Agri Commodity Update

Transcription

1 21September2017 For More Information Please visit or contact Please refer to disclaimer at the end of the report.

2 Market Views MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL CORIANDER OCT CASTORSEED SUPPORT RESISTANCE SUPP Coriander short term trend is bearish and may continue in coming days. SUPPORT SUPP. 1 RESISTANC E TURMERIC OCT GUARGUM 5MT OCT SUPPORT SUPP. 1 SUPPORT SUPP. 1 RESISTANCE Turmeric short term trend is bearish and may continue in coming days. RESISTANCE Guargum Short term trend is bearish and may continue in coming days.

3 Most Active Contract TOP GAINERS Symbol Expiry Date Current Price Change Change % NCDEX INDICES Index Value Pre. Close % Change SOY BEAN % Castorseed CORIANDER % Chana GUAR SEED 10 MT % REF SOYA OIL % TOP LOSERS Symbol Expiry Date Current Price Change Change % Coriander Guargum5MT Jeera COTTON SEED OIL CAKE AKOLA % Musterseed BARLEY % Soybean JEERA % Turmeric

4 Soyabean futures traded marginally higher on NCDEX as speculators enlarged their positions due to fresh buying tracking lower acreage and dry conditions in soybean growing areas of Madhya Pradesh. The contract for October delivery was trading at Rs , up by 0.32% or Rs from its previous closing of Rs The open interest of the contract stood at lots. The contract for November delivery was trading at Rs , up by 0.16% or Rs 5.00 from its previous closing of Rs The open interest of the contract stood at lots on NCDEX. Jeera futures showed mixed trend on NCDEX as the September contracts traded higher on pickup in demand in the spot market, while October contracts traded lower on ample stocks position following higher supply from the producing regions. The contract for September delivery was trading at Rs , up by 0.23% or Rs from its previous closing of Rs The open interest of the contract stood at 3171 lots. The contract for October delivery was trading at Rs , down by 0.30% or Rs from its previous closing of Rs The open interest of the contract stood at lots on NCDEX. Turmeric futures traded up on NCDEX on account of fresh positions created by participants following upsurge in domestic as well as export demand in the spot market against restricted supplies from producing regions. The contract for October delivery was trading at Rs , up by 0.51% or Rs from its previous closing of Rs The open interest of the contract stood at lots. The contract for November delivery was trading at Rs , up by 0.42% or Rs from its previous closing of Rs The open interest of the contract stood at 2125 lots on NCDEX. Commodities In News ECONOMIC NEWS The country has no shortage of sugar and the government will ensure retail prices of the sweetener remain stable during the ongoing festive season, Union Food Minister Ram Vilas Paswan said today. At present, retail prices of sugar are ruling firm at Rs 43 per kg, slightly higher than Rs 40 a kg in the yearago period, as per the data maintained by the consumer affairs ministry. "There is no shortage of sugar in Uttar Pradesh and Maharashtra, major producing states. During the festival season, we will not allow prices to go up. We will ensure sugar rates remain stable," the food and consumer affairs minister told reporters on the sidelines of an event. There is no supply crunch in the country and the government has allowed southern mills to import 3 lakh tonnes of raw sugar at a concessional duty of 25 per cent to augment domestic supplies during the festival season, Paswan said. The country has a sugar stock of 27.7 million tonnes, which includes domestic production of 20.2 million tonnes in and 5,00,000 tonnes of imports and 7 million tonnes of last year's stock, he added. Saddled with a buffer stock of 18 lakh tonnes of pulses, Food Minister Ram Vilas Paswan today said the government is trying to dispose of the dals and asked entities, including cooperative NCCF, to do the needful. He also said the government will procure pulses in the current year as well if the rates fall below the minimum support price (MSP) level. For the first time, the government had last year decided to create a buffer stock of pulses to ensure better prices to farmers and at the same time use the stock to augment local supply in times of price rise. About 20 lakh tonnes of buffer were created through local procurement and imports. "We have stock of 18 lakh tonnes of pulses. We are trying to disposing it of at the earliest as dals have short shelflife. We have appealed many organisations like the NCCF," Paswan told reporters after the 49th AGM of the National Cooperative Consumers Federation (NCCF).

5 Technical Outlook BUY CORIANDER OCT ABOVE 4900 TARGET SL BELOW 4850 SELL TURMERIC OCT BELOW 7450 TARGET SL ABOVE 7500 BUY GUARGUM5 OCT ABOVE 8000 TARGET SL BELOW 7950

6 Daily Agri Update For India: Address: 411 Milinda Manor (Suites ) 2 RNT Marg. Opp Central Mall Indore (M.P.) For United States HNI& NRI Sales Contact: 2117 Arbor Vista Dr. Charlotte (NC)Cell: For Australia HNI & NRI Sales Contact: Mintara Road, Tarneit, Victoria, Post Code 3029 Cell: Singapore Contact Malaysia Contact Epic Research is one of India s largest Financial Advisory house. Epic Research is amongst leading and most valuable financial advisory provider companies in the private sector. DISCLAIMER 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 tailormade 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. 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. Any surfing and reading of the information is the acceptance of this disclaimer. Investment in equity, futures, Forex and commodity 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.