Epic Research Daily Agri Report 10th Feb 2016

1. DAILY AGRI COMMODITY REPORT 10 February 2016 Our Presence HNI & NRI Sales Contact Australia Toll Free Number 1-800-200-9454 All queries should be directed to Info@epicresearch.co 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 Mintara Road, Tarneit, Victoria. Post Code 3029 Phone.: +61 422 063855 HNI & NRI Sales Contact USA 2117 Arbor Vista Dr. Charlotte (NC) Cell: +1 704 249 2315 1 YOUR MINTVISORY YOUR MINTVISORY Call us at +91 Call us at +91- -7 731 31- -6642300 6642300

2. Market Views MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL CORIANDER CASTORSEED APR 6350 6589 6312 6516 +1.75 8120 - - - - - - - SUPPORT SUPP.1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2 6355 6195 - - Coriander short term trend is bullish and May continue in coming days. PIVOT PIVOT INTRADAY LEVELS INTRADAY LEVELS - 6472 - RES. 1 RES. 1 RES. 2 RES. 2 RESISTAN CE RESISTAN CE 6750 - 6633 - TURMERIC GUARGUM APR 8700 8930 8600 8930 +3.28 15580 MAR 5690 5720 5610 5690 -0.18 13110 SUPPORT SUPP. 1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2 8710 8490 5627 5643 Turmeric short term trend is bullish and May continue in coming days. Guargum short term trend is bullish and May continue in coming days. PIVOT PIVOT INTRADAY LEVELS INTRADAY LEVELS 8820 5673 RES. 1 RES. 1 RES. 2 RES. 2 RESISTAN CE RESISTAN CE 9150 9040 5657 5703 2

3. Most Active Contract NCDEX INDICES TOP LOSERS Pre. Close % Index Value Change CURRENT PRICE CHANGE % SYMBOL EXPIRY DATE CHANGE CASTORSEED - - - COTTON SEED OIL CAKE AKOLA 19-02-2016 2042.00 -22.00 -1.07% CHANA +1.20 4289 4238 BARLEY 20-04-2016 1428.00 -2.00 -0.14% SOYABEAN 19-02-2016 3718.00 -3.00 -0.08% CORIANDER +0.36 6672 6648 TOP GAINERS GUARGUM -0.53 5590 5620 CURRENT PRICE SYMBOL EXPIRY DATE CHANGE CHANGE % JEERA +2.00 14260 13980 TURMERIC 20-04-2016 8930.00 278.00 3.21% MUSTARD SEED JEERA 18-03-2016 14260.00 275.00 1.97% +1.63 3933 3870 CORIANDER 20-04-2016 6516.00 107.00 1.67% SOYABEAN -0.35 3718 3731 RAPESEED-MUSTARD SEED 20-04-2016 3933.00 63.00 1.63% TURMERIC +3.28 8930 8646 CHANA 20-04-2016 4289.00 51.00 1.20% 3

