23-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
AUG
4717
4796
4482
SUPPORT
SUPP.1
SUPP. 2
4566
4367
RESISTANCE
RES. 1
RES. 2
4880
4995
4765
4681
1.01
29860
Coriander short term trend is bearish and may continue in coming days.
-
-
-
-
SUPPORT
SUPP. 1
SUPP. 2
-
-
6960
7350
6960
SUPPORT
SUPP. 1
SUPP. 2
7076
6823
RESISTANCE
RES. 1
RES. 2
7466
7603
-
-
-
PIVOT
LEVELS
RESISTANC E
RES. 1
RES. 2
-
-
-
-
GUARGUM 5MT
7330
PIVOT
INTRADAY LEVELS
VOL
INTRADAY
TURMERIC
AUG
% CHG
CASTORSEED
PIVOT
INTRADAY LEVELS
CLOSE
7213
5.31
24190
Turmeric short term trend is bearish and may continue in coming days.
OCT
8840
9399
8731
SUPPORT
SUPP. 1
SUPP. 2
8911
8487
9335
PIVOT
INTRADAY LEVELS
RESISTANCE
RES. 1
RES. 2
9579
9823
9155
5.59
109775
Guargum Short term trend is bearish and may continue in coming days.
WEEKLY AGRI COMMODITY REPORT Weekly Recommendations
BUY GUARGUM5 ABOVE 9500 TARGET 9600 9800 SL BELOW 9300 SELL GUARGUM5 BELOW 9000 TARGET 8900 8700 SL ABOVE 9200
BUY CORIANDER ABOVE 4920 TARGET 5000 5150 SL BELOW 4900 SELL CORIANDER BELOW 4550 TARGET 4450 4300 SL ABOVE 4630
WEEKLY AGRI COMMODITY REPORT Commodities In News Garment manufacturers in Gujarat have predicted a rise of 10 per cent in the price of garments after the centre raised the Minimum Support Price (MSP) of Cotton. The centre raised the MSP on medium-staple and longstaple fiber Cotton by 28 per cent and 26 per cent, respectively. The MSP of Cotton (medium staple) was raised to Rs 5,150 per quintal from Rs 4020 per quintal and that of Cotton (long staple) to Rs 5,450 per quintal from Rs 4,320 per quintal. The increase in MSP will have a big impact on the prices of garments. In the run up to the upcoming festive season that extends till Diwali, we foresee a 8-10 per cent rise in cost of garments. Drought like situation is faced in some parts of Uttar Pradesh (UP) due to a monsoon deficit, which is hitting Paddy plantation and posing a threat to the timely sowing of other kharif crops too. The plantation of Paddy, one of the state’s main crops has been delayed due to deficit rainfall. The time for sowing Paddy will be over after July 31. Paddy is grown on 59 lakh hectares. But the crop has been sown only on 30 percent land so far. The remaining plantation has to be done by the month-end, beyond which plantation of all varieties, except the Basmati, would be too late. The Met department’s data available with the agriculture directorate shows that the state has received only 120.7 mm rainfall against the 249 mm normal between June and July (till July 17), which is only 48.5% of the normal. India’s import bill of Crude Oil and petroleum products rose 57% to $12.73 billion in June as compared to the same month last year. The ballooning of oil import bill comes on the back of a 60% rise in Brent, the benchmark for half the world’s crude, to $76 per barrel last month. Energy hungry India meets over 82% of its crude requirement through imports. The recent surge in international oil prices has resulted in worsening of Current Account Deficit (CAD) and fiscal deficit for the domestic economy apart from an inflated petroleum subsidy and high inflation. Total oil import bill in the first quarter of the current fiscal increased 49% to $34.64 billion, as compared to $23.18 billion in the corresponding quarter last fiscal.
ECONOMIC NEWS Tamil Nadu sugar mill owners and representatives have met Chief Minister Edappadi K Palaniswami seeking financial assistance and certain decontrol measures in the operations of sugar mills to tide over what they regard as "distressing" crisis following five years of less-than-desired rainfall in the state. The company officials met with the Chief Minister and presented a memorandum dated July 18, 2018. "Lower capacity utilisation, depressed sugar recovery and a massive fall in sugar prices have resulted in lower revenue generation," Palani G Periasamy, President of South Indian Sugar Mills Association told in the memorandum to the Chief Minister. Sugar rates have been touching lows for a year, but have risen from lows touched in May. The Indian Sugar Mills Association has predicted a higher output in the forthcoming Sugar season. The Centre has also announced a higher Fair and Remunerative Price for the farmers, fixed at Rs 275 a quintal for the 2018-19 sugar year. This does not augur well for states like Tamil Nadu where debtburdened sugar mills have found it difficult to pay lower FRPs. The Centre will give a 10 per cent incentive to boost export of dairy products and is also considering distributing milk through midday meal scheme and anganwadis as part of steps to ensure better returns to producers, Union minister Nitin Gadkari said today while urging agitating farmers to maintain calm. His comments came against the background of ongoing protest by farmers in Maharashtra to seek higher milk procurement prices and a Rs 5/L subsidy for milk. Asserting that the government was "serious" about farmers' problems, Gadkari assured that import of dairy items, if any, would be checked immediately even as the government was also contemplating providing dairy products as aid to some nations instead of funds. Gujarat and Maharasthra governments have announced some measures like subsidy on milk powder and other states should also follow this, the minister told reporters after a meeting with Finance Minister Piyush Goyal and Agriculture Minister Radha Mohan Singh here.
WEEKLY AGRI COMMODITY REPORT NEWS RECAP COMMODITY HEADLINES
TN sugar mills seek help from state government to combat adverse business scenario
Modi cabinet approves sugarcane price hike by Rs 20/quintal to Rs 275
Government hikes sugarcane price by Rs 20/quintal to Rs 275
Centre taking steps to boost milk producers income, says Nitin Gadkari
Cabinet committee to consider Rs 20/qtl hike in sugarcane price for 2018-19
Haryana farmers to get Rs 1500 crore more post enhanced MSP
Mumbai, Pune may face milk shortage as farmers' protest dirupts collection
Maharashtra farmers stir hits milk supplies, Opposition says govt 'indifferent'
IFFCO launches e-commerce platform for farmers, eyes $5 billion sales in 2 years
Loan waivers unburden farmers, burden economy: RBI report
NABARD to promote 5000 farmer producer organisations in next 2 years
WEEKLY AGRI COMMODITY REPORT Spot quotes Commodity Name
Location
Price
Commodity Name
Location
Barley
Jaipur
1583
Ref Soya Oil
Nagpur
Chana
Bikaner
4376
Ref Soya Oil
Mumbai
Chana
Delhi
-
Soy Bean
Indore
Chana
Indore
-
Soy Bean
Nagpur
Coriander
Kota
5119
Soy Bean
Kota
Cotton
Kadi
23066
Soymeal
Indore
Guar Gum 5MT
Jodhpur
8946 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
4215 4175
18650 4363 4385 745
Price
768 752
3576 3737 3474 28939 3200 3425 3341 3345 3523 7356
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