DAILY AGRI COMMODITY REPORT

16 May 2016

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Market Views
MONTH

OPEN

HIGH

LOW

CLOSE

% CHG

VOL

MONTH

OPEN

HIGH

CORIANDER

JUNE

7301

7390

7261

SUPPORT

SUPP.1

SUPP. 2

7283

7208

7359

7337
RESISTAN
CE

RES. 1

RES. 2

7412

7466

+0.37

5420

Coriander short term
trend is bearish and May
continue in coming
days.

-

-

-

-

SUPPORT

SUPP. 1

SUPP. 2

-

-

8206

8206

8070

SUPPORT

SUPP. 1

SUPP. 2

8053

7993

8112

8129
RESISTAN
CE

RES. 1

RES. 2

8189

8265

% CHG

VOL

-

-

PIVOT

LEVELS

-

RESISTAN
CE

RES. 1

RES. 2

-

-

GUARGUM

PIVOT

INTRADAY
LEVELS

-

INTRADAY

TURMERIC

JUNE

CLOSE

CASTORSEED

PIVOT

INTRADAY
LEVELS

LOW

-1.10

5770

Turmeric short term
trend is bearish and
May continue in
coming days.

JUNE

5410

5420

5230

SUPPORT

SUPP. 1

SUPP. 2

5193

5117

5270

PIVOT

INTRADAY
LEVELS

5307
RESISTAN
CE

RES. 1

RES. 2

5383

5497

-3.12

16518

Guargum short term
trend is bearish and
May continue in
coming days.

2

Most Active Contract
NCDEX INDICES
TOP LOSERS

SYMBOL

EXPIRY DATE

CURRENT
PRICE

CHANGE

CHANGE
%

GUAR GUM

20-05-2016

5200.00

-170.00

-3.17%

SOY BEAN

20-05-2016

3850.00

-36.00

-0.93%

JEERA

20-05-2016

16575.00

-135.00

Index

Value

Pre.
Close

%
Change

CASTORSEED

-

-

-

CHANA

5692

5640

+0.92

CORIANDER

7388

7345

+0.59

GUARGUM

5200

5380

-3.35

JEERA

16575

16670

-0.57

MUSTARD
SEED

4355

4339

+0.37

SOYABEAN

3850

3888

-0.98

TURMERIC

8540

8518

+0.26

-0.81%

TOP GAINERS

SYMBOL

CHANA

EXPIRY DATE

20-05-2016

CURRENT
PRICE

5692.00

CHANGE CHANGE %

54.00

0.96%

CORIANDER

20-05-2016

7388.00

56.00

0.76%

TURMERIC

20-05-2016

8540.00

4.00

0.05%

3

Commodities In News
Turmeric on NCDEX settled up on expectation of rising demand
from traders and stockists at the spot market. Though, some gains were
capped on poor arrival from the producing regions. New season crop
has hit the markets and continue to peak in current month but majority
of arrivals are of medium quality.As per dept of commerce data,
turmeric exports for the period April 2015- Feb 2016 is pegged at
77,081 tonnes while the export for the 2014-15 was 83,713 tonnes for
the same period. Poor arrival of turmeric bags caused concern among
traders. The price of the turmeric sold below Rs. 8,800. The price of the
both varieties of turmeric decreased by Rs. 200 to 300 a quintal. At the
Erode Turmeric Merchants Association sales yard the finger turmeric
sold at Rs. 7,749 to Rs. 8,849 a quintal, root variety sold at Rs. 7,278 to
8,299 a quintal.Of the arrival of 376 bags, 180 bags were sold. At the
Regulated market Committee, finger turmeric sold at Rs. 7,917 to Rs.
8,899 a quintal; root variety at Rs. 7,499 to Rs. 8,355 a quintal. Of the
arrival of 216 bags, about 200 bags were sold. At Duggirala market
sources reported arrivals at 1343 quintals, up by 444 quintals.
Jeera on NCDEX settled up due to limited arrivals from growing
regions. Further, reduced domestic supplies in the physical markets and
some export enquiries too fuelled the uptrend. As per the final rabi
sowing report, Gujarat has planted more cumin compared to last year
sowing progress. Jeera is planted in about 10.8% more area at 2,95,400
hectares compared to 2,66,700 hectares last year same time.Market
players are still expecting some more export enquiries on reports of
good quality jeera production this year but the demand is still lower. As
per third advance estimate of Gujarat State for 2015-16, production is
pegged at 2.13 lt higher by about 7% forecasted in revised fourth
advance estimate of 1.97 lt. In 2013-14, production was 3.46 lt.
According to Dept of Commerce data, the export of jeera during first
11 month of 2015-16 (Apr-Feb) is 78,965 tonnes compared to 1.46 lt
exported last year same period.

