DAILY AGRI COMMODITY REPORT 18 December 2014
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Market Views MONTH
OPEN
HIGH
LOW
CLOSE
% CHG
VOL
MONTH
OPEN
HIGH
DHANIYA
JAN
12930
13089
12810
SUPPORT
SUPP.1
SUPP. 2
12841
12688
12995
12964 RESISTAN CE
RES. 1
RES. 2
13117
13240
+0.24
9720
Dhaniya short term trend is down, further more downside is expected in comimg days.
JAN
4711
4759
4703
SUPPORT
SUPP. 1
SUPP. 2
4716
4682
7920
8000
7816
SUPPORT
SUPP. 1
SUPP. 2
7864
7748
7980
7932 RESISTAN CE
RES. 1
RES. 2
8048
8116
% CHG
VOL
+0.76
72260
PIVOT
LEVELS
4738 RESISTAN CE
RES. 1
RES. 2
4772
4794
Castorseed short term trend is down, Prices expected to go down in coming days.
GUARGUM
PIVOT
INTRADAY LEVELS
4751
INTRADAY
TURMERIC
APR
CLOSE
CASTORSEED
PIVOT
INTRADAY LEVELS
LOW
+1.24
7950
Turmeric short term trend is up and may continue in coming days.
JAN
11420
11650
11260
SUPPORT
SUPP. 1
SUPP. 2
11337
11113
11560
PIVOT
INTRADAY LEVELS
11493 RESISTAN CE
RES. 1
RES. 2
11717
11873
+1.23
7767
Guargum Short term trend is down, Expecting price may go down in coming days.
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Most Active Contract TOP LOSERS
NCDEX INDICES
SYMBOL
EXPIRY DATE
CURRENT PRICE
CHANGE
CHANGE %
COTTON SEED OIL CAKE AKOLA
19-12-2014
1399.00
-12.00
-0.85%
REFINED SOY OIL
19-12-2014
580.00
-2.20
-0.38%
JEERA
20-01-2015
13135.00
-50.00
-0.38%
BARLEY
19-12-2014
1611.00
-5.00
-0.31%
GUR
20-01-2015
961.00
-2.50
-0.26%
CORIANDER
19-12-2014
12430.00
-4.00
-0.03%
TOP GAINERS SYMBOL
EXPIRY DATE
CURRENT PRICE
CHANGE
Index
Value
Pre. Close
% Change
CASTORSEED
4751
4715
+0.76
CHANA
3228
3185
+1.35
CORIANDER
12995
12964
+0.24
GUARGUM
11560
11420
+1.23
JEERA
13135
13185
-0.38
MUSTARD SEED
4195
4055
+3.45
SOYABEAN
3264
3289
-0.76
TURMERIC
7980
7882
+1.24
CHANGE %
RAPESEED-MUSTARD SEED
19-12-2014
4149.00
129.00
3.21%
CHANA
19-12-2014
3128.00
72.00
2.36%
CASTOR SEED NEW
19-12-2014
4728.00
56.00
1.20%
TURMERIC
19-12-2014
6760.00
24.00
0.36%
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Commodities In News Weakness continued in coriander market. The overall coriander sowing in Kota is expected to be double of last year due to higher price realization. However, Madhya Pradesh has reported weak arrivals from new crop. Traders are expecting decline in coriander prices in the near term. Stockiest offtake in local mandies are currently supporting the turmeric prices. Traders stated that weak production estimates to support prices in the near term. The total turmeric production is estimated at around 45-47 lakh tonnes in the current year. However, fresh arrivals from Erode will limit the upside at higher levels. Mustard seed prices have witnessed strong rally today due to limited supplies in major mandies such as Alawar and Bharatpue.The spot prices have been increased by Rs75 per quntal today. The demand of the mustard seed oil meal was steady at $280 per tonne. Buoyancy continued in chana market on production concerns. The prices were increased by Rs 50 per quintal to trade at Rs 3200 per quintal. Traders stated that total arrivals were reported at 25 motors down 5 motors from the last week. Traders are expecting strong surge in chana prices in the next marketing season due to limited supplies of old and new crop.
