WEEKLY AGRI COMMODITY REPORT

11 May 2015

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Weekly Wrap Up

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MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL

CORIANDER

MAY 10512 10635 10822 10199 -2.59 87700

INTRADAY

LEVELS

SUPPORT SUPP.1

10469

SUPP. 2

10739

PIVOT

Coriander short term

trend is down, further

more down side is

expected in comimg

days.RESISTAN

CE

RES. 1

10282

RES. 2

10365

CASTORSEED

MAY 3715 3720 3817 3652 -0.14 272750

INTRADAY

LEVELS

SUPPORT SUPP. 1

3739.33

SUPP. 2

3826.67

PIVOT

3729

Castorseed short term

trend is down, Prices

expected to go down in

coming days.RESISTAN

CE

RES. 1

3642.33

RES. 2

3902

TURMERIC

MAY 8276 8360 8538 8092 -2.14 60905

INTRADAY

LEVELS

SUPPORT SUPP. 1

8508

SUPP. 2

8300

PIVOT

8330

Turmeric short term

trend is down and may

continue in coming

days.RESISTAN

CE

RES. 1

8122

RES. 2

8152

GUARGUM

MAY 12110 13000 11450 11760 -0.51 34285

INTRADAY

LEVELS

SUPPORT SUPP. 1

12350

SUPP. 2

12960

PIVOT

12290

Guargum Short term

trend is down,

Expecting price may go

up in coming days.RESISTAN

CE

RES. 1

11680

RES. 2

11620

Weekly Recommendations

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BUY CASTORSEED MAY ABOVE 3850 TARGET 3950 4050 SL BELOW 3700

SELL CASTORSEED MAY BELOW 3680 TARGET 3580 3480 SL ABOVE 3830

BUY GUARGUM MAY ABOVE 11750 TARGET 11900 12050 SL BELOW 11550

SELL GUARGUM MAY BELOW 11590 TARGET 11440 11290 SL ABOVE 11790

Commodities In News

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ECONOMIC NEWS

Haryana has achieved about 98 per cent wheat procurement target

with purchase reaching 63.85 lakh tonnes in the ongoing rabi marketing

season in the state.Haryana has set a target of procuring 65 lakh tonnes

for the current season.Wheat procurement so far is also 3 per cent more

than what was purchased in corresponding period last year.An official

spokesman said so far wheat procurement is 2,15,447 metric tonnes

higher as compared to the procurement made up to same day last year.out

of the total arrival of 63,85,629 metric tonnes this year, 63,85,364 metric

tonnes of crop has been procured by government procuring agencies at

Minimum Support Price and remaining 265 metric tonnes was lifted by

the traders.Giving details of the procurement, he said 18.93 lakh metric

tonnes of wheat had been procured by the Food and Supplies

Department, 27.71 lakh metric tonnes by Hafed, 6.63 lakh metric tonnes

by Haryana Agro, 10.50 lakh metric tonnes by Haryana Warehousing

Corporation and 5,800 metric tonnes of wheat was purchased by Confed.

Haryana Food and Supplies Minister Ram Bilas Sharma today said 96

per cent payment for wheat, amounting to Rs 8,586 crore has been

released to farmers by the department and state procurement agencies.

63,26,064 metric tonnes of wheat had been purchased by government

procurement agencies up to May 6 at minimum support price of Rs 1,450

per quintal.

Wheat futures have witnessed some selling from higher levels due to

fresh arrivals in local mandies along with restricted demand of millers at

local mandies. The NCDEX June futures declined by 0.24 percent

today.The market sources suggested that strong arrivals have been

reported in all the major mandies from the last two days due to

favourable conditions for wheat harvesting. The states such as Haryana

and Punjab have reported strong supplies. The market sources have

witnessed wheat arrivals of 18.75 lakh tonnes so far in the ongoing rabi

marketing season.

