21-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
5220
5125
SUPP.1 5,126
SUPP. 2 5,126
RES. 1 5,221
% CHG
VOL
-
-
-
CASTORSEED
CORIANDER
5170
CLOSE
5174
PIVOT 5,173 RES. 2 5,268
-0.7
-
-
-
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
-
-
TURMERIC
-
-
GUARGUM 5MT
Oct
Oct 6582 SUPPORT
INTRADAY LEVELS
6582
6464
SUPP. 1 6,487
SUPP. 2 6,415
RES. 1 66,608 RESISTANCE
RES. 2 6,657
6584
-1.4
315
9282 SUPPORT
PIVOT 6,536
Turmeric short term trend is bearish and may continue in coming days.
9425
9280
SUPP. 1 9,295
SUPP. 2 9,215
9376
PIVOT 9,360
INTRADAY LEVELS
RESISTANCE
RES. 1 9,440
RES. 2 9,505
-0.22
4210
Guargum Short term trend is bearish and may continue in coming days.
Agri Commodity Update Most Active Contract NCDEX INDICES
TOP GAINERS
Index Symbol
Expiry Date
Current Price
Change
16-10-2018
1748.00
27.50
16-10-2018
3987.00
7.00
1748
1714
1.60%
Castor Seed CHANA
Pre. Close
% Change
Change % Barley
BARLEY
Value
4734
1.98
4750 -0.34
0.18%
TOP LOSERS Chana
3987
3973 0.35
Symbol
Expiry Date
Current Price
Change
Change % Coriander
TURMERIC
16-10-2018
6492.00
-86.00
-1.31%
5138
5174 -0.70
Agri Commodity Update Commodities In News As per Investment Information and Credit Rating Agency (ICRA) note, certain unfavorable developments in some major export destinations could physically hurt the export demand for Indian Basmati Rice.
After registering an impressive growth of 23 % and 14 % respectively during FY2018 and first four months of FY2019, Indian basmati Rice exports face an uncertain export outlook. The fixing of pesticide residue parameters by the European Union (EU) has resulted in considerable decline in exports to this region by 58% in volume and 40% in value over Jan – July period. Domestic Basmati Rice exporters have recently faced payment issues from some Iranian importers. Also, the imposition of trade sanctions by the US on Iran, which will take full effect in November 2018, may hamper trade between India and Iran. Another evolving concern is of Saudi Arabia following EU by tightening the pesticide residue parameters. However, there has not been any final official notification regarding the guidelines yet.
ECONOMIC NEWS
India, the world’s top sugar producer after Brazil, is considering a proposal to provide 45 billion rupees ($617 million) assistance to sugar mills to boost exports and cut domestic surplus next year. The government plans to provide a subsidy of 13.88 rupees per 100 kilograms of cane to sugar mills in the year starting Oct. 1, compared with 5.5 rupees in the 2017-18 season, official sources said. It is also considering to reimburse transport and handling charges between 1,000 rupees and 3,000 rupees per ton to move the sweetener from mills to ports, the sources said. The proposal is likely to be considered by the cabinet on Wednesday. The government may allocate a total of 5 million tons of sugar export quota to mills in 2018-19. The incentives will help mills to part clear 135.67 billion rupees of cane arrears that millers owed to farmers as of Sept. 17. Sugar production in the country will likely reach a record for a second straight year in 2018-19 as higher cane prices prompted farmers to increase the area under high-yielding varieties.
Agri Commodity Update Technical Outlook
BUY CORIANDER OCT ABOVE 5220 TARGET 5250/5280/5310 SL 5190
BUY GUARGUM5 OCT ABOVE 9425 TARGET 9455/9485/9515 SL 9395
BUY TURMERIC OCT ABOVE 6590 TARGET 6620/6650/6680 SL 6560
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