Weekly Epic Research Report

24-Sep-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

OCT

5230

5230

5080

SUPPORT

SUPP.1

SUPP. 2

5036

4983

RESISTANCE

RES. 1

RES. 2

5186

5283

5090

5133

-2.67

21410

Coriander short term trend is bearish and may continue in coming days.

-

-

-

-

SUPPORT

SUPP. 1

SUPP. 2

-

-

6710

6734

6440

SUPPORT

SUPP. 1

SUPP. 2

6396

6271

RESISTANCE

RES. 1

RES. 2

6690

6859

-

-

-

PIVOT

LEVELS

RESISTANC E

RES. 1

RES. 2

-

-

-

-

GUARGUM 5MT

6522

PIVOT

INTRADAY LEVELS

VOL

INTRADAY

TURMERIC

OCT

% CHG

CASTORSEED

PIVOT

INTRADAY LEVELS

CLOSE

6565

-2.80

9490

Turmeric short term trend is bearish and may continue in coming days.

OCT

9180

9425

8990

SUPPORT

SUPP. 1

SUPP. 2

9043

8799

9288

PIVOT

INTRADAY LEVELS

RESISTANCE

RES. 1

RES. 2

9478

9669

9234

1.17

80095

Guargum Short term trend is bearish and may continue in coming days.

WEEKLY AGRI COMMODITY REPORT Weekly Recommendations

BUY GUARGUM5 ABOVE 9400 TARGET 9500 9700 SL BELOW 9300 SELL GUARGUM5 BELOW 9200 TARGET 9100 8900 SL ABOVE 9300

BUY CORIANDER ABOVE 5200 TARGET 5300 5400 SL BELOW 5100 SELL CORIANDER BELOW 5080 TARGET 4980 4880 SL ABOVE 5180

WEEKLY AGRI COMMODITY REPORT Commodities In News  India has impulsed China to drop a years-long restriction on Rapeseed meal imports from the South Asian nation at a gathering with government authorities and feed makers as it aims to boost sales of critical farm goods amid growing US-China trade tensions. China was the biggest buyer of Indian Rapeseed meal until it banned the purchases in late 2011. The meeting was held at India's embassy in Beijing, the aim was to lobby China to resume purchases of Rapeseed meal, a key ingredient in animal feed, and to drum up interest in the country's other major agricultural products.  According to latest figures from the agriculture ministry, planting of kharif crops this season has increased over the previous year’s figure.

Planting has covered 1,057.81 lakh hectare from June to September 20, a 0.61% increase from 1,051.36 lakh hectares a year earlier. The government has set a target of planting kharif crop on 1,058.10 lakh hectares this year.

Rice, Oilseeds and Sugarcane saw the increase in this kharif season, Rice planting saw a 2.36% increase over the previous year at 385.85 lakh hectare. Planting of Oilseeds, chiefly Soyabean, Sesamum and Castor also increased. Sugarcane, was planted on 51.94 lakh hectares, up 4.17% from a year earlier.  The Uttar Pradesh government has announced the paddy procurement policy for 2018-19 under which it has set a target of procuring 50 lakh metric tonne of paddy. The state cabinet approved the procurement rate of Rs 1,750 per quintal for the common variety and Rs 1,770 per quintal for grade A variety. This is against last year’s price of Rs 1,550 per quintal for common variety and Rs 1,590 for A variety. Last year, the state procured 43 lakh metric tonnes of paddy. An additional sum of Rs 20 per quintal will be paid to the farmers for cleaning of paddy. This amount was Rs 10 earlier. The cabinet approved a scheme for online registration of farmers before procurement to ensure transfer of total amount payable to them through RTGS within 72 hours.

ECONOMIC NEWS  The commerce ministry has asked Russia to reduce the import duty on packet tea from 12.5% at present so as to boost exports of value added teas from India. “Russia is a traditional export market for Indian tea, and Indian tea producers are keen to beef up their presence in Russia,” Arun Ray, deputy chairman of the Tea Board of India told ET on Thursday. “Keeping that in mind the commerce ministry has urged the Russian government to rationalise the duty structure on packet tea.” Ray was speaking from Russia, where he was leading a delegation of Indian tea traders and commerce ministry officials. India’s tea industry aims to increase its exports to Russia to 65 million kg by 2020 from 48 million at present. Russia consumes about 170 million kg of tea annually and nearly 30% of its demand is met by India, followed by Sri Lanka, Kenya and China. Before the global economic meltdown, Russia was a market for orthodox teas, but subsequently it shifted to cheaper CTC teas. 

Anticipated decline in the cocoa output in the coming harvest season and rising prices of imported beans will hit the chocolate industry hard in the coming months. The cocoa processors are expecting a slump in the production during the harvest season in the country beginning November because of damage from heavy rains in Kerala and Karnataka, two major producers of the bean after Andhra Pradesh. “The growers say the production will fall by 50%.

We definitely expect a 40% drop in the production,’’ said M Suresh Bhandary, MD of Mangalore-based Campco Ltd., a major processor and chocolate producer. In 2017-18, the domestic production had shown a marginal increase of 5% over the previous year at 19866 tonnes. The cocoa prices are hovering around Rs 200 per kg, up from Rs 170 a few months ago. “This is the offseason price, but prices are not likely to come down even when the harvest begins because of shortfall,’’ said Bhandary. Imports are also likely to be costlier as the global prices at $2200 per tonne are nearly 10% higher from a year earlier.

WEEKLY AGRI COMMODITY REPORT NEWS RECAP COMMODITY HEADLINES 

India asks Russia to cut duty on packet tea



Oilseed exports gain, but prices rise on Re dive



Cocoa output to plunge in the coming season



Rs 65,634.93 crore released so far under PMKSY for 93 irrigation projects



Basmati rice exports face an uncertain outlook



Cabinet defers Rs 4,500 cr sugar package; proposal may come up next week



Rainfall deficit widens to 10% below normal levels



Rain, pests may hit Kharif crop in Gujarat, Maharashtra



Cabinet to discuss sugar bailout package on Wednesday



Stubble burning relies on farmers’ awareness, vigil as mechanisation inadequate this season



Oil Companies keen on pushing LPG in tea production replacing coal

WEEKLY AGRI COMMODITY REPORT Spot quotes Commodity Name

Location

Price

Commodity Name

Location

Barley

Jaipur

1400

Ref Soya Oil

Nagpur

Chana

Bikaner

4028

Ref Soya Oil

Mumbai

Chana

Delhi

-

Soy Bean

Indore

Chana

Indore

-

Soy Bean

Nagpur

Coriander

Kota

5036

Soy Bean

Kota

Cotton

Kadi

22349.55

Soymeal

Indore

Guar Gum 5MT

Jodhpur

9196 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

4302 4250

19500 4361 4334 736.95

Price

755.25 741.1

3391 3512.5 3350 27583 3120 3310.95 3240 3230.1 3485.7 6907.15

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