Some recovery was seen in turmeric futures due to strong demand by

stockiest at lower levels coupled with limited supplies in local mandies. Traders

are expecting the total production in the range of 50-52 lakh bags in the current

year, down 20 lakh bags from the last year in the same period. However, in the

long term, traders are expecting further decline in the coming days due to

possibility of new supplies from other producing states. The market traders are

avoiding any long positions at current levels. Demand for the commodity has

been increasing rapidly from the medicinal and cosmetic industry. For 2014/15

season, there are concerns over crop loss due to cyclone ‘Hudhud’ that hit

Andhra Pradesh in Oct 2014. Sowing of Turmeric in AP for the 2014-15 season

is reported at 0.13 lakh ha, as against 0.1 lakh ha last year. The area in

Telangana stood at 0.446 lakh ha against 0.431 lakh ha last year. Exports in

turmeric have increased by 8% to 65,000 tonnes during Apr-Dec 2014 as

compared to last year. The export target for the 2014-15 is 80,000 tonnes

according to Spice Board.

Firmness returned for Jeera prices as export demand started rising at the lower

levels. Firmness in Dollar vs Re too added to the Bullish sentiment as that is

beneficial for exporters. Low production, rising demand and firm Dollar are

however likely to keep sentiments firm for the commodity in medium to long

term. Jeera pric es at NCDEX touched all time high of 18700 last month on the

back of concerns over lower acreage. Rising export demand amidst falling

arrivals in the mandis and lower production reports kept supporting prices. An

expected 25-30% lower sowing area is already keeping prices firm. Exports are

rising and expected to rise further in coming weeks. Spot cumin seed prices

remained flat at Unjna and Rajkot market on Thursday. Arrivals were lower but

demand was also average. In Rajkot, European quality cumin seed was quoted

at Rs. 3,100-3,200/20kg, Singapore quality was quoted at Rs. 2,900-3,100.

Discolored cumin seed quoted at Rs. 2,500-2,800, old crop cumin seed traded at

Rs. 2,900-3,100, while Kirana quality was offered at Rs. 3,300-3,400.As per the

Agriculture department of the state, during 2014-15 sowing area was reduced

by 41%. As per third advanced estimate only 2.66 lakh hectare is sown for jeera

vs 2.82 lakh hectare estimate of second estimate. During 2013-14 jeera was

sown in around 4.55 lakh hectare area

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NEWS RECAP

COMMODITY HEADLINES

Sugar production in India soars to 273.74Lt.

Sugar output rises 14.27% to 27.37 million tonnes in October-April.

India Cotton production to dip 3% to 6.4Mt in 2015-16.

ISMA Forecasted India's Sugar ProductionTo 28 MT In 2014-15.

Maharashtra lowers calamity-hit crop loss percentage to 33%.

Haryana government bans farmers from burning wheat stubble.

How poor monsoon is going to impact agriculture and seed business.

Maize: What India should do as demand will rise to 45Mt by 2025-30.

India to commit supply of bales of Cotton to Garments Industry.

Oilmeal exports lose momentum, down 35% in April.

Haryana meets 98% wheat procurement target this season.

SPOT QUOTES

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COMMODITY NAME LOCATION PRICE

Mustard Seed 2 MT Jaipur 3719.8

Mustardseed Jaipur 3719.8

Mustardseed Alwar 3710.5

Ref Soya Oil Nagpur 604.5

Ref Soya Oil Indore 595

Ref Soya Oil Mumbai 590

Soy Bean Kota 3868.75

Soy Bean Indore 4008

Soy Bean Nagpur 4080

Soybean 2 MT Indore 4008

Soymeal Indore 37250

Sugar M Grade Kolhapur 2556.5

COMMODITY NAME LOCATION PRICE

Barley Jaipur 1263.95

Castor Seed Deesa 3665.6

Castor Seed 2 MT Deesa 3665.6

Chana Bikaner 4100

Chana Delhi 4314.45

Chana Indore 4306.65

Chana 2 MT Delhi 4314.45

Coriander Kota 9701.05

Cotton Kadi 16409.6

Cotton Seed (Industrial

Grade)Akola 2132

Cotton Seed Oilcake Akola 1800

Cotton Seed Oilcake Kadi 1879.15

Crude Palm Oil Kandla 433.6

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