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DAILY AGRI COMMODITY REPORT

18 May 2016

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Market Views
MONTH

OPEN

HIGH

LOW

CLOSE

% CHG

VOL

MONTH

OPEN

HIGH

CORIANDER

JUNE

7300

7361

7252

SUPPORT

SUPP.1

SUPP. 2

7259

7201

7317

7310
RESISTAN
CE

RES. 1

RES. 2

7368

7419

+0.54

8980

Coriander short term


trend is bearish and May
continue in coming
days.

SUPPORT

SUPP. 1

SUPP. 2

8076

8192

8076

SUPPORT

SUPP. 1

SUPP. 2

8092

8026

8158

8142
RESISTAN
CE

RES. 1

RES. 2

8208

8258

% CHG

VOL

PIVOT

LEVELS

RESISTAN
CE

RES. 1

RES. 2

GUARGUM

PIVOT

INTRADAY
LEVELS

INTRADAY

TURMERIC

JUNE

CLOSE

CASTORSEED

PIVOT

INTRADAY
LEVELS

LOW

+0.89

5185

Turmeric short term


trend is bearish and
May continue in
coming days.

JUNE

5280

5290

5040

SUPPORT

SUPP. 1

SUPP. 2

4957

4873

5040

PIVOT

INTRADAY
LEVELS

5123
RESISTAN
CE

RES. 1

RES. 2

5207

5373

-3.82

16647

Guargum short term


trend is bearish and
May continue in
coming days.

Most Active Contract


NCDEX INDICES
TOP LOSERS

SYMBOL

EXPIRY DATE

CURRENT
PRICE

CHANGE

CHANGE
%

TURMERIC

20-05-2016

8530.00

-20.00

-0.23%

CORIANDER

20-05-2016

7266.00

-4.00

-0.06%

SOY BEAN

20-05-2016

3880.00

-2.00

Index

Value

Pre.
Close

%
Change

CASTORSEED

CHANA

5976

5804

+2.96

CORIANDER

7266

7264

+0.03

GUARGUM

4990

5190

-3.85

JEERA

16300

16280

+0.12

MUSTARD
SEED

4365

4386

-0.48

SOYABEAN

3880

3882

-0.05

TURMERIC

8530

8512

+0.21

-0.05%

TOP GAINERS

SYMBOL

CHANA

EXPIRY DATE

20-05-2016

CURRENT
PRICE

5976.00

CHANGE CHANGE %

142.00

2.43%

BARLEY

20-05-2016

1520.50

6.00

0.40%

JEERA

20-05-2016

16300.00

50.00

0.31%

Commodities In News
Turmeric on NCDEX settled down on anticipation of good sowing in
next season on forecast of good rains at the producing belts. Though,
some losses were capped on rising demand from traders and stockists at
the spot market. Turmeric arrivals in the main producing centres like
Nizamabad, Erode, Duggirala have been declining as farmers are
holding the stocks hoping prices to rise in the coming months.Forecast
of normal and timely onset of monsoon may bring down prices of
turmeric in the coming weeks it will boost the new crop prospects.
Turmeric supplies may slow down, as farmers may not sell at lower
prices. In the Delhi spot market turmeric single polish gattha was
traded at Rs 9,000-9,300 a quintal on lack of sufficient support from
masala manufacturers. During the Apr-Dec 2015, India exported
68,500 ton turmeric as against 64,785 ton a year ago because of
increased demand from Gulf countries. No turmeric bags arrived for
sale to the Regulated Market.
Jeera on NCDEX settled down as jeera output in Gujarat during
2015-16 is projected to be higher. However downside seen limited as
demand seems to increasing as arrivals are diminishing. Market players
are expecting good export demand on reports of good quality jeera
production this year. As per third advance estimate of Gujarat State for
2015-16, production is pegged at 213,000 ton higher by about 7% over
last previous output in the previous year, report added.Jeera arrivals
until April 30 in Unjha market stood at 1.5 million bags of 55 kg each.
Export demand for India's jeera is likely to be good in the current
financial as supplies from Syria and Turkey are likely to be lower due
to political instability though last year exports suffered a setback.
According to latest available data from the commerce ministry, the
export of jeera during first 11 month of 2015-16 (Apr-Jan) is 71,983
ton compared to 137,000 ton exported last year same period.Jeera
export is likely to remain around 90,000 ton during the current fiscal
down from 155,000 ton in the previous year. Export demand expected
to pick up further before monsoon rains in June, because physical
movement can be interrupted and may affects quality.