Sugar prices fell 5% in December to hit the lowest in three yearson sudden spurt in arrivals from mills to realize cash and pay farmers' cane dues. Data collated by the apex industry body the Indian Sugar Mills Association (ISMA) said average ex-factory sugar prices in Uttar Pradesh declined to Rs 2,480 a quintal now as against Rs 2,612 a quintal in November and Rs 2,683 a quintal in October.
ECONOMIC NEWS Sugar production rose by 47 per cent to 42.25 lakh tonnes till December 15 of this marketing year, which started in October this year, leading to a fall in ex-factory prices of the sweetener.Sugar production of India, the world's second largest producer and biggest consumer, stood at 28.77 lakh tonnes in the year-ago period."Sugar production upto 15th December 2014, in the current 2014-15 sugar season is 42.25 lakh tonnes," Indian Sugar Mills Association (ISMA) in a statement.The association attributed the increase in sugar output to early start of crushing compared to last year. As against 426 sugar mills which were crushing sugarcane on 15th December last year, ISMA 442 sugar mills have started their operations as on December 15, 2014.Maharashtra has produced 20.73 lakh tonnes of sugar so far as compared to 12.96 lakh tonnes in the year-ago period."7.94 lakh tonnes of sugar has been produced by UP sugar mills in the current season upto 15th December, 2014, as compared to 3 lakh tonnes in the corresponding period last year. Maharashtra’s cooperative sugar industry has sought Prime Minister Narendra Modi's intervention to stay afloat during the ongoing crushing season. Cooperatives have demanded a support price of Rs 700 per tonne to bridge the gap between the sugar price and cost of production. They have also demanded incentives for export of 4 million tonne (MT) of raw sugar in two years and an increase in import duty from 25% to 40% to achieve stability in the domestic sugar market.Besides, the state cooperative sector has asked for a waiver of the excise loan, restructuring of term loan and creation of a buffer stock of 7.5 MT.
4
Fundamental Watch : Castorseed National & International Market Update Cash market trades mixed on normal trading activities in major trading hubs in Rajasthan and Gujarat. Lower demands for oil and its other products remain restrictive for market fundamentals. Arrival from new crop is likely to increase by mid January and stake holders may release stock from new months. It may pressurize price of seed in the weeks ahead. There is a gossip in the market that major portion of stock is in strong hands and they are buying only to drag price up at this point of time. Crushing activity is reported lower and it is hardly 35 to 40 thousand tonne per month,way behind from normal crushing of 75 to 80 thousand a month.T his implies that oil demand is much lower at this point of time. Castor oil export from India is bound to dip by 15 percent in comparison to last year as major buyers like China has reduced its buying considerably in 2014. Market participants expect around 4 lakh tonne castor oil export in current MY while India has exported 4.79 lakh tonne oil last year(2013). Castor Meal Export (FAS), Ex 窶適andla traded up by $5 to $140 per tonne as compared to last week. It is 22.86 percent higher from the price of Dec 2013. Castor seed oil export price has decreased slightly in last four weeks and it is now being quoted at $1470 per tonne. New castor crop would start hitting the market by the end of December but it would not impact the price due to lower volume of arrivals. In the second week of December India exported 232.49 thousand tonne of meal MT at an average price of $123 per tonne. Taiwan emerged as a major buyer in the month of December too. Buyers from EU, China and Japan are expected to restrict their buyings and only need based buying may be seen in the near term. Buyers are trying to analyse new crop size and improvement in arrivals at this point of time. Last week FOB quotes in Kandla hovered at $1470 per tonne. It may stay steady from current level. No fresh trade was reported at this level today. Demand for oil has decreased considerably in last two months.
CASTORSEED ARRIVALS AT KEY SPOT MARKET CENTER
17-Dec-14
16-Dec-14
Change
SUMERPUR
100
160
-60
JODHPUR
NR
NR
-
RAJKOT
250
275
-25
GONDAL
181
118
+63
PATAN
4477
3540
+937
DEESA
1726
2482
-756
KADI
1200
1120
+80
5
Technical Outlook
SELL DHANIYA JAN BELOW 12970 TGTS 12940,12890 SL 13020
SELL GUARGUM JAN BELOW 11400 TGTS 11350,11250 SL 11490
BUY CASTORSEED JAN ABOVE 4760 TGTS 4790,4840 SL 4710
BUY TMC APR ABOVE 8000 TGTS 8050,9050 SL 7910
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