Weekly Agri Report of 06 August 2018 by Epic Research

Page 1

06-AUG-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

AUG

5110

5240

4954

SUPPORT

SUPP.1

SUPP. 2

4916

4792

RESISTANCE

RES. 1

RES. 2

5202

5364

5040

5078

-1.36

46560

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

-

-

-

-

SUPPORT

SUPP. 1

SUPP. 2

-

-

7358

7420

7070

SUPPORT

SUPP. 1

SUPP. 2

7030

6875

RESISTANCE

RES. 1

RES. 2

7380

7575

-

-

-

PIVOT

LEVELS

RESISTANC E

RES. 1

RES. 2

-

-

-

-

GUARGUM 5MT

7186

PIVOT

INTRADAY LEVELS

VOL

INTRADAY

TURMERIC

AUG

% CHG

CASTORSEED

PIVOT

INTRADAY LEVELS

CLOSE

7225

-2.33

16270

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

OCT

9312

9944

9250

SUPPORT

SUPP. 1

SUPP. 2

9331

8943

9719

PIVOT

INTRADAY LEVELS

RESISTANCE

RES. 1

RES. 2

10025

10331

9637

4.34

150075

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


WEEKLY AGRI COMMODITY REPORT Weekly Recommendations

BUY GUARGUM5 ABOVE 9930 TARGET 10300 10250 SL BELOW 9800 SELL GUARGUM5 BELOW 9630 TARGET 8730 8530 SL ABOVE 9730

BUY CORIANDER ABOVE 5150 TARGET 5250 5500 SL BELOW 5050 SELL CORIANDER BELOW 4930 TARGET 4830 4700 SL ABOVE 5030


WEEKLY AGRI COMMODITY REPORT Commodities In News  The U.S Department of Agricultures' (USDA) Foreign Agriculture Service (FAS) maintains Indonesia's 2017/18 Palm Oil production at 38.5 million tons, increasing 5 percent to 40.5 million tons in 2018/19. The projected increase is based on trend yield growth and revised area. After a drop in 2017, Indonesian biodiesel production and consumption are expected to increase in 2018. The re-opening of the EU market for biodiesel exports in March, increasing crude oil and gasoline prices and government plans to expand biodiesel blending to the mining and nonpublic transport sector will increase industrial consumption of palm oil. Accordingly, Post revises industrial consumption to 4.2 million tons in 2017/18 and 4.5 million tons in 2018/19.  The Tamil Nadu (TN) has been witnessing a decline in Sugarcane production. The production which was 280 lakh tonnes in 2014-15 fell sharply over the year and stood at 165 lakh tonnes last year. The capacity utilization by TN sugar mills during the current season is only around 25 percent, leading to the higher cost of production, much higher than that of their counterparts elsewhere in the country. The water intensive crop has seen drop in production after the N-E monsoon failed over the last five years barring 2015.  A Finance Ministry notification in June had said that the higher tariffs on imports from the U.S. would come into effect from Aug. 4. Commerce Ministry has suggested the Department of Revenue to amend the notification for further extension of retaliatory measures on 29 products imported from US which includes Almonds, walnuts and pulses by another 45 days. According to another official, India and the U.S. are holding discussions to remove trade hurdles between the countries and India is expecting some positive outcome. The import duty on Walnut was to be hiked to 120 percent from 30 percent earlier, duty on Chickpeas, Bengal Gram and Masur Dal was to be hiked to 70 percent from 30 percent. Levy on Lentils was to be hiked to 40 percent from 30 percent.

ECONOMIC NEWS  Insurance companies have settled Rs 11,899-crore claims of eligible farmers under thePradhan Mantri Fasal Bhima Yojana (PMFBY) for the kharif 2017 season, the government said today. The claims are settled by both private and public sector general insurance companies. Under the flagship crop insurance scheme, both central and states provide premium subsidy in the 50:50 ratio over and above farmers' premium. "During kharif 2017 alone, claims of Rs 16,448 crore have been estimated and Rs 13,768 crore has been approved. Out of which, Rs 11,899 crore has been settled by the insurance companies," Minister of State for Agriculture Parshottam Rupala said in a written reply to the Rajya Sabha. In the 2016-17 crop year, total claims to the tune of Rs 15,352 crore were paid to the farmers, he said. To a query on drop in coverage under the PMFBY during 2017-18, the minister said this is mainly due to factors like the announcement of debt waiver scheme in Maharashtra and Uttar Pradesh, farmers' perception of mitigated risk, duplication due to Aadhar, among others. 

Buffeted by lower cane output and capacity utilisation after a string of crippling drought years, owners and chief executives Tamil Nadu’s private sugar mills had met Prime Minister Narendra Modi on Monday with a memorandum seeking rescheduling of loans and exemption from export subsidies, among others, to help them tide over the crisis. The delegation led by Palani G Periasamy, President of South Indian Sugar Mills Association, met the Prime Minister, and top bureaucrats in the Food Ministry to explain to them why Tamil Nadu's mills has been facing unique stress factors over the last few years. The southern mill owners delegation was joined by Defence Minister Nirmala Sitharaman, Union Shipping Minister Pon. Radhakrishnan, state BJP General Secretary Vanathi Srinivasan. A severe drought – the year 2016 was declared 62% deficient in monsoon – and falling recovery rates have put tremendous stress on the sugar mills, said the memorandum to the Prime Minister. “We have a very productive meeting with the prime minister.


WEEKLY AGRI COMMODITY REPORT NEWS RECAP COMMODITY HEADLINES 

Insurers settle farmers' Rs 11,899-crore claims under PMFBY for 2017 kharif season

Tamil Nadu sugar mills execs meet Prime Minister Modi on financial crisis

Integrated farming key to boost farmers income: Agriculture Minister

Sugarcane arrears to farmers down to Rs 16,600 crore: Government

Rains damage crops over 46,440 lakh hectare

Corporates look to procure apple from Kashmir growers as Himachal braces for another lean season due to climate change

Mango output in 2017-18 seen higher by 8 pc

Centre committed to double farmers income by 2022: MoS finance

Agri Min suggests green logistics corridor, use of e-comm to boost exports to $60 bn by 2022

States agree to supply milk under Mid-Day Meal, Anganwadi schemes

Govt removes restrictions on urea import for industrial, non-agriculture grade


WEEKLY AGRI COMMODITY REPORT Spot quotes Commodity Name

Location

Price

Commodity Name

Location

1627.4

Ref Soya Oil

Nagpur

4263.4

Ref Soya Oil

Mumbai

-

Soy Bean

Indore

-

Soy Bean

Nagpur

Soy Bean

Kota

Soymeal

Indore

Sugar M Grade

Kolhapur

Sugar M Grade

Kanpur

Sugar M Grade

Muzaffar Nagar

Sugar M Grade

Delhi

Sugar M Grade

Kolkatta

Turmeric

Nizamabad

Barley

Jaipur

Chana

Bikaner

Chana

Delhi

Chana

Indore

Coriander

Kota

5299.7

Cotton

Kadi

23066

Guar Gum 5MT

Jodhpur

9444

GUAR SEED 2 MT

Jodhpur

Guarseed

Bikaner

Jeera

Unjha

Mustard seed

Jaipur

Mustard seed

Alwar

Ref Soya Oil

Indore

4367 4290

19892 4334 4334 740

Price

762.25 748.3

3588 3711.75 3474 29131 3200 3409 3362 3296 3476 7420


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