21-Aug-2018 Agri Commodity Update
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Agri Commodity Update Market Views MONTH
OPEN
HIGH
LOW
CLOSE
% CHG
VOL
MONTH
OPEN
HIGH
LOW
CORIANDER
AUG
4890
4979
4890
SUPPORT
SUPP.1
SUPP. 2
4856
4828
4884
4917 RESISTANCE
RES. 1
RES. 2
4945
5006
1.39
4840
Coriander short term trend is bearish and may continue in coming days.
-
-
-
-
SUPPORT
SUPP. 1
SUPP. 2
-
-
7024
7098
6990
SUPPORT
SUPP. 1
SUPP. 2
6946
6914
6978
7022 RESISTANCE
RES. 1
RES. 2
7054
7130
-
-
-
PIVOT
LEVELS
RESISTANC E
RES. 1
RES. 2
-
-
-
-
GUARGUM 5MT
PIVOT
INTRADAY LEVELS
VOL
INTRADAY
TURMERIC
AUG
% CHG
CASTORSEED
PIVOT
INTRADAY LEVELS
CLOSE
1.61
3385
Turmeric short term trend is bearish and may continue in coming days.
AUG
9850
9988
9682
SUPPORT
SUPP. 1
SUPP. 2
9713
9544
9882
PIVOT
INTRADAY LEVELS
9850 RESISTANCE
RES. 1
RES. 2
10019
10156
0.60
31560
Guargum Short term trend is bearish and may continue in coming days.
Agri Commodity Update Most Active Contract TOP GAINERS Symbol
Expiry Date
Current Price
Change
NCDEX INDICES
Change %
JEERA
19-09-2018
20420.00
735.00
3.73%
Index
COTTON SEED OIL CAKE AKOLA
19-09-2018
1838.50
47.00
2.62%
Castorseed
4667
4624
0.93
TURMERIC
19-09-2018
7090.00
80.00
1.14%
Chana
4300
4301
-0.02
CORIANDER
19-09-2018
4952.00
46.00
0.94%
Coriander
4952
4884
1.39
Guargum5MT
8880
8785
1.08
Jeera
20040
19375
3.43
Musterseed
4149
4166
-0.41
Value
Pre. Close
% Change
TOP LOSERS Symbol
Expiry Date
Current Price
Change
Change %
BARLEY
19-09-2018
1640.00
-14.00
-0.85%
CHANA
19-09-2018
4326.00
-36.00
-0.83%
GUAR GUM 5 MT
16-10-2018
9941.00
-18.00
-0.18%
Soybean
3353
3371
-0.53
GUAR SEED 10 MT
16-10-2018
4623.00
-1.00
-0.02%
Turmeric
6840
6962
-1.75
Agri Commodity Update Commodities In News India's Palm Oil imports are likely to fall 15% in 2017/18 from the year before to their lowest in six years, hit by a hike in import taxes, a weaker rupee and tighter credit for would-be buyers, industry sources said. Local prices moved up due to higher import tax and depreciation in the rupee. The price rise moderated demand for imports, the Solvent Extractors' Association of India (SEA) said. India in March raised its import tax on refined palm oil to 54% to support local farmers. That made palm cargoes less appealing than shipments of alternative edible oils such as soyoil, sunflower oil and canola oil - at least until import duties on those commodities were raised to 45% in June. As per the latest update from United States Department of Agriculture (USDA), Indias Cotton area for MY 2018/19 is being forecasted at 11.8 million hectares, 100,000 hectares lower than the official USDA estimate. The reduction in area is primarily in the two major Cotton growing states of Gujarat and Maharashtra. Deficit rains and pest pressures have prompted farmers to either plant alternate crops, or delay planting altogether. According to the Ministry of Agriculture and Farmers Welfare (MOAFW), planted area reached 11.26 million hectares as of August 9, 2018 compared to their final estimate of 11.71 million hectares in MY 2017/18. After almost a dry phase of over three weeks, the latest spell of rainfall has brought relief for kharif sowing as water scarcity situation loomed over Gujarat. Against the state’s average rainfall of 831 mm, Gujarat has recorded 523.29 mm or 62.97 per cent till Sunday with a jump 5.16 per cent within a day between August 17 and August 18. The fresh spell of rain is expected to benefit kharif crop sowing and likely to increase the current acreage which stands at 48 per cent. It is likely to boost Castor sowing from current 1.50 lakh hectare to 6.50 lakh hectare.
ECONOMIC NEWS
Farmers are still unaware of the details of the Pradhan Mantri Fasal Bhima Yojana (PMFBY) even as the government and insurers are trying to increasing the penetration in the non-loanee segment, said a climate risk management firm WRMS. However in many states, high satisfaction has been seen among the enrolled farmers and reasons for the same were proper implementation in terms of assistance to farmers and involvement of insurance company and high percentage of insured farmers receiving payout, it said. The PMFBY, launched in 2016, is the most important tool today to insure agriculture against climate and other risks. The scheme which is an improvement over the previous agriculture insurance schemes not only provides subsidised insurance to the loanee farmers but also avails it to the non-loanee farmers. "In a recent survey done in eight states (Uttar Pradesh, Gujarat, Odisha, AP, Chhattisgarh, Nagaland, Bihar and Maharashtra) by BASIX, it was found that only 28.7 per cent of the sampled farmers are aware about the PMFBY," the Weather Risk Management Services Pvt Ltd (WRMS) said.
The Agricultural Products Export Development Authority (APEDA) is mulling setting up of specialised agencies which can provide farmers with workers trained in application of pesticides and fungicides, according to a senior official. The move is aimed at improving compliance with global pesticide residue norms and reducing rejection of shipments of farm products. The authority is likely to seek clearance from the agriculture ministry for scientific use of chemicals on crops, cut overuse dosage and ensure adherence to latest global maximum residue level norms, the official said. As per the blueprint, which will soon be mooted to the agriculture ministry, farmers will have the option of hiring farm hands trained in use of pesticides and fungicides through specialised agencies.
Agri Commodity Update Technical Outlook
BUY CORIANDER SEP ABOVE 4990 TARGET 5010/5030/5050 SL 4960
BUY GUARGUM5 OCT ABOVE 10050 TARGET 10090/10130/10170 SL 10000
BUY TURMERIC SEP ABOVE 7110 TARGET 7140/7170/7200 SL 7070
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