DAILY AGRI COMMODITY REPORT 17 February 2017
Our Presence Epic Research India 411 Milinda Manor (Suites 409- 417) 2 RNT Marg. Opp Central Mall Indore (M.P.) Hotline: +91 731 664 2300 Alternate: +91 731 664 2320 Or give us a missed call at 026 5309 0639
HNI & NRI Sales Contact Australia Mintara Road, Tarneit, Victoria. Post Code 3029 Phone.: +61 422 063855
Toll Free Number 1-800-200-9454 All queries should be directed to Info@epicresearch.co
HNI & NRI Sales Contact USA 2117 Arbor Vista Dr. Charlotte (NC) Cell: +1 704 249 2315
Call us at +91-731-6642300
Market Views MONT H
6746 RESISTA NCE
Coriander short term trend is bearish and May continue in coming days.
6963 RESISTA NCE
INTRADA Y LEVELS
Turmeric short term trend is bearish and May continue in coming days.
Guargum short term trend is bearish and May continue in coming days.
Most Active Contract NCDEX INDICES TOP GAINERS Symbol
V 797 KAPAS
SUGAR M GRADE
TOP LOSERS Symbol
GUAR SEED 10 MT
REF SOYA OIL
Commodities In News ECONOMIC NEWS Coriander futures edged higher on NCDEX as speculators built up fresh positions, tracking improved demand in the spot market. Besides, tight stock positions following restricted arrivals from major producing regions also added support to coriander prices’ uptrend. The contract for April delivery was trading at Rs 6744.00, up by 1.2% or Rs 80.00 from its previous closing of Rs 6664.00. The open interest of the contract stood at 23040 lots. The contract for May delivery was trading at Rs 6824.00, up by 1.01% or Rs 68.00 from its previous closing of Rs 6756.00. The open interest of the contract stood at 3020 lots on NCDEX. Soybean futures traded marginally lower on NCDEX on ample supply in the domestic spot market. Further, the harvest of an all-time high crop in Brazil, too added pressure to soyabean prices. The contract for February delivery was trading at Rs 2970.00, down by 0.03% or Rs 1.00 from its previous closing of Rs 2971.00. The open interest of the contract stood at 11760 lots. The contract for March delivery was trading at Rs 3019.00, down by 0.07% or Rs 2.00 from its previous closing of Rs 3021.00. The open interest of the contract stood at 199950 lots on NCDEX. Turmeric futures showed mixed trend on NCDEX as the April contracts traded lower on rising arrivals as the harvesting is going on in key producing states. Moreover, turmeric acreage in Telangana and Andhra Pradesh was higher this year as compared to last year. Production of turmeric in Telangana is seen rising 35% on year to 251,000 tn 2016-17 (Jul-Jun) due to favourable rains, while May contracts traded higher on improving domestic and up-country demand at the spot market. Country exported about 74,524 tons; up by 32% during April-Nov period compared last year exports of 56,471 tons. The contract for April delivery was trading at Rs 6962, down by 0.37% or Rs 26 from its previous closing of Rs 6988.
The second edition of the international spice conference being held at Thiruvananthapuram has stressed the significance to traceability in boosting consumer satisfaction and ensuring sustainable growth of the spices sector. Talking on the theme of disruption in spice quality standards, European Spice Association chairman Nils Meyer Pries said the road ahead for quality assurance in spices is the convergence of world for harmonisation of standards, and developing an information system where the consumer can examine quality and safety of any produce with reference to its origin and international standards. He said digital platforms could be put to use to manage traceability by collecting, storing, processing and disseminating data regarding farming, harvesting, processing, packaging and distribution. Cost effective numeric and alphanumeric bar coding, Matrix bar coding and other labels when linked with automated systems or mobile technology allows immediate retrieval of product information from anywhere, Nils Meyer said at the conference hosted by All India Spices Exporters Forum.
The government has forecast a robust 8% growth in farm output this year after bountiful monsoon rains, raising prospects of stronger rural demand for consumer goods, automobiles and gold, and strong economic growth. The strong growth comes after a drought ravaged the fields for two years and heightened rural distress, but the expected output betters the record production of 2013-14 by 2.6%. “Higher food grain production is good news for economy especially rural. This should help stabilise prices," said Ashok Gulati, agricultural economist and former chairman of the Commission for Agricultural Costs and Prices. However, he said it was important to wait for the rabi harvest to get a clear picture. The rabi crop is progressing well, but it can suffer if there is unseasonal rain or hailstorms on the eve of the harvest. Gulati said government must ensure that official agencies procure crops if prices tumble. Total foodgrain output will be 271.98 million tonnes, according to the agriculture ministry’s second advance estimates of major crops
BUY CORIANDER APR ABOVE 6780 TARGET 6795 6835 6800 SL BELOW 6730
SELL TURMERIC 20APR BELOW 6900 TARGET 6885 6845 6745 SL ABOVE 6950
SELL GUARGUM5 20MAR BELOW 6640 TARGET 6625 6575 6500 SL BELOW 6680
The information and views in this report, our website & all the service we provide are believed to be reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most.
Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable. This material is for personal information and based upon it & takes no responsibility.
The information given herein should be treated as only factor, while making investment decision. The report does not provide individually tailor-made investment advice. Epic research recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial adviser. Epic research shall not be responsible for any transaction conducted based on the information given in this report, which is in violation of rules and regulations of NSE and BSE.
The share price projections shown are not necessarily indicative of future price performance. The information herein, together with all estimates and forecasts, can change without notice. Analyst or any person related to epic research might be holding positions in the stocks recommended. It is understood that anyone who is browsing through the site has done so at his free will and does not read any views expressed as a recommendation for which either the site or its owners or anyone can be held responsible for. Any surfing and reading of the information is the acceptance of this disclaimer. All Rights Reserved.
Investment in equity & bullion market has its own risks.
We, however, do not vouch for the accuracy or the completeness thereof. we are not responsible for any loss incurred whatsoever for any financial profits or loss which may arise from the recommendations above epic research does not purport to be an invitation or an offer to buy or sell any financial instrument. Our Clients (Paid Or Unpaid), Any third party or anyone else have no rights to forward or share our calls or SMS or Report or Any Information Provided by us to/with anyone which is received directly or indirectly by them. If found so then Serious Legal Actions can be taken.