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DAILY AGRI COMMODITY REPORT

09 December 2014

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Market Views
MONTH

OPEN

HIGH

LOW

CLOSE

% CHG

VOL

MONTH

OPEN

HIGH

DHANIYA

JAN

13020

13290

13020

SUPPORT

SUPP.1

SUPP. 2

13104

12927

13281

13197
RESISTAN
CE

RES. 1

RES. 2

13374

13467

+1.92

6820

Dhaniya short term
trend is down, further
more downside is
expected in comimg
days.

JAN

4558

4590

4485

SUPPORT

SUPP. 1

SUPP. 2

4496

4439

7376

7478

7366

SUPPORT

SUPP. 1

SUPP. 2

7374

7308

7440

7426
RESISTAN
CE

RES. 1

RES. 2

7492

7544

% CHG

VOL

-

85400

PIVOT

LEVELS

4543
RESISTAN
CE

RES. 1

RES. 2

4600

4647

Castorseed short term
trend is down, Prices
expected to go down in
coming days.

GUARGUM

PIVOT

INTRADAY
LEVELS

4553

INTRADAY

TURMERIC

APR

CLOSE

CASTORSEED

PIVOT

INTRADAY
LEVELS

LOW

+1.09

4030

Turmeric short term
trend is down and may
continue in coming
days.

JAN

13220

13220

12780

SUPPORT

SUPP. 1

SUPP. 2

12640

12450

12830

PIVOT

INTRADAY
LEVELS

12970
RESISTAN
CE

RES. 1

RES. 2

13160

13490

-3.53

7142

Guargum Short term
trend is down,
Expecting price may go
down in coming days.

2

Most Active Contract
TOP LOSERS

NCDEX INDICES

SYMBOL

EXPIRY DATE

CURRENT
PRICE

CHANGE

CHANGE
%

BARLEY

19-12-2014

1647.00

-11.00

-0.66%

CORIANDER

19-12-2014

12785.00

-66.00

Index

Value

Pre.
Close

%
Change

CASTORSEED

4553

4553

0

CHANA

3141

3044

3.22

CORIANDER

13281

13031

1.92

GUARGUM

12830

13300

-3.53

JEERA

12975

12610

2.89

MUSTARD SEED

4096

3939

3.99

SOYABEAN

3339

3294

1.37

TURMERIC

7440

7360

1.09

-0.51

TOP GAINERS
SYMBOL

EXPIRY DATE

CURRENT
PRICE

CHANGE

CHANGE
%

RAPESEED-MUSTARD SEED

19-12-2014

4057.00

159.00

4.08%

CHANA

19-12-2014

3086.00

106.00

3.56%

JEERA

19-12-2014

12730.00

320.00

2.58%

REFINED SOY OIL

19-12-2014

581.60

11.50

2.02%

SOYABEAN

19-12-2014

3282.00

55.00

1.70%

COTTON SEED OIL CAKE
AKOLA

19-12-2014

1364.00

10.00

0.74%

TURMERIC

19-12-2014

6408.00

28.00

0.44%

GUR

19-12-2014

944.00

4.00

0.43%

3

Commodities In News
Chana futures were trading up on Monday but the overall tone
remains bearish for the pulse. Higher availability of imported chick
peas and liquidation on higher levels are negative factor for the
prices.Chana january contract gained 3.22% to 3141 levels on Monday
at India's National Commodity & Derivatives Exchange Limited
(NCDEX).Dry weather is expected to continue over major growing
belts of central and Northwest India and south central India.Sowing
area under chana has reached 63.85lakh hectare as on Nov 29 which is
-15.75% lower as against last year. The acreage under Rabi pulses has
reached 32.08lakh hectare which is 2.59% higher than previous year.
Chickpea/Chana production has been revised down in Australia to 435
thousand tonnes in the latest production estimates by the Australian
Agricultural Department released on December 02, 2014. The
production shall be -31.17% lower year on year while estimate has
been revised down by around 6% from the earlier crop production
estimate during September 2014.
Jeera futures resumed up movement on Monday lead by strong
buying support amid weak sowing cues. The NCDEX Jeera benchmark
January delivery ended the last day at Rs 12,975, up Rs 365 or 2.89%.
As per market sources, poor realization from Jeera crop in the current
year coupled with delay in kharif harvesting in major producing areas
will reduce Jeera sowing in the current year. The total sowing area is
likely to decline by 20-25 percent in the current year as cultivators are
planning to shift towards other lucrative crop. Moreover, receding
supplies of Jeera in major mandies will also provide some support to
futures prices. The total daily arrivals 7-8 thousand bags have been
reported in major mandies, down 4 thousand bags from the last week's
average daily arrivals.Jeera rose more than 3.4% in the intraday trading
to the session high of Rs 13040 per quintal. The counter closed the day
at Rs 12,975, up Rs 365 or 2.89% and the open interest added 477
tonnes to 7,518 tonnes, indicating fresh buying.

