgriwatchTur production estimate is around 2.49 MMT.

According to the Second Advance Estimate by Government, Gram

 production estimate has been revised down to 8.09 MMT from targeted

estimate of 9.50 MMT. Gram production estimate has been lowered due to

lower area coverage against higher coverage expectation .AW estimate is

around 7.89 MMT, even lower by 0.20 thousand tonne from government

current estimate.

According to IBIS (provisional data), import of pulses in the week (08 Feb-

14 Feb) was around 107 Thousand tonnes at major ports in India, around 10%

lower than previous week’s (01 Feb-07 Feb) import of 119 Thousand tonnes.

Chana, Cow Pea, Masoor, Urad and Moong were imported lower this week 

whereas Green Pea, Kidney Bean, Pigeon Pea and Yellow Pea were imported

higher as compared to last week.

According to the latest inflation update released by Government of India,Pulses Monthly Wholesale Price Index for the month of January is 370.1

which are around 2.1 % lower than the month of December. In month of  

December Wholesale Price Index was 378.2.

CENTER 23-Feb-15 22-Jan-15 Change

AHMEDNAGAR 4100 4200 -100

ALWAR NA 4400 -

GWALIOR 4200 4325 -125

JAIPUR 4500 4500 UNCH

KANPUR 4850 4750 +100

 NAGPUR 4000 3950 +50

VIJAYWADA 4800 4725 +75

7/24/2019 Epic Research Daily Agri Report 24th FEB 2016

http://slidepdf.com/reader/full/epic-research-daily-agri-report-24th-feb-2016 6/7

Technical Outlook 

6

SELL CORIANDER APR BELOW 6262 TARGET 6217 6067 SL

ABOVE 6327

BUY GUARGUM MAR ABOVE 5680 TARGET 5730 5800 SL

BELOW 5620

SELL TURMERIC APRIL BELOW 8720 TARGET 8676 8616 SL

ABOVE 8780

7/24/2019 Epic Research Daily Agri Report 24th FEB 2016

http://slidepdf.com/reader/full/epic-research-daily-agri-report-24th-feb-2016 7/7

Disclaimer 

The information and views in this report, our website & all the service we provide are believed to be reliable, but we do not accept any

responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most.

Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis andup on sources that we consider reliable. This material is for personal information and based upon it & takes no responsibility.

The information given herein should be treated as only factor, while making investment decision. The report does not provide

individually tailor-made investment advice. Epic research recommends that investors independently evaluate particular investments

and strategies, and encourages investors to seek the advice of a financial adviser. Epic research shall not be responsible for any

transaction conducted based on the information given in this report, which is in violation of rules and regulations of NSE and BSE.

The share price projections shown are not necessarily indicative of future price performance. The information herein, together with all

estimates and forecasts, can change without notice. Analyst or any person related to epic research might be holding positions in the

stocks recommended. It is understood that anyone who is browsing through the site has done so at his free will and does not read any

views expressed as a recommendation for which either the site or its owners or anyone can be held responsible for. Any surfing and

reading of the information is the acceptance of this disclaimer. All Rights Reserved.

Investment in equity & bullion market has its own risks.

We, however, do not vouch for the accuracy or the completeness thereof. we are not responsible for any loss incurred whatsoever for

any financial profits or loss which may arise from the recommendations above epic research does not purport to be an invitat ion or an

offer to buy or sell any financial instrument. Our Clients (Paid Or Unpaid), Any third party or anyone else have no rights to forward or

share our calls or SMS or Report or Any Information Provided by us to/with anyone which is received directly or indirectly by them. If

found so then Serious Legal Actions can be taken.