23-Jul-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
JULY
4642
4796
4625
SUPPORT
SUPP.1
SUPP. 2
4563
4508
4618
4679 RESISTANCE
RES. 1
RES. 2
4734
4850
3.18
9880
Coriander short term trend is bearish and may continue in coming days.
-
-
-
-
SUPPORT
SUPP. 1
SUPP. 2
-
-
7250
7350
7242
SUPPORT
SUPP. 1
SUPP. 2
7218
7176
7260
7284 RESISTANCE
RES. 1
RES. 2
7326
7392
-
-
-
PIVOT
LEVELS
RESISTANC E
RES. 1
RES. 2
-
-
-
-
GUARGUM 5MT
PIVOT
INTRADAY LEVELS
VOL
INTRADAY
TURMERIC
JULY
% CHG
CASTORSEED
PIVOT
INTRADAY LEVELS
CLOSE
0.96
4765
Turmeric short term trend is bearish and may continue in coming days.
JULY
9145
9399
9120
SUPPORT
SUPP. 1
SUPP. 2
9057
8949
9165
PIVOT
INTRADAY LEVELS
9228 RESISTANCE
RES. 1
RES. 2
9336
9507
1.85
29715
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
CORIANDER
20-08-2018
4765.00
147.00
3.18%
GUAR GUM 5 MT
16-10-2018
9335.00
170.00
1.85%
TURMERIC
20-08-2018
7330.00
70.00
0.96%
WHEAT GUAR SEED 10 MT
BARLEY
20-08-2018
1945.00
16-10-2018
4330.00
20-08-2018
1595.00
12.00 22.00
7.00
NCDEX INDICES
Change % Index
Value
Pre. Close
% Change
Castorseed
4536
4496
0.89
Chana
4310
4332
-0.51
Coriander
4720
4591
2.81
Guargum5MT
8880
8785
1.08
Jeera
18690
18605
0.46
Musterseed
4156
4200
-1.05
0.62% 0.51%
0.44%
TOP LOSERS Symbol
Expiry Date
Current Price
Change
Change %
CHANA
20-08-2018
4275.00
-37.00
-0.86%
Soybean
3610
3540
1.98
COTTON SEED OIL CAKE AKOLA
20-08-2018
1800.00
-4.00
-0.22%
Turmeric
7290
7152
1.93
Agri Commodity Update Commodities In News Garment manufacturers in Gujarat have predicted a rise of 10 per cent in the price of garments after the centre raised the Minimum Support Price (MSP) of Cotton. The centre raised the MSP on medium-staple and longstaple fiber Cotton by 28 per cent and 26 per cent, respectively. The MSP of Cotton (medium staple) was raised to Rs 5,150 per quintal from Rs 4020 per quintal and that of Cotton (long staple) to Rs 5,450 per quintal from Rs 4,320 per quintal. The increase in MSP will have a big impact on the prices of garments. In the run up to the upcoming festive season that extends till Diwali, we foresee a 8-10 per cent rise in cost of garments. Drought like situation is faced in some parts of Uttar Pradesh (UP) due to a monsoon deficit, which is hitting Paddy plantation and posing a threat to the timely sowing of other kharif crops too. The plantation of Paddy, one of the state’s main crops has been delayed due to deficit rainfall. The time for sowing Paddy will be over after July 31. Paddy is grown on 59 lakh hectares. But the crop has been sown only on 30 percent land so far. The remaining plantation has to be done by the month-end, beyond which plantation of all varieties, except the Basmati, would be too late.
ECONOMIC NEWS
Tamil Nadu sugar mill owners and representatives have met Chief Minister Edappadi K Palaniswami seeking financial assistance and certain decontrol measures in the operations of sugar mills to tide over what they regard as "distressing" crisis following five years of less-than-desired rainfall in the state. The company officials met with the Chief Minister and presented a memorandum dated July 18, 2018. "Lower capacity utilisation, depressed sugar recovery and a massive fall in sugar prices have resulted in lower revenue generation," Palani G Periasamy, President of South Indian Sugar Mills Association told in the memorandum to the Chief Minister. Sugar rates have been touching lows for a year, but have risen from lows touched in May. The Indian Sugar Mills Association has predicted a higher output in the forthcoming Sugar season. The Centre has also announced a higher Fair and Remunerative Price for the farmers, fixed at Rs 275 a quintal for the 2018-19 sugar year. This does not augur well for states like Tamil Nadu where debtburdened sugar mills have found it difficult to pay lower FRPs.
India’s Coffee output for the 2018-19 crop year starting October is set to shrink as unusual heavy rains have hit over the past several weeks in the key growing regions in Karnataka. These key regions have affected with fungal diseases such as black-rot, which results in rotting of leaves and berries and also there have been reports of excess berry droppings due to heavy rains. Karnataka accounts for over 70 per cent of the country’s Coffee output. Karnataka planters are grappling to deal with fungal disease, berry droppings. Even the shortage of labour is hurting the growers. India’s Coffee output which peaked to a record 3.48 lakh tonnes during 2015-16 has come down in the subsequent years on account of erratic weather pattern impacting the production.
Technically Cardamom market is under long liquidation as market has witnessed drop in open interest by 5.52% to settled at 137 while prices down 3.4 rupees. Now MCX Cardamom is getting support at 1114.4 and below same could see a test of 1102.7 level, And resistance is now likely to be seen at 1143.9, a move above could see prices testing 1161.7. Cardamom on MCX settled down by 0.3% at 1126.1 on profit booking after prices gained as there are fears of damage to standing crops and delay in new crop supplies. Rains have also impacted the new crops and supplies from the fresh crop would get momentum by the third week of this month, though scattered supplies have begun to pour in some of the auction centres. Stockists did not make buying on hopes of higher output and early commencement of new crop supplies.
Agri Commodity Update Technical Outlook
BUY CORIANDER AUG ABOVE 4800 TARGET 4820/4840/4860 SL 4770
BUY GUARGUM5 OCT ABOVE 9400 TARGET 9440/9480/9520 SL 9350
BUY TURMERIC AUG ABOVE 7350 TARGET 7380/7410/7440 SL 7310
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