10-Sep-2018 WEEKLY AGRI COMMODITY REPORT
For More Information Please visit www.epicresearch.co or contact info@epicresearch.co Please refer to disclaimer at the end of the report.
WEEKLY AGRI COMMODITY REPORT Weekly Wrap Up MONTH
OPEN
HIGH
LOW
CLOSE
% CHG
VOL
MONTH
OPEN
HIGH
LOW
CORIANDER
SEP
4664
4955
4635
SUPPORT
SUPP.1
SUPP. 2
4605
4460
RESISTANCE
RES. 1
RES. 2
4925
5100
4750
4780
1.84
44100
Coriander short term trend is bearish and may continue in coming days.
-
-
-
-
SUPPORT
SUPP. 1
SUPP. 2
-
-
6810
6810
6460
SUPPORT
SUPP. 1
SUPP. 2
6370
6240
RESISTANCE
RES. 1
RES. 2
6720
6940
-
-
-
PIVOT
LEVELS
RESISTANC E
RES. 1
RES. 2
-
-
-
-
GUARGUM 5MT
6500
PIVOT
INTRADAY LEVELS
VOL
INTRADAY
TURMERIC
SEP
% CHG
CASTORSEED
PIVOT
INTRADAY LEVELS
CLOSE
6590
-4.55
17555
Turmeric short term trend is bearish and may continue in coming days.
OCT
9540
9770
9280
SUPPORT
SUPP. 1
SUPP. 2
9186
8988
9385
PIVOT
INTRADAY LEVELS
RESISTANCE
RES. 1
RES. 2
9676
9968
9478
-1.62
132915
Guargum Short term trend is bearish and may continue in coming days.
WEEKLY AGRI COMMODITY REPORT Weekly Recommendations
BUY GUARGUM5 ABOVE 9450 TARGET 9550 9750 SL BELOW 9350 SELL GUARGUM5 BELOW 9300 TARGET 9200 9000 SL ABOVE 9400
BUY CORIANDER ABOVE 4820 TARGET 4890 4990 SL BELOW 4740 SELL CORIANDER BELOW 4720 TARGET 4650 4550 SL ABOVE 4800
WEEKLY AGRI COMMODITY REPORT Commodities In News India's export of oilmeals during April to August 2018 is reported at 1,192,095 tons compared to 986,606 tons during the same period of last year - up by 21%, according to figures compiled by the Solvent Extractors’ Association of India (SEA). The ongoing trade dispute between USA and China has created a lot of uncertainty and forcing China to look out to other origins for their requirements of soybean and oilmeals. This has compelled China to relook its ban imposed for importing of oilmeals from India since 2012. This will open up Chinese market for India, SEA said. Rice export prices in India slid to 17-month lows on sluggish demand and the rupee’s record fall. Rates for India’s 5 percent broken parboiled variety fell by $10 to $376-$380 per tonne this week. The Indian rupee has lost more than 12 percent so far in 2018 and hit a record low on Thursday, increasing exporters margins. In third-largest exporter Vietnam, however, rates for 5 percent broken rice rose to $397-$403 a tonne from $395-$400 last week. In Thailand, benchmark 5 percent broken rice fell to $385-$393, free on board (FOB) Bangkok, from last week’s $393-$395 due to slow demand, traders said. Tea exports from India during the first seven months of 2018 rose 6.6 percent from a year ago to 133.21 million kg as Egypt, Iran and Pakistan raised purchases, the state-run Tea Board said in a statement. Iran bought 15.24 million kg of tea during January to July, up from 13.21 million kg a year ago, the Board said. India, the world’s second-biggest tea producer, exports CTC (crush-tear-curl) grade mainly to Egypt, Pakistan and the UK, and the orthodox variety to Iraq, Iran and Russia.
ECONOMIC NEWS As India heads for yet another year of record sugar production amid subdued global and domestic prices, millers from Karnataka and Maharashtra have asked the government to allow split the payment of fair and remunerative prices (FRP) instead of making it in one instalment, as stipulated by law. India is expected to produce 35.5 million tonnes of sugar in the 2018-19 sugar season starting October 1 as against an output of 32.25 million tonnes in the ongoing season, according to industry estimates. The Central government has started a monthly sugar release mechanism allocating a quota to each mill coupled with a minimum selling price of Rs 29/kg ex-mill. Though the measures have kept domestic prices firm at about Rs 30/kg at mill gates, it has also led to an accumulation of sugar stocks in the country. The Indian Sugar Mills Association estimates that closing stocks could be 19 million tonnes at the end of the 2018-19 season if the country does not export sugar.
Expected decline in the Indian natural rubber output by 18 to 20% this fiscal year will adversely impact the tyre industry, says ICRA Ltd., an investment information and credit rating agency. It has cited the flood in Kerala due to unusually high rainfall as the cause for the sharp fall in natural rubber (NR) which accounts for 35% of the overall input costs in the manufacture of tyres. This may result in pressure on operating margins of tyre manufacturers, ICRA said. K Srikumar, vice president, corporate sector ratings, ICRA said: ``Inundation and landslides in few districts, apart from the possible threat of diseases on immature plants will dampen the production over the next few months, the critical tapping season. We expect the NR output to decline by 1.21.4 lakh tonnes (18-20%)l during FY2019. NR accounts for 32% and 35% of total inputs, in volume and value terms respectively, with other key inputs including crude derivatives like synthetic rubber, carbon black, fabric, rubber chemicals etc. ‘’
WEEKLY AGRI COMMODITY REPORT NEWS RECAP COMMODITY HEADLINES
Sugar millers ask govt to allow spit payment of FRP
Government procures 38 mn tonnes rice so far in 2017-18; exceeds target
NR import to touch a record 5.3-5.5 lakh tonnes in FY2019, says ICRA
Haryana to buy one lakh tonnes bajra at MSP this year
India to surpass Brazil as top sugar producer, eyes bigger export share
Increase in September sugar quota raises pressure on prices
Maharashtra traders to resume buying of kharif crop without committing to pay MSP
Special compensation package for coffee growers
Kharif crop planting increases as heavy rains raise reservoir levels
Punjab plans to cut pesticides use in basmati rice
Onion, potato & tomato output drops slightly in 2017-18
WEEKLY AGRI COMMODITY REPORT Spot quotes Commodity Name
Location
Price
Commodity Name
Location
Barley
Jaipur
1672
Ref Soya Oil
Nagpur
Chana
Bikaner
3950
Ref Soya Oil
Mumbai
Chana
Delhi
-
Soy Bean
Indore
Chana
Indore
-
Soy Bean
Nagpur
Coriander
Kota
5035
Soy Bean
Kota
Cotton
Kadi
22971
Soymeal
Indore
Guar Gum 5MT
Jodhpur
9169 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
4286 4225
1945 4251 4308 746
Price
766 752
3426 3557 3275 29731 3065 3220 3142 3135 3311 6909
WEEKLY AGRI COMMODITY REPORT 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.