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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