26-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
5080
5142
4950
SUPPORT
SUPP.1
SUPP. 2
4971
4864
5078
5056 RESISTANCE
RES. 1
RES. 2
5163
5248
-2.13
11650
Coriander short term trend is bearish and may continue in coming days.
-
-
-
-
SUPPORT
SUPP. 1
SUPP. 2
-
-
7326
7368
7170
SUPPORT
SUPP. 1
SUPP. 2
7240
7106
7374
7304 RESISTANCE
RES. 1
RES. 2
7438
7502
-
-
-
PIVOT
LEVELS
RESISTANC E
RES. 1
RES. 2
-
-
-
-
GUARGUM 5MT
PIVOT
INTRADAY LEVELS
VOL
INTRADAY
TURMERIC
JULY
% CHG
CASTORSEED
PIVOT
INTRADAY LEVELS
CLOSE
-1.95
3095
Turmeric short term trend is bearish and may continue in coming days.
JULY
8999
9071
8750
SUPPORT
SUPP. 1
SUPP. 2
8783
8606
8961
PIVOT
INTRADAY LEVELS
8927 RESISTANCE
RES. 1
RES. 2
9104
9248
-0.96
26515
Guargum Short term trend is bearish and may continue in coming days.
Agri Commodity Update Most Active Contract TOP GAINERS
NCDEX INDICES Symbol BARLEY
Expiry Date
Current Price
20-08-2018
1606.50
Change 4.00
Change % 0.25%
TOP LOSERS Symbol
Expiry Date
Current Price
Change
Index
Value
Pre. Close
% Change
Castorseed
4470
4514
-0.97
Chana
4134
4175
-0.98
Coriander
4970
5078
-2.13
Change %
CHANA
20-08-2018
4045.00
-130.00
-3.11%
CORIANDER
20-08-2018
4960.00
-118.00
-2.32%
GUAR GUM 5 MT
16-10-2018
8780.00
-181.00
-2.02%
Guargum5MT
8880
8785
1.08
GUAR SEED 10 MT
16-10-2018
4120.50
-65.00
-1.55%
Jeera
19550
19735
-0.94
TURMERIC
20-08-2018
7266.00
-108.00
-1.46%
Musterseed
4133
4166
-0.79
CASTOR SEED
20-08-2018
4455.00
-59.00
-1.31%
Soybean
3348
3352
-0.12
JEERA
20-08-2018
19505.00
-230.00
-1.17%
Turmeric
7230
7374
-1.95
Agri Commodity Update Commodities In News The Cotton Advisory Board (CAB) estimates India's Cotton exports for this season (October 2017 to September 2018) to be 70 lakh bales, an increase of 20% over last year. From October, 2017 to April 2018, the total amount of cotton exported from India was 51.21 lakh bales. CAB has estimated that the Cotton production for the current Cotton season will be 370 lakh bales. Domestic prices of Cotton are ruling below the International Cotton prices. Domestic sale prices of the representative variety of S-6 cotton vis-à-vis international prices of its equivalent variety was lower by 7.18% as on July 14. Earlier China use to import only Basmati Rice from India, amid trade war with US, China has agreed to import even non-Basmati Rice from 14 of the 19 registered Rice exporters from India. The clearance comes amid rising tension between the United States and China over trade tariff. China is looking for newer markets to boost its inventories. In an agreement signed on June 9, China agreed to import from India non-Basmati Rice. The shipments had to comply with the Chinese plant quarantine laws and regulations. India has to ensure that processing and storage houses of the Rice to be exported to China is free from pests, soil, seeds of weeds, paddy hull, loose bran and any of plant debris of Rice. Indian Tea exporters are hoping to get a larger share of markets as the reval exporter Sri Lanka facing a three-pronged challenge. Export prices of the orthodox tea variant from Sri Lanka averaged $3.83 a kilo during January to June period this year, while prices for the Indian export of the same variant were $2.87 a kg. However, the cost of production of orthodox teas in Sri Lanka is nearly $5 a kg; compared with just $2.6 a kg in India. This makes Lankan production unviable. Indian producers also get tax incentives for export.
ECONOMIC NEWS
Active monsoon conditions over the past 12 days has seen the countrywide rain deficit reduce to 2% from a high of 9%, but rainfall has continued to be poor in some major paddy-growing states, particularly Uttar Pradesh and Bihar, hitting the ongoing sowing of kharif crops. The Met office expects the monsoon to remain active in the rest of the month, which means monsoon in July is likely to be normal. The turnaround in the monsoon began around July 11. Since then, central India has gone from a slight rain deficit to an 18% surplus for the season. Rains have been good in south India as well, which currently has a season's surplus of 11%. Northwest India has seen average rainfall during this 12-day period, with the overall deficit being dented slightly from 10% to 6% (till July 23).
In a major relief to valueadded pepper exporters, the Kerala High Court issued an interim stay on the minimum import price (MIP) of Rs 500 per kg imposed on black pepper imports. The court observed that only the Central government had the power to issue notification framing or amending the Exim Policy under section 3 of the Foreign Trade (Development and Regulation) Act 1992. The director general of foreign trade (DGFT) had in March issued orders banning all consignments of pepper imported below MIP. The MIP was first introduced last December to protect domestic pepper growers who said rising imports were responsible for the sharp slump in pepper prices. But value-added pepper exporters, who import pepper for value addition and re-export the commodity, continued to bring in pepper by paying fines from December till March. DGFT issued a ban in March. “We will appeal against the stay. We have also met the commerce minister and apprised him of the situation,” said KK Vishwanath, co-ordinator of Consortium of Black Pepper Growers Organisation.
Agri Commodity Update Technical Outlook
SELL CORIANDER AUG BELOW 4950 TARGET 4930/4910/4890 SL 4980
SELL GUARGUM5 OCT BELOW 8750 TARGET 8710/8670/8630 SL 8800
SELL TURMERIC AUG BELOW 7190 TARGET 7160/7130/7100 SL 7230
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