09-July-2018 WEEKLY AGRI COMMODITY REPORT
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WEEKLY AGRI COMMODITY REPORT Weekly Wrap Up MONTH
OPEN
HIGH
LOW
CLOSE
% CHG
VOL
MONTH
OPEN
HIGH
LOW
CORIANDER
JUL
4700
4827
4667
SUPPORT
SUPP.1
SUPP. 2
4663
4585
RESISTANCE
RES. 1
RES. 2
4823
4905
4741
4745
0.87
30340
Coriander short term trend is bearish and may continue in coming days.
-
-
-
-
SUPPORT
SUPP. 1
SUPP. 2
-
-
7360
7396
7078
SUPPORT
SUPP. 1
SUPP. 2
6986
6873
RESISTANCE
RES. 1
RES. 2
7304
7509
-
-
-
PIVOT
LEVELS
RESISTANC E
RES. 1
RES. 2
-
-
-
-
GUARGUM 5MT
7100
PIVOT
INTRADAY LEVELS
VOL
INTRADAY
TURMERIC
JUL
% CHG
CASTORSEED
PIVOT
INTRADAY LEVELS
CLOSE
7191
-3.53
16985
Turmeric short term trend is bearish and may continue in coming days.
JUL
8171
8654
8124
SUPPORT
SUPP. 1
SUPP. 2
8697
8940
8454
PIVOT
INTRADAY LEVELS
RESISTANCE
RES. 1
RES. 2
8697
8940
8410
3.46
60020
Guargum Short term trend is bearish and may continue in coming days.
WEEKLY AGRI COMMODITY REPORT Weekly Recommendations
BUY GUARGUM5 ABOVE 8700 TARGET 8850 9000 SL BELOW 8600 SELL GUARGUM5 BELOW 8300 TARGET 8150 7950 SL ABOVE 8400
BUY CORIANDER ABOVE 4830 TARGET 4930 5030 SL BELOW 4730 SELL CORIANDER BELOW 4730 TARGET 4630 4530 SL ABOVE 4830
WEEKLY AGRI COMMODITY REPORT Commodities In News A combination of factors has muddied the waters of the global Cotton market, at least in the short term, the International Cotton Advisory Committee (ICAC) said in its latest monthly report. Trade relations between the US - the world’s largest Cotton exporter - and China - the world’s largest Cotton consumer - are tense. China has announced a 25 per cent tariff on uncombed US Cotton that is scheduled to go into effect on July 6, 2018. The uncertain trade policies along with tight markets create uncertainty in the short-term in global Cotton markets. The government plans to offload 7-8 million tonnes of fresh Wheat from its huge stockpiles in the open market at Rs 1,890 per quintal rate for meeting the demand from flour millers and other bulk consumers. According to sources, the open market sale scheme (OMSS) is likely to be launched for disposal of Wheat for the 2018-19 marketing year (AprilJune). The food ministry is likely to sell 7-8 million tonnes of Wheat grown in 2017-18 crop year that ended last month. The rate at which the grain will be offloaded would be around Rs 100 per quintal higher than the last year, they added. The hike in the minimum support price (MSP) of major kharif (summer) crops by the Centre is probably going to support the Uttar Pradesh (UP) government’s roadmap to promote less water-intensive crops like Millets, Maize and Barley. The government had already been taking steps to encourage farmers to cultivate coarse cereals, including Maize, Jowar, Bajra (millets) and Barley apart from Paddy, which requires enormous amount of water and labour. The MSP would push further this agenda. Besides, the Sugar industry is hoping that the MSP hike would divert some Sugarcane area to other competing crops, so that cane acreage settles at a more comfortable level to prevent market glut, that ultimately results in excess production, Sugar price crash and arrears.
ECONOMIC NEWS The steep increase in the minimum support price (MSP) of summer-sown, or kharif crops, may lead to a storage problem in some states if there is a bumper harvest and market prices are lower than what state agencies offer, although the government is confident that it will manage the situation. Gujarat, Maharashtra and Madhya Pradesh face a shortage of storage space, said Sanjeev Kumar Chadha, MD, National Agricultural Cooperative Marketing Federation of India Ltd (Nafed), which last year procured close to 63 lakh tonnes pulses and oilseeds. “If there is a bumper kharif crop then storage will be an issue. The Centre is advising states to set up storage space in growing states, preferably near mandis. Warehousing corporation should empanel private players and sign MoUs (memoranda of understanding) with them as Gujarat and Rajasthan state are doing,” he said. Chadha said procuring chana in Maharashtra had been a huge challenge this year as the state didn’t have storage space. “We had to go as far as 300-400 km to get storage space,” he said.
Fresh fruit importer IG international has tied up with Camet Trading, Peru’s leading fresh and processed fruit trader, to import fresh Peruvian avocados to India. Through the first sea shipment of Peruvian Hass avocados, IG International will receive a 40-foot container carrying 4,000 boxes of avocados, which will be distributed in Mumbai, Delhi, Bangalore, Kolkata, Hyderabad, and Cochin. IG International’s partnership with Camet Trading marks a major development in India’s rapidly-growing fresh fruit market and further strengthens its position as the domain leader in the space. Camet Trading produces both Hass and Fuerte variants of avocados, and is one of the leading exporters of Hass avocados in Peru. From a commercial viewpoint, Hass avocados are the most popularly consumed avocados in the world. Commenting on the first shipment, Tarun Arora, Director, IG International said, “Our vision at IG International is to provide Indians with the freshest and healthiest fruits from around the world.
WEEKLY AGRI COMMODITY REPORT NEWS RECAP COMMODITY HEADLINES
MSP hike an eyewash, Centre's claim misleading: Agri experts
Oilmeals export witness decline in June
In case of a bumper crop, MSP hike may create storage issues
IG international ties up with Peru’s Camet Trading for import of Avocados to India
Government plans to sell 7-8 million tonnes of wheat at Rs 1,890/quintal to bulk consumers
India should take new bold reforms in agri-food sector: OECD-ICRIER report
Sugar prices rise 10% as government lowers sales quota for July
Modi's bonanza to Indian farmers hampered by funds, storage
Farmers give thumbs down to Kharif MSP hike
MSP hike to increase global price of cotton, rice
MSP hike to push CPI by 70 bps,roil fiscal nos, warn analysts
WEEKLY AGRI COMMODITY REPORT Spot quotes Commodity Name
Location
Price
Commodity Name
Location
Barley
Jaipur
1500
Ref Soya Oil
Nagpur
Chana
Bikaner
3750
Ref Soya Oil
Mumbai
Chana
Delhi
-
Soy Bean
Indore
Chana
Indore
-
Soy Bean
Nagpur
Coriander
Kota
5224
Soy Bean
Kota
Cotton
Kadi
5090
Soymeal
Indore
Guar Gum 5MT
Jodhpur
8547 Sugar M Grade
Kolhapur
Sugar M Grade
Kanpur
Sugar M Grade
Muzaffar Nagar
Sugar M Grade
Delhi
Sugar M Grade
Kolkatta
Turmeric
Nizamabad
GUAR SEED 2 MT
Jodhpur
Guarseed
Bikaner
Jeera
Unjha
Mustard seed
Jaipur
Mustard seed
Alwar
Ref Soya Oil
Indore
4103 4040
18658 4200 4205 756
Price
772 760
3617 3720 3508 3617 3206 3422 3363 3320 3452 7365
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