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TABLE OF CONTENT
INTRODUCTION
OVERVIEW OF NCDEX
IMPRESSIVE GROWTH OF AGRI COMMODITY
KEY SHAREHOLDER OF NCDEX
FACTOR AFFECTING THE PRICE OF AGRI COMMODITY
PRODUCT OF NCDEX
TECHNICAL VIEW OF AGRI COMMODITY
CONCLUSION
www.theequicom.com 09200009266
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INTODUCTION:National Commodity & Derivatives Exchange Limited (NCDEX): is an online commodity exchange based in India, it is a nation-level, technology driven on-line commodity Exchange with an independent Board of Directors and professional management. It is committed to provide a world-class commodity Exchange platform for market participants to trade in a wide spectrum of commodity derivatives driven by best global practices, professionalism and transparency. The NCDEX Commodity Index is an equal-weighted spot price index of 20 agricultural commodities covering different groups such as oil And oilseeds, pulses, Spices, fibers, etc. It is the first such index to be launched in India. Based on the components of the spot price index, NCDEX also displays the national index futures- essentially, the no-arbitrage price if one were to buy futures on the spot index. This price is derived by tracking the futures prices of the index components at the same weight age as the spot index. Currently, index futures are not allowed in India under the FCRA (Forward Contracts Regulation Act, 1952), which requires compulsory physical settlement of futures contracts. National Commodity and Derivative Exchange of India is a de-metalized online commodity exchange of India promoted by NSE, ICICI Bank, LIC, PNB, CRISIL, NABARD IFFCO and Canara Bank
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OVERVIEW OF NCDEX
NCDEX offers futures trading in 31 agri and non-agri commodities.
Ncdex had 848 registered members and client base of @ 20 Lakh as on 31 July 2013. Trading conducted on more than 49,000 terminals across 1000 centers in India as on 31 July 2013 Facilitates deliveries of commodities through a network of over 594 accredited warehouses through 8 Warehouse Service Providers with holding capacity of around 1.5 million tones
Average deliveries of 1 lakh MT at every contract expiry; Average delivery ratio for Q1 of financial year 2013-14 is 98 % Exchange for Physicals. Recently announced EFP (Exchange for Physicals) facility in 18 contracts traded on the Exchange platform, which will help trade participants in addressing their counterparty and business risks inherent in the bilateral transactions in the physical market.
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IMPRESSIVE GROWTH OF AGRI

India ranks second worldwide in farm output. Agriculture and allied sectors like forestry, logging and fishing accounted for 16.6% of the GDP in 2011, employed 50% of the total workforce and despite a steady decline of its share in the GDP, is still the largest economic sector and plays a significant role in the overall socio-economic development of India. Yields per unit area of all crops have grown since 1950, due to the special emphasis placed on agriculture in the five-year plans and steady improvements in irrigation, technology, application of modern agricultural practices and provision of agricultural credit and subsidies since the green revolution. India is the largest producer in the world of milk, cashew nuts, coconuts, tea, ginger, turmeric and black pepper. It is the second largest producer of wheat, rice, sugar, groundnut and inland fish. It is the third largest producer of tobacco. India accounts for 10% of the world fruit production with first rank in the production of banana and sapota.
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KEY SHAREHOLDER OF NCDEX

Jaypee Capital Renuka Sugars Life Insurance Corporation of India (LIC) National Bank for Agriculture and Rural Development (NABARD) National Stock Exchange of India (NSE) Punjab National Bank (PNB) CRISIL Limited (formerly the Credit Rating Information Services of India Limited) Indian Farmers Fertilizer Cooperative Limited (IFFCO) Canara Bank Goldman Sachs Intercontinental Exchange (ICE) Build India Capital Advisors LLP
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FACTORS AFFECTING PRICE OF AGRI COMMODITY
Global and Domestic Production /Demand.
Government policy with regard of imports and exports.
Climatic conditions and Rainfall.
Daily Arrivals and trades in the cash market.
International Market Price parity.
Year ending stocks and stocks-to-consumption ratio.
Cost of Carry components (Warehousing, Demat charges)
Spot Prices
Daily Margins
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PRODUCT STRUCTURE OF NCDEX

