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DAILY AGRI COMMODITY REPORT

31 December 2014

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Market Views
MONTH

OPEN

HIGH

LOW

CLOSE

% CHG

VOL

MONTH

OPEN

HIGH

DHANIYA

JAN

12245

12325

11922

SUPPORT

SUPP.1

SUPP. 2

11906

11713

12100

12116
RESISTAN
CE

RES. 1

RES. 2

12309

12519

-1.55

6210

Dhaniya short term


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

JAN

5050

5070

4880

SUPPORT

SUPP. 1

SUPP. 2

4817

4753

8718

8884

8586

SUPPORT

SUPP. 1

SUPP. 2

8499

8395

8602

8691
RESISTAN
CE

RES. 1

RES. 2

8795

8987

% CHG

VOL

-3.99

111360

PIVOT

LEVELS

4943
RESISTAN
CE

RES. 1

RES. 2

5007

5133

Castorseed short term


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

GUARGUM

PIVOT

INTRADAY
LEVELS

4880

INTRADAY

TURMERIC

APR

CLOSE

CASTORSEED

PIVOT

INTRADAY
LEVELS

LOW

-2.27

22725

Turmeric short term


trend is down and may
continue in coming
days.

JAN

12830

12870

12520

SUPPORT

SUPP. 1

SUPP. 2

12530

12350

12710

PIVOT

INTRADAY
LEVELS

12700
RESISTAN
CE

RES. 1

RES. 2

12880

13050

-1.78

9577

Guargum Short term


trend is up, Expecting
price may go up in
coming days.

Most Active Contract


TOP LOSERS
SYMBOL

EXPIRY DATE

NCDEX INDICES

CURRENT
PRICE

CHANGE

CHANGE
%

CASTOR SEED NEW

20-01-2015

4880.00

-203.00

-3.99%

TURMERIC

20-04-2015

8602.00

-200.00

-2.27%

CORIANDER

20-01-2015

12100.00

-190.00

-1.55%

RAPESEED-MUSTARD SEED

20-01-2015

4294.00

-64.00

-1.47%

SOYABEAN

20-01-2015

3398.00

-40.00

-1.16%

BARLEY

20-01-2015

1608.00

-12.50

-0.77%

COTTON SEED OIL CAKE


AKOLA

20-01-2015

1452.00

-7.00

-0.48%

Index

Value

Pre.
Close

%
Change

CASTORSEED

4880

5083

-3.99

CHANA

3720

3600

+3.33

CORIANDER

12100

12290

-1.55

GUARGUM

12710

12940

-1.78

JEERA

15640

15680

-0.26

MUSTARD SEED

4294

4358

-1.47

SOYABEAN

3398

3438

-1.16

TURMERIC

8602

8802

-2.27

TOP GAINERS
SYMBOL

EXPIRY DATE

CURRENT
PRICE

CHANGE
CHANGE
%

CHANA

20-01-2015

3720.00

120.00

3.33%

REFINED SOY OIL

20-01-2015

645.55

1.40

0.22%

GUR

20-01-2015

975.50

2.00

0.21%

Commodities In News
Fresh shorts were seen in castor seed futures as prices were trading at huge
premium over spot prices along with possibility of strong production in the
current year. The NCDEX February futures declined by more than 1 percent
today.The market sources mentioned that huge premium of over Rs 500 per
quintal in castor seed futures over spot prices have prompted heavy stockiest
selling in futures market. The spot prices are currently trading at Rs 4300 per
quinta at Disa mandi , while futures were trading at Rs 4800 per quintal in
yesterday's trading.The market sources suggested that the total castor seed
production in the current year is likely to increase by 10-12 percent due to
higher sowing acreage coupled with better crop conditions. This will
encourage stockiest selling at elevated levels. The official release of COIITS
also added that the total production of the castor seed is estimated at 11.30
lakh tonnes for 2014-15, up 10 thousand from the last projection on the back
of strong production in Gujarat and Rajasthan.
Jeera spot markets surged yet again amid good buying support amid
persistent worriesover the acreage. The commodity is quoting at Rs 15161, up
Rs 350 per quintal on the day.These are the highest levels in around 18
months for the commodity. The total dailyarrivals stand at 7000 bags,
considerably lower compared to peak season. Overseas demandremains
strong. Rajasthan crop is seen taking a hit to the tune of around 30% on
poorweather.
Weakness was seen in turmeric market due to sharp selling in Sangli mandi
as prices were declined by Rs 100 per quintal today. However, traders stated
that weak production estimates to support prices in the near term. The total
turmeric production is estimated at around 45-47 lakh tonnes in the current
year.
Coriander sowing in Kota is expected to be double of last year due to higher
price realization. However, Madhya Pradesh has reported weak arrivals from
new crop. Traders are expecting decline in coriander prices in the near term.
Stockists are currently active in the market.