ECONOMIC NEWS
India Meteorological Department said on Monday the late arrival of the
monsoon will not delay crop sowing and that rains are expected to make
rapid progress after their arrival around June 7.Laxman Singh Rathore ,
chief of the India Meteorological Department (IMD), also told Reuters he
was sticking to the original forecast of above-average rainfall this year after
two straight years of drought that cut farm income.Monsoon rains, the
lifeblood for agriculture-dependent India, typically arrive on the southern
tip of Kerala state by around June 1 and cover the entire country by midJuly.On Sunday the IMD said the monsoon would arrive by June
7."There's a semblance of normality in the forecast that rains would arrive
by June 7. In effect, I don't see any impact on sowing or overall agricultural
productivity," Rathore said in an interview.Heavy rains have lashed
southern states of Kerala and Tamil Nadu in the past few days and showers
are expected to hit interior areas of Karnataka state in the next few days, he
said."Pre-monsoon showers will set the stage for sowing and rains are
expected to gather momentum once monsoon arrives by June 7," Rathore
said.Millions of farmers plant rice, cane, corn, cotton and soybean crops in
the rainy months of June and July. Harvesting starts from October.Current
weather patterns suggest that the monsoon would make a rapid progress
once rains arrive on the Kerala coast, said K. K. Singh, chief of agricultural
meteorology."At the moment there is cause for concern at all. We are set to
have plentiful rains this year," Singh said.The weather office last month
said El Nino - a warming of the eastern Pacific Ocean that can lead to dry
spells in South Asia - is fading and giving way to La Nina in which the
same waters cool.The monsoon season delivers about 70 per cent of India's
annual rainfall. It is critical for the country's 263 million farmers because
nearly half of their farmland lacks irrigation.Bountiful rains could keep a
lid on inflation and also encourage the Reserve Bank of India to cut interest
rate after the central bank in April eased its repo rate by 25 basis points to
its lowest in more than five years.

Fundamental Watch : Castorseed


National Market Update
Castor cash market traded almost steady despite continuous buying by oil
importers,taking advantage of lower price and higher seed arrivals in Gujarat's
various markets.Demand and supply side remain almost balanced. Over 1 lakh
bags seed arrived in various markets of Gujarat.Pressure is expected to
continue and seed price may slip by Rs 100 per qtl. fromcurrent level.
NCDEX has announced that it will pay money to those net sellers who
hadsold castor seed when castor seed contracts were suspended in January2016 as per announced formula.The exchange has announced the close out
price for the seed during that time.The person who had deposited seed in
exchange-accredited warehouses as hedgers at that time too would get money
as compensation.Protecting investors by paying them money is first such
move by any commodity derivative exchange.

India exported 9628.55MT castor oil during week ended 8thMay-2016 at an


average price of $1138.30 per MT. It is lower by 2.35.% from previous week.
The maximum and minimum prices were registered at $3793.77 and 910.44
per MT. Castor oil export would continue to stay steady as prices are lower
than normal expectation and availability is higher.
All India average price for castor seed decreased by 7.20 % from Rs 3558.35
to Rs 3301.88 perqtl during the week ended on 30th April-2016. However, it is
higher by 9.44% from the price registered during the second week of April.
When we compare average price of seed from April-2015, it rules lower by
5.35 % from current average price (Rs3301.88 per qtl.). Decrease in demand
for seed at higher level restricted firm tone during the week under review.
However, more dip is unlikely as pace for seed arrivals in markets has
declined.

CASTORSEED PRICES AT KEY SPOT


MARKET
CENTER

16-May-15

14-May-15

Change

SUMERPUR

3025

3050

-25

PATAN

3075

3125

-50

MEHSANA

3150

3140

+10

BHABAR

3110

3125

-15

HARJI

3125

3125

UNCH

RAJKOT

NR

3155

KADI

Closed

3190

Technical Outlook

SELL CORIANDER JUN BELOW 7225 TARGET 7180 7080 SL


ABOVE 7290

SELL GUARGUM JUN BELOW 5040 TARGET 4990 4920 SL


ABOVE 5100

SELL TURMERIC JUN BELOW 8160 TARGET 8116 8056 SL


ABOVE 8220

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