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WEEKLY AGRI COMMODITY REPORT

30 JANUARY 2017

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Weekly Wrap Up
MONTH

OPEN

HIGH

LOW

CLOSE

% CHG

VOL

MONTH

OPEN

HIGH

CORIANDER

APR

7877

7877

7550

SUPPORT

SUPP.1

SUPP. 2

7494

7359

7630

7686
RESISTAN
CE

RES. 1

RES. 2

7821

8013

-2.47

11390

Coriander short term


trend is bearish and may
continue in coming days.

FEB

4075

4013

3974

SUPPORT

SUPP. 1

SUPP. 2

3952

3899

6970

7096

6660

SUPPORT

SUPP. 1

SUPP. 2

6528

6376

PIVOT

LEVELS

4028

RES. 1

RES. 2

6964

7248

VOL

-0.69

93

RES. 1

RES. 2

4081

4157

GUARGUM

6680

6812
RESISTAN
CE

% CHG

RESISTAN
CE

PIVOT

INTRADAY
LEVELS

4006

INTRADAY

TURMERIC

APR

CLOSE

CASTORSEED

PIVOT

INTRADAY
LEVELS

LOW

-2.9

15570

Turmeric short term


trend is bearish and may
continue in coming days.

FEB

6435

6466

6261

SUPPORT

SUPP. 1

SUPP. 2

6209

6132

6285

PIVOT

INTRADAY
LEVELS

6337
RESISTAN
CE

RES. 1

RES. 2

6414

6542

-1.5

23040

Guargum Short term


trend is bearish and
may continue in coming
days.

Weekly Recommendations

BUY GUARGUM5 FEBABOVE 6490 TARGET 6550 6630 SL BELOW 6440


SELL GUARGUM5 FEBBELOW 6246 TARGET 6236 6106 SL ABOVE 6296

BUY CORIANDER APRABOVE 7910 TARGET 7945 8055 SL BELOW 7880


SELL CORIANDER APRBELOW 7580 TARGET 7565 7505 7435 SL ABOVE 7610

Commodities In News
ECONOMIC NEWS
Jeera futures edged lower on NCDEX on fall in demand at the sport
market. Though, some losses were capped due to weak output in Gujarat
amid tight stocks from the producing regions. The contract for March
delivery was trading at Rs 17825, down by 0.56% or Rs 100.00 from its
previous closing of Rs 17925. The open interest of the contract stood at
5292 lots. The contract for April delivery was trading at Rs 17675, down by
0.73% or Rs 130.00 from its previous closing of Rs 17805. The open
interest of the contract stood at 2001 lots on NCDEX.
Turmeric futures traded lower on NCDEX on expectation of better
supplies of new turmeric crops from the producing belts. However, some
losses were capped on anticipation of rising upcountry demand at the spot
market. The contract for April delivery was trading at Rs 6760, down by
2.28% or Rs 158 from its previous closing of Rs 6918. The open interest of
the contract stood at 12845 lots. The contract for May delivery was trading
at Rs 6788, down by 3.63% or Rs 256 from its previous closing of Rs 7044.
Coriander futures edged lower on NCDEX as participants offloaded their
holdings amid subdued demand in the spot market. Further, increased
arrivals from major growing regions also fuelled the downtrend. The
contract for April delivery was trading at Rs 7650.00, down by 0.31% or Rs
24.00 from its previous closing of Rs 7674.00. The open interest of the
contract stood at 13620 lots. The contract for May delivery was trading at
Rs 7740.00, down by 0.74% or Rs 58.00 from its previous closing of Rs
7798.00. The open interest of the contract stood at 870 lots on NCDEX.
Soybean futures traded lower on NCDEX, tracking lower prices in
international market as concerns eased about potential crop damage in
Argentina from flooding. The contract for February delivery was trading at
Rs 3042.00, down by 0.85% or Rs 26.00 from its previous closing of Rs
3068.00. The open interest of the contract stood at 144860 lots. The contract
for March delivery was trading at Rs 3099.00, down by 0.86% or Rs 27.00
from its previous closing of Rs 3126.00.

