weekly-agri-report by epic research 17 dec 2012



WEEKLY AGRI REPORT 17TH DECEMBER 2012

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 HEADLINES  Turmeric gains colour on quality arrivals_blsnm Spot turmeric prices increased by Rs 200 a quintal as buyers preferred quality turmeric and quoted higher prices.“Only few orders were received from North India, so exporters and traders purchased limited stocks. But they quoted a higher price for the hybrid and fine variety turmeric and purchased reasonable stocks. Due to the increase in the turmeric futures, stockiest purchased huge



stocks predicting that prices may increase substantially.

TRADING TIP:

 BUY SOYABEAN JAN ABOVE 3443 TGTS 3483/3543 SL-3393  SELL CHANA JAN BELOW 3916 TGTS 3876/3816 SL 3866

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But studying the daily arrival, sales and other market prices of turmeric, immediate rise in prices is unlikely,” said R.K.V. Ravishankar, President, Erode Turmeric Merchants Association. He said the hybrid variety fetched a better price due to quality arrivals. The hybrid variety increased by Rs 560 a quintal on Thursday. Similarly, fine variety turmeric also fetched an increased price of Rs 200.

EXPERT OPINION STOCK

S1

S2

R1

R2

CHANA

3,897

3,847

4,016

4,085

RM SEED

4,030

3,971

4,179

4,269

SOYABEAN

3,288

3,177

3,476

3,553

JEERA

15,059

14,766

15,642

15,932

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WEEKLY MARKET ANALYSIS

PRODUCT EXP DATE  Pepper NAME

OPEN

HIGH

LOW

CLOSE

LTP

CHG

PERCENTAGE CHANGE

The pepper market headed north on Wednesday on good domestic demand amid limited supply, and as a result, the running up to close 39,300 a CHANA 7/19/2012 4556 4573 contract 4525 December 4560 moved 4532 -28 at Rs -0.61 quintal. However, February showed a marginal decline, while March remained steady at previous7/19/2012 levels. Good buying visible from Bihar, Utter Mumbai, CHILLI 5060 interest 5060 was 5018 5120 5018 Pradesh, -102 Delhi, -1.99 Gujarat and Madhya Pradesh, as demand has picked up for the winter/festival/wedding season in7/19/2012 the upcountry regions,1188 market. December contract on1178 the NCDEX GUR 1188 1178 1183.5 -5.5 decreased -0.46by Rs 290 a quintal to close at Rs 39,300 a quintal. February decreased by Rs 30 a quintal to close at Rs 34,435 a quintal, while March14960 remained14650 unchanged at Rs 34,225 JEERA 7/19/2012 14955 15052.5 14800a quintal.

-252.5 -1.68  Chilli

KAPAS

7/19/2012

1044

1053

1035

1049

1041

-8

-0.76

Red chilli prices recovered by Rs 100 per quintal in the national capital today on fresh buying by stockiest to meet rising exporters.42390 Restricted42435 arrivals from PEPPER 7/19/2012 42300 demand 42555from 42250 45 producing 0.11 belts also supported the upside in prices. Red chilli prices rose by Rs 100 to settle at Rs 6,40011,900 per quintal. 780.5 REF SOYA 7/19/2012 783.6 777.4 782.85 781.3 -1.55 -0.2  Turmeric

SOY BEAN

7/19/2012

4309

4330

4265.5

4303

4315

12

0.28

Turmeric we have seen that market has moved 1.6% on some fresh overseas enquiries though TURMERIC 7/19/2012 limited 4600 the upside.

4676 4518 4664 4540 -124 the new -2.66 higher inventories Expectations of fresh supplies from season crop that would arrive from January could put pressure on jeera at higher prices. There are WHEAT 7/19/2012from overseas 1251 1282 but1251 1246 improve 1282 more if 36prices stabilize 2.89 some enquiries buyers, demand could at these levels. Area under turmeric cultivation is lower this year due to scant rainfall during the planting season and a shift in acreage to other crops, but higher carry-forward stocks are expected to keep supplies firm. Turmeric production in 2012-13 is expected around 50-60% lower compared to last year's historical high of 90 lakh bags. .Jeera Jeera common and jeera best quality also increased by Rs 100 each to conclude at Rs 14,70014,900 and Rs 17,600-18,100 per quintal, respectively The following are today's quotations: Ajwain 10,000-15,000, black pepper (per kg) 425-560, betelnut (kg) 160-195, cardamom brown-Jhundiwali (kg) 830-930.

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 WEEKLY SOYABEAN CHART

ANALYSIS OPEN: 3260 HIGH: 3443 LOW: 3255 CLOSE: 3399

 SOYABEAN LOOKS UPWARDS  TREND: BULLISH  STRATEGY: BUY ON DIPS

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 WEEKLY CHANA CHART

ANALYSIS OPEN: 3975 HIGH: 4035 LOW: 3916 CLOSE: 3947

 CHANA LOOKS DOWNWARDS  TREND: BEARISH  STRATEGY: SELL ON RISE

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