ECONOMIC NEWS
India Government is seeking views on a proposal to set up an
independent common clearing corporation for the national commodity
exchanges. It had appointed a working group to study the proposal and
the group submitted its report to the Finance Ministry.The Group is of
the considered opinion that an Independent Common Clearing
Corporation(CC) for the national commodity exchanges, will deliver
significant benefits of robust risk management standards, better
corporate governance, greater oversight, reduced transaction and
clearing costs and efficiency gains to the participants.The CC is a
critical market infrastructure institution and needs to be well
capitalized. The Group is of the view that it may have a minimum net
worth of INR 100 crores to begin with, which should be reassessed
after a period of one year, based on evaluations of the risk profile of
the CC.The clearing and settlement of trades within the CC should be
across commodity exchanges, for benefits of reduced collateral, cross
margining, multilateral netting etc to flow to the participants.
India is considering a 10% import tax on pulses.The tax hike on
overseas purchases is a bid to help the local farmers, The government
is also considering to withdraw a ban on exports of pulses and edible
oils, We are the biggest importers of pulses and edible oils and we
will continue to import. Our farmers should have the option to export
if there is a market,.Area coverage under Total Pulses as on
december 26, is at 124.16 lakh hectares while the last years sowing
area coverage was 134.72 lakh hectares. India also witnessed a lower
harvest (5.2 mt) in the kharif season.The production of pulses in India
has been following a downward trajectory over the years. From 11.8
million tonnes in 1970-71, it rose to 19.6 million tonnes in 2013-14, a
period over which production of rice nearly tripled and that of wheat
nearly quadrupled.The relatively lower production has reduced per
capita net availability to 42 grams a day in 2013, from 51 grams in
1971, forcing the country into increasing imports.

Fundamental Watch : Castorseed


National & International Market Update
Castor cash market traded weak on Tuesday except Rajkot, Deesa and
Ahmadabad; due to weak demand for oil and other finished products. Some
demand for seed was seen in major bench mark markets for seed. Supply of
seed is notenough to cater local demands. Stockists are not releasing stock
despite arrivals from new crop are expected to increase from mid January.
Major portion of stock from old crop is in strong hand and they can pull
market up in future and cash market. Castor seed in Gujarat traded firm at
4550 per qtl. Castor meal quote bulk at kandla was registered unchanged at
Rs 8100 per tonne as compare to last week. As year has entered in last
phase, trading activities are expected to be lower than normal. Fresh
demand is expected from the second week of January.Commercial grade oil
price traded firm at 88000 per tonne, almost Rs 500 higher than previous
week. Fob quote for castor oil at Kandla was quoted at $1465 per tonne,
higher by $15 per tonne. Meal price unchanged at $135 per tonne during the
week under review. Castor meal quote bulk at kandla was registered at Rs
8100 per tonne, unchanged from last week. Area under castor seed was
recorded at 10.35 lakh ha. on 10th Oct ,2014 against 9.84 lakh ha covered
in last year.
Castor meal export has decreased considerably in the second week of
December and demand for meal is likely to decrease further as prices are
ruling higher. Only need based buying is on the card. Bulk buying is
expected in March April, the peak arrival season and likely lower price.
Rotterdam quote to has decreased from$1753 to 41727 per tonne during last
one week. FOB quotes In Kandla has decreased considerably from $1470 to
$1450 per tonne in last two weeks and it is likely to rule in the range of
$1440 to $1445 in the remaining week of December.Demand from China,
EU, US and Japan is expected to remain weak till January. Total export of
oil this year may decrease to 4 lakh tonne from January to December)
Overall market sentiment remains steady to slightly firm in Dec.

CASTOSEED ARRIVALSA AT KEY SPOT


MARKET
CENTER

30-Dec-14

29-Dec-14

Change

SUMERPUR

240

460

-220

JODHPUR

NA

NA

RAJKOT

330

370

-40

GONDAL

213

267

-54

PATAN

3806

5390

-1584

DEESA

809

827

-18

MEHSANA

240

400

-160

Technical Outlook

SELL DHANIYA JAN BELOW 12050 TGTS 12020,11970 SL 12100

BUY GUARGUM JAN ABOVE 12830 TGTS 12880,12980 SL 12740

SELL CASTORSEED JAN BELOW 4870 TGTS 4840,4790 SL 4920

SELL TMC APR BELOW 8570 TGTS 8520,8420 SL 8660

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