Having dealt with the issue of farmers' suicide raised in many PILs
earlier, the Supreme Court on Friday found it strange that there was no
national policy to compensate tillers for crop failure or indebtedness, two
major reasons for them to take their lives. A bench of Chief Justice J S
Khehar and Justice N V Ramana was dealing with a three-year-old appeal
filed by an NGO led by Mallika Sarabhai questioning the rationale behind
Gujarat high court's decision not to entertain its PIL seeking relief for
farmers, nearly 600 of whom had committed suicide between 2004-2012.
The CJI said, "It is rather strange that there have been several incidents of
farmers' suicide yet there is no national policy to protect them from crop
failure leading to their indebtedness. There must be a policy to compensate
farmers for crop failure. This is a national issue and of larger public
interest." Petitioner's counsel Colin Gonsalves and Gujarat counsel Pritesh
Kapur agreed with the bench. The Centre informed the court that the NDA
government had launched a comprehensive crop insurance scheme under
Pradhan Mantri Fasal Bima Yojana (PMFBY), which assured a certain
sum of money for crop failure because of localised incidents and postharvest losses.
Delta district farmers have claimed that unseasonal rains in the past few
days have ruined paddy harvest and urged the Tamil Nadu government to
open Direct Purchase Centres (DPC) and procure paddy with moisture
content up to 20 per cent, to avoid exploitation by middlemen. During the
farmers' grievance meeting held at the district collectorate here on Friday,
General Secretary of the Federation of Farmers Associations of delta
districts,Arupathy Kalyanam submitted a memorandum to the state
government in this regard. Stating that harvest was now underway in areas
where crops were raised with pump set irrigation, Kalyanam pointed out
that the unseasonal rains during the past few days in delta districts have
been affecting harvest. "Paddy now contains moisture content. Middlemen
are trying to exploit the situation and are procuring paddy at very low cost,
about Rs 200 less than the minimum support price per quintal citing
moisture content," said Kalyanam.

NEWS RECAP
COMMODITY HEADLINES

Unseasonal rains affecting paddy harvest, say delta farmers

Why no national policy to help calamity-hit farmers, asks Supreme Court

Govt data shows note ban hasn't hit sowing

Indore APMC to be fully cashless as farmers accepting alternative modes of payments

Now sugar traders alarm govt about price escalation, demand imports

Speculators and refiners spreading rumours as they want to import sugar: ISMA

Despite fall in production, ISMA says no need to import sugar

Sugar production to be 21.3 million tonnes, down by 9 per cent from first estimate: ISMA

Double-check sugar output numbers, Centre tells states

FM Jaitley should focus on agriculture sector in Budget 2017

Govt waives Rs 660.50 cr interest on crop loans for Nov-Dec

Spot quotes
Commodity Name

Location

Barley

Jaipur

Price
1795

Commodity Name

Location

Ref Soya Oil

Nagpur

Price

709
Chana

Bikaner

Chana

Delhi

7900

Ref Soya Oil

8111

Soy Bean

Mumbai
705
Indore
3026

Chana

Indore

Coriander

Kota

7342.5

Cotton

Kadi

20317.8

Guar Gum 5MT

Jodhpur

6249.8

7923.35
Soy Bean

Nagpur
2979.5

Soy Bean

Kota
2912.5

Soymeal

Indore
23163

GUAR SEED 2 MT

Jodhpur

3319.65

Sugar M Grade

Kolhapur
4020

Guarseed

Bikaner

3300

Sugar M Grade

Kanpur
4063.35

Jeera

Unjha
18666.65

Mustard seed

Jaipur

Sugar M Grade

Muzaffar Nagar
3929.15

Sugar M Grade

Delhi

4200
Mustard seed

Alwar

3907.5
Sugar M Grade

Kolkatta

4179.5
Ref Soya Oil

Indore

719.35

4060
Turmeric

Nizamabad

7397.35

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