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DAILY AGRI COMMODITY REPORT

05 May 2016

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Market Views
MONTH

OPEN

HIGH

LOW

CLOSE

% CHG

VOL

MONTH

OPEN

HIGH

CORIANDER

MAY

7040

7076

6918

SUPPORT

SUPP.1

SUPP. 2

6925

6842

6990

7000
RESISTAN
CE

RES. 1

RES. 2

7083

7158

-0.24

4660

Coriander short term


trend is bearish and May
continue in coming
days.

SUPPORT

SUPP. 1

SUPP. 2

8306

8350

8158

SUPPORT

SUPP. 1

SUPP. 2

8195

8081

8180

8273
RESISTAN
CE

RES. 1

RES. 2

8387

8465

% CHG

VOL

PIVOT

LEVELS

RESISTAN
CE

RES. 1

RES. 2

GUARGUM

PIVOT

INTRADAY
LEVELS

INTRADAY

TURMERIC

MAY

CLOSE

CASTORSEED

PIVOT

INTRADAY
LEVELS

LOW

-1.56

13745

Turmeric short term


trend is bearish and
May continue in
coming days.

MAY

5700

5720

5590

SUPPORT

SUPP. 1

SUPP. 2

5607

5533

5680

PIVOT

INTRADAY
LEVELS

5663
RESISTAN
CE

RES. 1

RES. 2

5737

5793

-0.87

15668

Guargum short term


trend is bearish and
May continue in
coming days.

Most Active Contract


NCDEX INDICES
TOP LOSERS

Index

Value

Pre.
Close

%
Change

SYMBOL

EXPIRY DATE

CURRENT
PRICE

CHANGE

CHANGE
%

CASTORSEED

BARLEY

20-05-2016

1528.00

-5.00

-0.33%

CHANA

5445

5414

+0.57

CORIANDER

20-05-2016

6962.00

-16.00

-0.23%

CORIANDER

6962

6980

-0.26

GUARGUM

5680

5730

-0.87

JEERA

16975

16745

+1.37

MUSTARD
SEED

4373

4285

+2.05

SOYABEAN

4081

4059

+0.54

TURMERIC

8350

8280

+0.85

TOP GAINERS

SYMBOL

EXPIRY DATE

RAPESEED
MUSTERSEED

20-05-2016

JEERA

20-05-2016

CURRENT
PRICE

4373.00

16975.00

CHANGE CHANGE %

91.00

265.00

2.13%

1.59%

REF SOYA OIL

20-05-2016

644.40

8.95

1.41%

CHANA

20-05-2016

5445.00

54.00

1.00%

Commodities In News
Chana prices were down by 0.83 per cent to Rs 5,485 per quintal in
futures trade today as participants cut down their positions, triggered by
ample stocks at spot market on improved supplies after the government
measures
to
check
rising
prices.
At the National Commodity and Derivatives Exchange, chana for
delivery in far-month June fell by Rs 46, or 0.83 per cent, to Rs 5,485
per quintal, with an open interest of 17,940 lots.
Likewise, the commodity for delivery in May traded lower by Rs 17, or
0.31 per cent, to Rs 5,397 per quintal in 3,850 lots.
Analysts attributed the fall in chana futures to sufficient stocks in the
physical market on increased supplies from producing regions after the
government announced measures to check rising prices.
Meanwhile, expressing concern over the rise in prices of pulses, traders'
body CAIT said the government should impose stock limit on first
importers and allow only domestic process houses to import foodgrain
and pulses.

Coriander prices declined by 2.07 per cent to Rs 7,004 per quintal in


futures market today as speculators trimmed their positions, tracking a
weak
trend
at
spot
market
on
sluggish
demand.
Besides, ample stock position on increased supplies from major
producing
belts
put
pressure
on
coriander
prices.
At the National Commodity and Derivatives Exchange, coriander
prices for delivery in May month drifted lower by Rs 148, or 2.07 per
cent to Rs 7,004 per quintal with an open interest of 17040 lots.
Likewise, the spice for delivery in far-month June contracts traded
lower by Rs 126, or 1.76 per cent to Rs 7,050 per quintal in 16,490 lots.
Anlysts said the fall in coriander fututres was due to easing
demand in the spot market against adequate stocks position.
EU sugar production will jump by 17% to 17.4 million tonnes (MTs)
in 2016-17, in the run up to the scrapping of the quota system, US
Department of Agriculture's Brussel's bureau estimated in a latest
update.

