30-Jul-2018 Agri Commodity Update
For More Information Please visit www.epicresearch.co or contact info@epicresearch.co Please refer to disclaimer at the end of the report.
Agri Commodity Update Market Views MONTH
OPEN
HIGH
LOW
CLOSE
% CHG
VOL
MONTH
OPEN
HIGH
LOW
CORIANDER
JULY
5065
5159
5039
SUPPORT
SUPP.1
SUPP. 2
5017
4968
5067
5088 RESISTANCE
RES. 1
RES. 2
5137
5208
0.59
9490
Coriander short term trend is bearish and may continue in coming days.
-
-
-
-
SUPPORT
SUPP. 1
SUPP. 2
-
-
7292
7338
7250
SUPPORT
SUPP. 1
SUPP. 2
7239
7200
7278
7288 RESISTANCE
RES. 1
RES. 2
7327
7376
-
-
-
PIVOT
LEVELS
RESISTANC E
RES. 1
RES. 2
-
-
-
-
GUARGUM 5MT
PIVOT
INTRADAY LEVELS
VOL
INTRADAY
TURMERIC
JULY
% CHG
CASTORSEED
PIVOT
INTRADAY LEVELS
CLOSE
0.22
2450
Turmeric short term trend is bearish and may continue in coming days.
JULY
8900
9240
8900
SUPPORT
SUPP. 1
SUPP. 2
8780
8670
8891
PIVOT
INTRADAY LEVELS
9010 RESISTANCE
RES. 1
RES. 2
9120
9350
3.70
28170
Guargum Short term trend is bearish and may continue in coming days.
Agri Commodity Update Most Active Contract TOP GAINERS
NCDEX INDICES Symbol
Expiry Date
Current Price
Change
Change %
GUAR GUM 5 MT
16-10-2018
9233.00
342.00
3.85%
Index
Value
Pre. Close
% Change
CASTOR SEED
20-08-2018
4645.00
129.00
2.86%
Castorseed
4645
4516
2.86
GUAR SEED 10 MT
16-10-2018
4267.00
101.50
2.44%
Chana
4153
4112
1.00
CHANA
20-08-2018
4153.00
41.00
1.00%
Coriander
5089
5067
0.43
COTTON SEED OIL CAKE AKOLA
20-08-2018
1832.00
17.00
0.94%
Guargum5MT
8880
8785
1.08
Jeera
19785
19600
0.94
TOP LOSERS Symbol
Expiry Date
Current Price
Change
Change %
MAIZE FEED/INDUSTRIAL GRADE
20-08-2018
1281.00
-8.00
-0.62%
Musterseed
4176
4161
0.36
SOY BEAN
16-10-2018
3365.00
-5.00
-0.15%
Soybean
3361
3370
-0.15
REF SOYA OIL
20-08-2018
743.00
-0.05
-0.01%
Turmeric
7310
7278
0.44
Agri Commodity Update Commodities In News The government has allowed sugar mills to manufacture ethanol directly from sugarcane juice or intermediate product called B-molasses. The sugarcane control order of 1966 has been amended in this regard and the same has been notified by the Union Food Ministry. The move would help mills divert cane juice for ethanol manufacturing during surplus years. So far, mills were allowed to manufacture ethanol from by-product called Cmolasses, after sugar was taken out while processing raw cane juice. China has allowed five more Rice processors in India to export the cereal to the world‟s second largest economy after inspecting their facilities while four companies were told to improve their storage conditions. Amid the stand-off with the US on trade tariffs, China appears to be serious on importing Rice from India, exporters said. In 2016, China had accredited 14 Rice exporters, after an inspection of their processing facilities in India, but prevented the physical shipment on quarantine issue claiming presence of a pest called „khapra‟ (cabinet) beetle. Global Wheat production is likely to fall to a five-year low following significant downgrades to crop prospects in the European Union and Russia, the International Grains Council said in its latest report. The intergovernmental body cut its forecast for world Wheat production in 2018/19 by 16 million tonnes to 721 million, the lowest total since the 2013/14 season. The EU Wheat crop was seen at 139.9 million tonnes, down from a previous projection of 147.3 million, with forecasts for the top four producers in the trading bloc, France, Germany, Britain and Poland, all revised down. Dry and hot weather in northern and central parts of Europe have damaged crops in recent weeks and sent Euronext wheat futures to a three-year high this week. “Furthermore, with disappointing results being reported from ongoing harvesting, there is potential for further output cuts in future grain market reports,” the IGC said.