ECONOMIC NEWS
The cotton price crash has dealt with a heavy blow to the
farmers in India. The desperate farmers are selling cotton at
throwaway prices due to the lower price regime and poor
yield.Prices are ruling around Rs 3,900 as against Rs 4,900-Rs
5,150 last year. Prompted by the distress sales the mandis in
Nort India have already registered an arrival of around 17 lakh
bales this season.The price have plunged below MSP and the
Modi government has asked Cotton Corporation of India
Limited to buy cotton. By the end of November, 2014 CCI has
procured approximately 11,58,000 bales of cotton valuing
around 2700 Crores for market stablisation and thereby
alleviating farmers’ distress.CCI has initiated action for
procurement of Cotton from the growers at the Minimum
Support Price(MSP) in 341 centres located in 92 Districts in 11
Cotton growing States.It has purchased 70,000 bales of cotton
at an MSP of Rs 3,950 in Punjab, Haryana and lower
Rajasthan. Prices of Cotton are below MSP in the States of
Andhra Pradesh, Telangana and Maharashtra.Domestic Cotton
prices depend on a number of factors including previous
balance, current supply, current as well as future demand for
cotton in both domestic and international markets.At present,
Cotton prices in international markets are ruling lower than the
prices that prevailed during the corresponding period last year
primarily due to lower demand by China and increased supply
from the USA.India's export prospects were hurt by China’s
decision to place an import quota. India exports nearly 60 per
cent of its cotton to China, the world’s largest importer, which
has a stockpile nearly 63 million cotton bales. CCI had earler
said there is a 19% dip in India's cotton supply so far in the
new season that began on October 1.

4

Fundamental Watch : Sugar
National & International Market Update
Sugar prices remained unchanged with a little volatility seen in Delhi and
Mumbai market for Grade- Mand S. Tenders are invited by ANDHRA
PRADESH
STATE
CIVIL
SUPPLIES
CORPORATION
LIMITED(APSCSC) for supply of ISS Grade S-30/S-31 cane sugar under
PDS for the month of January 2015 through e-procurement. Opening date
for tender has been fixed at 06th Dec, 2014.India produced 17.81 lakh tons
of sugar till 3rd Nov, 2014 which was 56% higher than the quantity
produced during the same period last year. Similarly, the country also saw
an upsurge in the number of crushing units from 262 (in 2013) to 287(in
2014) for the same duration. 31 sugar mills in Karnataka churned around
3.36 lakh tons of sugar this year (as on 30th Nov, 2014) compared to 3.28
lakh tons of sugar a year back. Crushing had also started recently in states
like Gujarat which had produced around 1.6 lakh tons of sugar till 30th
Nov, 2014. Cane crushing started in U.P and the state had churned around
196.86 lakh quintal of sugarcane to produce16.91 lakh quintal of sugar till
02nd Dec, 2014. Not only this, the cane recovery rate in U.P had also
improved from 7.48% in 2013 to 8.59% in 2014. Sugar production in
Maharashtra for 2014-15 ((till 02nd Dec, 2014) stands out at 11.2 lakh tons
which is 115% more than the production made last year during same time.
Notably, the state crushed 119.1 lakh tons of sugarcane this season ((till
02nd Dec, 2014) with an average recovery rate of 9.4%.
Indian indicative raw sugar CIF prices from Brazil quoted at $483.07 per
ton (including 25% import duty) and Indian domestic refined sugar FOB
prices quoted at $438.82 per ton Kolhapur based.On International front,
Brazil sugar FOB prices quoted at $400/ Ton.Indian sugar export declined
by 50% from 1.73 lakh tons in Nov, 2013 to 0.87 lakh tons this year in Nov,
2014. This was primarily because the domestic producer here stopped
producing raw sugar amid looming uncertainty over govt. export subsidy.

SUGAR PRICES AT KEY SPOT MARKETS

CENTER

08-Dec-14

06-Dec-14

Change

DELHI

2950

2990

-40

DHAMPUR

2950

2950

UNCH

MUMBAI

2996

3050

-54

KOLHAPUR

2675

2675

UNCH

VIIJAYWADA

3250

3250

UNCH

NAGPUR

3000

3000

UNCH

KOLKATA

NA

NA

-

5

Technical Outlook

BUY DHANIYA JAN ABOVE 13300 TGTS 13330,13380 SL 13250

SELL GUARGUM JAN BELOW 12790 TGTS 12740,12640 SL 12880

SELL CASTORSEED JAN BELOW 4540 TGTS 4510,4460 SL 4590

SELL TMC APR BELOW 7430 TGTS 7380,7280 SL 7520

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