30-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
4760
5159
4720
SUPPORT
SUPP.1
SUPP. 2
4819
4550
RESISTANCE
RES. 1
RES. 2
5258
5428
5089
4989
6.91
68980
Coriander short term trend is bearish and may continue in coming days.
-
-
-
-
SUPPORT
SUPP. 1
SUPP. 2
-
-
7280
7450
7170
SUPPORT
SUPP. 1
SUPP. 2
7170
7030
RESISTANCE
RES. 1
RES. 2
7450
7590
-
-
-
PIVOT
LEVELS
RESISTANC E
RES. 1
RES. 2
-
-
-
-
GUARGUM 5MT
7310
PIVOT
INTRADAY LEVELS
VOL
INTRADAY
TURMERIC
AUG
% CHG
CASTORSEED
PIVOT
INTRADAY LEVELS
CLOSE
7310
0.41
17465
Turmeric short term trend is bearish and may continue in coming days.
OCT
9150
9295
8750
SUPPORT
SUPP. 1
SUPP. 2
8890
8547
9233
PIVOT
INTRADAY LEVELS
RESISTANCE
RES. 1
RES. 2
9435
9637
9092
0.90
120630
Guargum Short term trend is bearish and may continue in coming days.
WEEKLY AGRI COMMODITY REPORT Weekly Recommendations
BUY GUARGUM5 ABOVE 9350 TARGET 9450 9600 SL BELOW 9250 SELL GUARGUM5 BELOW 9060 TARGET 8960 8810 SL ABOVE 9160
BUY CORIANDER ABOVE 5200 TARGET 5270 5370 SL BELOW 5100 SELL CORIANDER BELOW 5000 TARGET 4930 4830 SL ABOVE 5100
WEEKLY AGRI COMMODITY REPORT Commodities In News Following the Kerala High Court‟s interim stay on the imposition of Rs 500/kg minimum import price (MIP) for Black Pepper, the DirectorateGeneral of Foreign Trade has notified that imports under the advance authorisation scheme (AAS) by export-oriented units and units in special economic zones are „free‟ and exempt from the floor price. The revised policy conditions will be applicable to light Black Pepper, pepper that is neither crushed/ ground, or crushed/ ground. Further, it has been made clear that imports under AAS are “free” and exempted from the MIP condition when the import is for extraction of oleoresin for re-export by the manufacturer exporters. Global Wheat production is likely to fall to a five-year low following significant downgrades to crop prospects in the European Union and Russia, the International Grains Council said in its latest report. The intergovernmental body cut its forecast for world Wheat production in 2018/19 by 16 million tonnes to 721 million, the lowest total since the 2013/14 season. The EU Wheat crop was seen at 139.9 million tonnes, down from a previous projection of 147.3 million, with forecasts for the top four producers in the trading bloc, France, Germany, Britain and Poland, all revised down. China has allowed five more Rice processors in India to export the cereal to the world‟s second largest economy after inspecting their facilities while four companies were told to improve their storage conditions. Amid the stand-off with the US on trade tariffs, China appears to be serious on importing Rice from India, exporters said. In 2016, China had accredited 14 Rice exporters, after an inspection of their processing facilities in India, but prevented the physical shipment on quarantine issue claiming presence of a pest called „khapra‟ (cabinet) beetle. In June, an MoU was signed between China‟s General Administration of Customs and India‟s Department of Agriculture on phytosanitary requirements for exporting Rice from India to China.
ECONOMIC NEWS Basmati rice exporters have sought government intervention to help resume exports to Saudi Arabia, the second largest importer of basmati, which halted rice imports from India since June for non-compliance with its new stringent maximum level of pesticide residues in food items. Indian authorities are set to initiate dialogue with the Gulf kingdom to seek mellowing of maximum residue level (MRL) norms that are likely to hit exports of mainly rice, buffalo meat and few other food items. “The matter is being taken up with Saudi Arabia as the new MRL are not based on scientific facts and are too stringent to be fulfilled,” a senior official from Agricultural and Processed Food Products Export Development Authority (APEDA) said. Saudi Arabia‟s new MRL norms are not India-specific, though. Rice export to the country has halted since June after a consignment was tested positively for not fulfilling the new criteria for residue detection.
The government has notified a decision to allow sugar mills to manufacture ethanol directly from sugarcane juice or intermediate product called Bmolasses. The sugarcane control order of 1966 has been amended in this regard and the same has been notified by the Union Food Ministry. The move would help mills divert cane juice for ethanol manufacturing during surplus years. "When a sugar factory produces ethanol directly from sugarcane juice or B-molasses, the recovery rate in case of such factory shall be determined by considering every 600 litres so produced as equivalent to one tonne of production of sugar," the notification said. So far, mills were allowed to manufacture ethanol from by-product called C-molasses, after sugar was taken out while processing raw cane juice. Molasses is also used for manufacturing spirit and alcohol among other products. Last month, the government for the first time also fixed the price of ethanol produced from intermediary or Bmolasses at Rs 47.49 per litre for the marketing year starting December 2018.
WEEKLY AGRI COMMODITY REPORT NEWS RECAP COMMODITY HEADLINES
Exporters seek government intervention as Saudi Arabia halts basmati imports
Government notifies ethanol-making directly from sugarcane juice, B-molasses
DGFT exempts pepper exporters from MIP as growers meet Central ministers
Kerala HC stays MIP of Rs 500/kg on pepper for now
Monsoon rally cuts deficit to 2%, but poor rains in UP hit sowing
1 Kg of tea Guwahati tea auction centre fetched Rs 39,001 in pan India Auction system
Bayer-led global alliance ties up with Big Basket to boost farmers' income in India
Deficient rain in 1/4th of the country: IMD data
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
Centre taking steps to boost milk producers income, says Nitin Gadkari
WEEKLY AGRI COMMODITY REPORT Spot quotes Commodity Name
Location
Price
Commodity Name
Location
Barley
Jaipur
1603
Ref Soya Oil
Nagpur
Chana
Bikaner
4203
Ref Soya Oil
Mumbai
Chana
Delhi
-
Soy Bean
Indore
Chana
Indore
-
Soy Bean
Nagpur
Coriander
Kota
5309
Soy Bean
Kota
Cotton
Kadi
22708
Soymeal
Indore
Guar Gum 5MT
Jodhpur
8856 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
4157 4110
19361 4341 4327 743
Price
766 753
3541 3686 3437 28763 3186 3386 3302 3245 3428 7420
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