AGRI PRODUCT NON AGRI PRODUCT
Cereals and pulses: - Barley, Chana,

Maize, Wheat
METALS: - Steel, Copper ENERGY: Crude oil, Brent crude oil
SPICES: - Pepper, Turmeric, Jeera, Chilli, Coriander OIL AND OILSEED:- Soybean, Refined Soy Oil, Castor seed, Mustard Seed, RM Seed, Cotton Seed Oilcake, RBD Palmolein, Mentha oil. OTHER: - Kapas, Sugar, Gur, Rubber, Poteto Guarseed, Guargum,
PRICEOUS METALS: - Gold, Gold (100), silver, Silver (5kg)
OTHER OTHERS: - Polyvinyl Chloride
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SOYBEAN
SCENARIO:- Soybean is called as Golden Bean. The plant is classed as an oilseed and
is an important global crop, India, USA, Brazil, Argentina AND China are the largest soybean producing countries in the world. Soybean is largest grown oilseeds in the world, among major oilseeds, higher percentage of meal extracted from Soybean 82%. The Prices of soybean determined by demand and supply of oil and meal.
TECHNICAL OUTLOOK
The trend in NCDEX soybean November delivery looks positive and further up-tick is expected for near term. Support for the commodity is seen at 3350 while resistance at 3710 level. Traders are advised to buy on dips around 3390 with the stop loss of 3350 for the target of 3685, according to our analyst at Theequicom.
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REFINED SOY OIL
SCENARIO : - Soy oil prices in India are largely influenced by the international edible
oil price movements (especially palm oil at BMD and soy oil at CBOT) and spot markets of Indore and Mumbai serve as the 'reference' market for Soy oil prices. While the Indore price reflects the domestically crushed soybean oil, Mumbai price indicates the imported soy oil price.
TECHNICAL OUTLOOK
The trend in NCDEX Refined soy oil November delivery looks positive and further up-tick is expected for near term. Support is seen at 648 while resistance is seen at 705 levels. Traders may buy around 655 with the stop loss of 648 for the target of 695, according to our analyst at Theequicom.
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CHANA
SCENARIO:India is the largest producer of chickpea (Chana) followed by Pakistan, Turkey and Iran. India produces around 6 to 8 million tones and contributes around 70% of the total world production. Chickpea (Chana) is the most largely produced pulse crop in India accounting to a share of 40% of the total pulse production. India produces mostly the Desi type chickpeas.
TECHNICAL OUTLOOK
NCDEX chana for November delivery looks consolidate for near term. Resistance: 3170, 3255 Support: 2750,2585 Break out of any of the sides of the range 28503110 is expected to give clear direction to the commodity prices in the near term, according to our analyst at Theequicom.
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TURMERIC
SCENARIO:India is the world's largest producer of turmeric and produces nearly 8085% of world's total production, which stands at around 6.0 lakh MT to 7.0 lakh MT per year. Major producers in India are Andhra Pradesh, Tamilnadu, Orissa, West Bengal, Karnataka, and Maharashtra. India is the worlds leading exporter, prime export destinations being UAE, USA, Bangladesh, Sri Lanka, Japan, Malaysia, UK,
TECHNICAL OUTLOOK
Technically the trend in the turmeric looks positive and is likely to continue with the trend for near term. Support is seen at 4555 while resistance is seen at 4945 level. Traders may buy around 4880 with the stop loss of 4780 for the target of 5050, according to our analyst at Theequicom.
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Coriander
SCENARIO:Global production of coriander is about 2.9 lakh MT to 3.35 lakh MT per years. India contributes around 80% of world coriander production and produces around 2.5-3.0 lakh MT annually, Other major producers are Morocco, Canada, Pakistan, Romania. Major importers are Indonesia, Singapore, Sri lanka, UAE and USA. Rajasthan (60%) is the major producer of coriander in India
TECHNICAL OUTLOOK
The trend in NCDEX dhaniya November delivery looks positive and further up-tick is expected for near term. Support is seen at 5360 while resistance is seen at 6245 level. Traders may buy around 5485 with the stop loss of 5360 for the target of 6195, according to our analyst at Theequicom.
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Conclusion:This report is based on our best research and various information of different informative sites and important data. In this report we describe Technical view of Agri commodity and key factors that affecting price of Agri commodity. NCDEXs ability to use and apply technology efficiently is a key factor in the development of its business. NCDEX has been continuously raising the bar through effective research and product development, intelligent use of information and technology, innovation, thought leadership and ethical business conduct. NCDEX has more than 10 key share holders that plays important role.
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Disclaimer
ABOUT THE EQUICOM
The Equicom Financial Research Pvt. Ltd. is India's largest independent, integrated research house. We leverage our unique, integrated research platform and capabilities spanning the entire economy-industry-company spectrum to deliver superior perspectives and insights to over 350 domestic clients, through a range of subscription products and customized solutions. The Equicom Financial Research Pvt Ltd has taken due care and caution in preparing this Report. Information has been obtained by The Equicom Financial Research Pvt. Ltd. from sources which it considers reliable. However the Equicom Financial Research Pvt. Ltd. Does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or for the results obtained from the use of such information. The Equicom Financial Research Pvt. Ltd. is not liable for investment decisions which may be based on the views expressed in this Report. The Equicom especially states that it has no financial liability whatsoever to the subscribers/ users/ transmitters/ distributors of this Report. The Equicom Financial Research Pvt. Ltd. Operates independently of, and does not have access to information obtained by The Equicom Financial Research Pvt. Ltd Division, which may, in its regular operations, obtain information of a confidential nature which is not available to The Equicom Financial Research Pvt. Ltd. No part of this Report may be published/reproduced in any form without The Equicom prior written approval.
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TABLE OF CONTENT

IMPRESSIVE GROWTH OF AGRI COMMODITY

KEY SHAREHOLDER OF NCDEX

FACTOR AFFECTING THE PRICE OF AGRI COMMODITY

TECHNICAL VIEW OF AGRI COMMODITY

IMPRESSIVE GROWTH OF AGRI

KEY SHAREHOLDER OF NCDEX

FACTORS AFFECTING PRICE OF AGRI COMMODITY

Global and Domestic Production /Demand.

Government policy with regard of imports and exports.

Climatic conditions and Rainfall.

Daily Arrivals and trades in the cash market.

International Market Price parity.

Year ending stocks and stocks-to-consumption ratio.

Cost of Carry components (Warehousing, Demat charges)

PRODUCT STRUCTURE OF NCDEX

Cereals and pulses: - Barley, Chana,

METALS: - Steel, Copper ENERGY: Crude oil, Brent crude oil

PRICEOUS METALS: - Gold, Gold (100), silver, Silver (5kg)

OTHER OTHERS: - Polyvinyl Chloride

REFINED SOY OIL

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