ECONOMIC NEWS
India, the world's biggest sugar consumer, is likely to start the 2016-17
marketing year on October 1 with 7 million tonnes in carry-forward stocks,
down 21.3 per cent from a year ago, Food Minister Ram Vilas Paswan said
on Wednesday. The production in the current year ending September 30 is
likely to drop following two drought years in a row. The centre has asked
state governments to impose stock limits on sugar to avoid hoarding by
traders. India is likely to become a net importer of sugar in 2016-17 as
back-to-back drought years and dry irrigation channels ravage cane fields,
with output in Uttar Pradesh, biggest sugarcane producing state seen
dropping
by
more
than
40
per
cent.
An expected slowdown in Indian sugar exports as domestic prices surge,
will boost the market share of Thai and Brazilian sugar in Asian markets,
traders said on Tuesday. India will soon scrap an order that requires sugar
mills to export excess supply, two government officials said on Monday,
after back-to-back droughts look set to turn the country into a net importer
next season and open the door to rival suppliers. Traders said the news
came as little surprise as many had expected that India, the world's number
2 sugar producer after Brazil, would swing next season to a net importer
from exporter after drought ravaged production. India, also the world's top
sugar consumer, has been a major source of low quality white sugar
shipped to Myanmar, much of which was then smuggled into China,
traders said. Over the past several weeks, flows of white sugar to China
have slowed after brisk trade into the country in the fourth quarter of last
year, they added. "With India now marginalised, and if Chinese demand
does pick up again, the sugar (for China) will come from Thailand and
other sources," a senior European physical trader said. Indian mills are
now prioritising sales to the local market to benefit from higher domestic
prices
as
supplies
tightened.

Fundamental Watch : Castor Seed


National Market Update
Castor cash markets could not sustain its firm momentum as buyers expect
market to stabilize around Rs3150/3200 per qtl. Arrival has decreased from
last two days.In lack of fundamental clue any unexpected gain is unlikely.
There is a gossip in the market that good rainfall this year may boost yield
despite expected decline in area this year.It would be better to wait for
monsoon that would decide area/yield for this year crop. All India average
price for castor seed decreased by 7.20 % from Rs 3558.35 to Rs 3301.88 per
qtl during the week ended on 30th April-2016. However, it is higher by 9.44%
from the price registered during the second week of April. When we compare
average price of seed from April-2015, it rules lower by 5.35 % from current
average price (Rs3301.88 per qtl.). Decrease in demand for seed at higher
level restricted firm tone during the week under review. However, more dip is
unlikely as pace for seed arrivals in markets has declined.
India exported 16542.23 MT castor oil during week ended 24th April-2016
at an average price of $1095.69 per MT. It is lower by 43.05% from previous
week. However, price realization has increased by 2.59% from last week. The
maximum and minimum prices were registered at $1746.66 and 908.36 per
MT. Castor oil export would continue to stay steady as prices are lower than
normal expectation and availability is higher. Major importers like China
followed by USA and Netherlands are stocking oil taking advantage of lower
price. In Patan market, castor seed prices are likely to trade down in near
term. Stock of castor seed is likely to increase by 20,000 bags compared to
corresponding period of last year. Last year castor seed stock was around 4
lakh bags.In Deesa market, prices are likely to trade firm in the near term.
Stock of castor seed could be around 2-3 lakh bags, same compared to
corresponding period of last year.

CASTOR SEED PRICES AT KEY SPOT


MARKET
CENTER

3-MAY-15

2-MAY-15

Change

PATAN

13500

22500

-9000

RAJKOT

500

450

50

GONDAL

683

434

249

DEESA

2700

2590

110

MEHSANA

750

1500

-750

KADI

4240

3776

464

GANDHI
NAGAR

1275

1350

-75

Technical Outlook

SELL CORIANDER JUN BELOW 6910 TARGET 6865 6765 SL


ABOVE 6975

SELL GUARGUM JUN BELOW 5570 TARGET 5520 5450 SL


ABOVE 5630

SELL TURMERIC JUN BELOW 8138 TARGET 8094 8034 SL


ABOVE 8198

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