ECONOMIC NEWS
Basmati rice exporters have sought government intervention to help resume exports to Saudi Arabia, the second largest importer of basmati, which halted rice imports from India since June for non-compliance with its new stringent maximum level of pesticide residues in food items. Indian authorities are set to initiate dialogue with the Gulf kingdom to seek mellowing of maximum residue level (MRL) norms that are likely to hit exports of mainly rice, buffalo meat and few other food items. “The matter is being taken up with Saudi Arabia as the new MRL are not based on scientific facts and are too stringent to be fulfilled,” a senior official from Agricultural and Processed Food Products Export Development Authority (APEDA) said. Saudi Arabia‟s new MRL norms are not India-specific, though. Rice export to the country has halted since June after a consignment was tested positively for not fulfilling the new criteria for residue detection. Saudi Arabia buys 7-8 lakh tonnes of rice, primarily basmati, from India. Exporters warn that the development will significantly shrink India‟s share in the global rice market. India is the largest exporter of basmati, shipping 4 million tonnes of basmati in 2017-18. “It is not possible to fulfil the (Saudi Arabia‟s) guidelines, and will cause serious blow to international rice trade,” said Tejinder Singh, general manager at Supple Tek Industries, an Amritsar-based manufacturer and exporter of basmati rice. The MRL norms are tough for even organic rice from the country, Singh told ET.
The government today removed restrictions for imports of urea for industrial, non-agriculture and technical grade. "Import Policy of Urea for industrial/nonagriculture/technical grade shall be free with actual user condition," the directorate general of foreign trade said in a notification. Earlier, these imports were allowed through State Trading Corporation.
Agri Commodity Update Technical Outlook
BUY CORIANDER AUG ABOVE 5150 TARGET 5170/5190/5210 SL 5120
BUY GUARGUM5 OCT ABOVE 9300 TARGET 9340/9380/9420 SL 9250
BUY TURMERIC AUG ABOVE 7350 TARGET 7380/7410/7440 SL 7310
Daily Agri Update For India: Info@epicresearch.co Address: 411 Milinda Manor (Suites 409-425) 2 RNT Marg. Opp Central Mall Indore (M.P.) +91 -731- 6642300 For United States- HNI& NRI Sales Contact: 2117 Arbor Vista Dr. Charlotte (NC)-Cell: +1 704 249 23 For Australia- HNI & NRI Sales Contact: Mintara Road, Tarneit, Victoria, Post Code 3029 Cell: +61 422 063855 Singapore- www.epicresearch.sg Contact +65-3158-1402 Malaysia- www.epicresearch.my Contact +60-3502-19047
Epic Research is one of India’s largest Financial Advisory house. Epic Research is amongst leading and most valuable financial advisory provider companies in the private sector. DISCLAIMER The information and views in this report, our website & all the service we provide are believed to be reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most. Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable. This material is for personal information and based upon it & takes no responsibility. The information given herein should be treated as only factor, while making investment decision. The report does not provide individually tailor-made investment advice. Epic research recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial adviser. Epic research shall not be responsible for any transaction conducted based on the information given in this report. The share price projections shown are not necessarily indicative of future price performance. The information herein, together with all estimates and forecasts, can change without notice. Analyst or any person related to epic research might be holding positions in the stocks recommended. It is understood that anyone who is browsing through the site has done so at his free will and does not read any views ex-pressed as a recommendation for which either the site or its owners or anyone can be held responsible. Any surfing and reading of the information is the acceptance of this disclaimer. Investment in equity, futures, Forex and commodity market has its own risks. We, however, do not vouch for the accuracy or the completeness thereof. We are not responsible for any loss incurred whatsoever for any financial profits or loss which may arise from the recommendations above epic research does not purport to be an invitation or an offer to buy or sell any financial instrument. Our Clients (Paid or Unpaid), any third party or anyone else have no rights to forward or share our calls or SMS or Report or Any Information Provided by us to/with anyone which is received directly or indirectly by them. If found so then Serious Legal Actions can be taken.