19-Sep-2018 Agri Commodity Update
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Agri Commodity Update Market Views MONTH
OPEN
HIGH
LOW
CLOSE
% CHG
VOL
MONTH
OPEN
HIGH
LOW
Oct
SUPPORT
INTRADAY LEVELS
RESISTANCE
5185
5116
SUPP.1 5,109
SUPP. 2 5,078
5114
PIVOT 5,147 RES. 1 5,178
% CHG
VOL
-
-
-
CASTORSEED
CORIANDER
5120
CLOSE
RES. 2 5,216
1.35
-
-
-
SUPPORT
SUPP. 1
SUPP. 2
-
-
1700
Coriander short term trend is bearish and may continue in coming days.
PIVOT
INTRADAY LEVELS
RESISTANC E
RES. 1
RES. 2
-
-
-
-
GUARGUM 5MT
TURMERIC
Oct
Oct 6584
SUPPORT
6632
6532
SUPP. 1
6,538.66
SUPP. 2 6,485.33
-0.21
315
9050 SUPPORT
INTRADAY LEVELS
RESISTANCE
6592
RES. 1 6,638.66
RES. 2 6,685.33
Turmeric short term trend PIVOT is bearish and may 6,585.33 continue in coming days.
9376
9000
SUPP. 1 8,885.33
SUPP. 2 8,754.66
9016
3.99
4210
Guargum Short term
PIVOT trend is bearish and may 9,130.66
INTRADAY LEVELS
RESISTANCE
RES. 1 9,261.33
RES. 2 9,506.66
continue in coming days.
Agri Commodity Update Most Active Contract TOP GAINERS
NCDEX INDICES
Symbol
Expiry Date
Current Price
Change
Change % Index
GUAR SEED 10 MT
GUAR GUM 5 MT
16-10-2018
4345.50
16-10-2018
9376.00
158.00
337.00
Value
Pre. Close
% Change
3.77% Barley
3.73%
1621
1623.5
4585
Castor Seed
4640
Chana
3836
3852
4753
4744
-0.15
1.20
TOP LOSERS
Symbol
TURMERIC
Expiry Date
16-10-2018
Current Price
6578.00
Change
-12.00
0.36
Change %
-0.18%
Coriander
1.50
Agri Commodity Update Commodities In News Agriculture Ministry is focusing on boosting Oilseeds production over the next four years, Ministry has proposed various strategies, including promoting the cultivation of oilseeds in non-traditional areas and cropping seasons besides targeting rice fallows to boost the domestic output, which could help reduce import dependence for edible oils by 2022. The Ministry has pegged the country’s total Vegetable Oil requirement at 33.2 million tonnes by 2022 as per the agenda note circulated for the rabi conference. The current annual Vegoil requirement is about 23 mt. The increase in the demand estimates by the Ministry assumes a per capita consumption of about 22 kg by 2022 from the level of 19 kg per person per annum during 2015-16. The production of nine annual Oilseed crops (primary source) has been targeted at 45.65 mt from which availability of Vegetable Oils would be about 13.69 mt by 2022 as against the current annual output of 7.31 mt. Similarly, Vegetable Oil availability from secondary sources such as Coconut, Cotton seed, Rice bran, solvent extracted oil (SEO) of tree and forest origin has been estimated at 5.22 mt by 2022 from the present level of 3.58 mt. Total output of nine Oilseeds (Groundnut, Soyabean, Sunflower, Rapeseed & Mustard, Castorseed, Sesamum, Nigerseed and Linseed) is pegged at 31 mt for 2017-18 according to the fourth advanced estimates. Edible oil is among the largest items in India’s import basket after crude oil and gold.
ECONOMIC NEWS
India’s forward export contracts of cotton have more than doubled from about seven lakh bales in September 2017, driven by increased demand from China, lower domestic prices and depreciation of the rupee. Exports would go up in this financial year despite expected projections of tight supplies and increase in minimum support price (MSP) by the government, industry sources said. "We have signed export contracts for 14-16 lakh bales (of 170 kg each). About 75% of these contracts are for export to China,” a top official of Cotton Association of India (CAI) said. “The 25% duty imposed by China on cotton imports from the USA will make Indian cotton more affordable to Chinese buyers,” the association said. Bangladesh and Vietnam are the other buyers that have signed some forward contracts for Indian cotton. In-spite of rupee depreciation, in August import of Vegetable Oil jumped to 15.12 lakh tonnes from 11.19 lakh tons in previous month, as pipelines were dried up due to lesser import during June and July ’18 months, coupled with improved parity in import of Palm Oil due to reduction in spread between palm oil and soft oils, resulted into higher import, said Solvent Extractors Association (SEA).
Agri Commodity Update Technical Outlook
BUY CORIANDER OCT ABOVE 5185 TARGET 5215/5245/5275 SL 5155
BUY GUARGUM5 OCT ABOVE 9376 TARGET 9406/9436/9466 SL 9346
BUY TURMERIC OCT ABOVE 6632 TARGET 6652/6682/6712 SL 6602
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