ECONOMIC NEWS
Government will cover as many as 585 agricultural markets
electronically by the next year, which will allow farmers to sell their
produce anywhere in the country, Agriculture Secretary Shobhana K
Pattanayak said.On April 14, the government had launched the project on a
pilot basis, beginning with 21 markets covering eight states."We are
hopeful of rolling this out in 585 markets in the country by the next year.
The farmers for the first time will have a voice to sell goods wherever they
want to. It will empower farmers," Pattanayak said at a workshop on India
Country Programme Evaluation jointly organised by IFAD and the
Department of Economic Affairs (Finance Ministry).A specialised United
Nations agency, IFAD invests in rural areas, poverty eradication,
agriculture, food security and nutrition.Pattanayak is of the view that
agriculture will be attractive only if farmers are empowered and their
produces are linked to markets or a value chain.He underlined the need to
concentrate on agriculture to lift people from below poverty line. In India,
close to 70 per cent of the population lives in rural areas depending on
agriculture."The reality in India is it is small holders' agricultural nation.
Most of the people are small and marginal farmers. And to make
agriculture a profitable venture is a big challenge", he added. The
government, he said, strongly feels that doubling farmers' income in the
next six years is doable.Additional Secretary of Department of Economic
Affairs Dinesh Sharma pointed to the apparent contradiction between
cheap food and remunerative prices to farmers.He felt that agriculture
sector in India needs to be part of the global value chain to make it more
attractive.He suggested that opening foreign direct investment in retail will
make farmers suppliers of the food chain and give them more assured
returns."India has numerous public rural development schemes... A process
of greater devolution of funds and powers is under way. This creates
opportunities for IFAD-funded projects," said Oscar A Gracia, Director,
Independent Office of Evaluation of IFAD.

4

Fundamental Watch : Sugar
National Market Update
Datagro predicted a global sugar supply deficit of 6.49 MT and 6.09 MT
respectively in successive marketing year 2015-16 and 2016-17.

SUGAR PRICES AT KEY SPOT MARKET
CENTER

13-May-15

12-May-15

Change

DELHI

3775

3540

+35

MUMBAI

3756

3756

UNCH

The Thailand govt. had sold 72,000 tons of raw sugar to Bunge BG.N at a
premium of 137 points over global futures via a tender.

VIJAYWADA

3900

3900

UNCH

FCStone predicted Brazil’s centre south region to crush 36.3 MT of
sugarcane in the second half of April, thereby producing a total of 1.71 MT of
sugar during the MY 2016-17.

NAGPUR

3675

3675

UNCH

CHENNAI

3440

3440

UNCH

AMBIKAPUR

3035

3035

UNCH

DHAMPUR

3550

3565

-15

Indian sugar export fell by 43% this week (ending on 08th May, 2016) as the
country exported 38.6 thousand tons of sugar during the week compared to
67.6 thousand tons of exports made the previous week.
Sugar mills in Maharashtra owed somewhat around Rs 2900 crore as the
outstanding amount to the Maharashtra State Cooperative Bank (MSCB) by
the end of the season.

Favorable dry weather condition and a good harvest this year led Brazil to
export 1.23 MT of raw sugar in April, 2016 compared to 0.62 MT of exports
made last year in April, 2015.
A lower cane crushing in U.P this year led the state to produce only 68 lakh
tons of sugar (though achieved a higher recovery rate of 10.60%) in 201516(01st Oct, 2015 – 30th Apr, 2016 compared to 70.42 lakh tons of production
made last year during the same interval.

5

Technical Outlook

SELL CORIANDER JUN BELOW 7320 TARGET 7275 7175 SL
ABOVE 7385

SELL GUARGUM JUN BELOW 5230 TARGET 5180 5110 SL
ABOVE 5290

SELL TURMERIC JUN BELOW 8070 TARGET 8026 7966 SL
ABOVE 8130

6

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