4. Commodities In News ECONOMIC NEWS Chana rallied jumped to one-week high as traders cut their short position and built up fresh positions, supported by pick-up in demand at the spot markets. Since last week prices where trading with weakness as gains were capped by good condition of chana crops in Madhya Pradesh and the recent cold wave is being considered beneficial to the standing crop.Also due to decrease in temperature India was seen good recovery in crops but this condition will also change the productivity that will support the prices. Support may see as extremes drought, un seasonal rains and now complicated by a warm winter for battling with all these government is planning to supply pulses in the domestic market at right time. The government has issued a tender for importing 5,000 tons of pulses to boost local supply and control the rise in prices. For curbing the rally in prices during 2016 the government has directed MMTC to import more pulses to improve supply in domestic market.According to the recent tender document, MMTC has invited global bids for import of 5,000 tons of pigeon peas of the latest crop from Myanmar, Malawi, Mozambique or any other origin. Reaching out to farmers, the government said it has decided to mark 60 per cent of expenditure under MGNREGA for agriculture and allied activities."To make NREGA useful for agriculture, we have decided that 60 per cent of expenditure under the scheme should be for agriculture and allied activities," Rural Development Minister Birender Singh said.The government has been maintaining from some time that employment under the scheme would be provided only through works that are more productive, asset creating and substantially linked to agriculture and allied activities.As MGNREGA completed ten years last week, Narendra Modi government, which was earlier critical of the UPA's flagship rural job scheme, hailed the measure saying the achievements of a decade are a "cause of "national pride and celebration".More than 64 per cent of the works taken up under the programme are linked to agriculture and allied activities, the government had noted.A senior official in the government said the decision to fix a minimum bar of 60 per cent expenditure on agriculture and allied activities under the scheme was taken after the NDA government came to power."Earlier it used to be around 54 to 55 per cent. After constant monitoring, it has now gone up to 64 per cent," the official said.Celebrating the completion of 10 years of the scheme, Finance Minister Arun Jaitley had said the government was committed to strengthening MGNREGA and it has allocated Rs 37,000 crore this fiscal, the highest ever budgetary support to the scheme.A Master circular was also issued on February 2, which consolidated all key instructions from the central government on the implementation of the Act.The 10th anniversary celebrations of MGNREGA on February 2 had set off a political slugfest with the NDA government saying it has "transformed" UPA's flagship rural jobs scheme by giving it record funds to boost economic growth, while Rahul Gandhi mocked Prime Minister Narendra Modi over the issue.  Mustard Seed settled up on improved demand in domestic market despite of oversupply woes in global market. Mustard Oil Processors Association (MOPA) President reported mustard crop production at 520,000-530,000 tons as compared to last year production of 480,000- 500,000 tons. Rajasthan agriculture department in its second advance estimate pegged state production around 340,000 tons for 2015-16 season.According to latest USDA report, global rapeseed production is projected at 67.7 million tons, up 180,000 tons compared to last month's forecast. Canada rapeseed production is raised 1.7 million tons to 17.2 million tons. China rapeseed imports for 2015/16 may decline to 4.25 million tons from 4.59 million tons. Rapeseed meal exports from India slumped 95.51% on year to 1,990 tons in January compared to 44,361 tons a month ago. Mustard production in the country may rise by 10 per cent to 5.5 million tonnes (mt) this year on account of favourable weather conditions in last few days. 4

5. Fundamental Watch : Sugar National Market Update SUGAR PRICES AT KEY SPOT MARKET India exported 89.09 thousand tons of sugar for the week ending 31st January, 2016 while imported 23.42 thousand tons of sugar during the same interval. CENTER 09-Feb-15 08-Jan-15 Change 37 sugar mills in Tamil Nadu had produced 2.30 lakh tons of sugar in 2015- 16 (01st Oct, 2015 – 31st Jan, 2016) compared to 2.11 lakh tons of sugar production (by 39 mills) in 2014-15 (01st Oct, 2014 – 31st Jan, 2015). DELHI 3180 3180 UNCH Sugar production rose by 11.47% in Gujarat which produced 6.90 lakh tons of sugar during 2015-16 (01st Oct, 2015 – 31st Jan, 2016) compared to 6.19 lakh tons of production in 2014 -15 ((01st Oct, 2014 – 31st Jan, 2015). MUMBAI 3330 3330 UNCH VIJAYWADA 3420 3420 UNCH The combined sugar production of Andhra Pradesh & Telangana fell by 13.41% as the states produced 4.26 lakh tons of sugar in 2015 -16 (01st Oct, 2015 – 31st Jan, 2016) compared to 4.92 lakh tons of sugar in 2014 -15 (01st Oct, 2014 – 31st Jan, 2015). NAGPUR NR NR - Bihar, Uttarakhand, Punjab, Haryana and M.P had produced 3.05 lakh tons, 1.43 lakh tons, 2.60 lakh tons, 2.40 lakh tons and 1.90 lakh tons of sugar in 2015 -16 (01st Oct, 2015 – 31st Jan, 2016). CHENNAI 2975 3025 -50 510 sugar mills in India had produced 142.53 lakh tons of sugar in 2015-16 (01st Oct, 2015 – 31st Jan, 2016) which was 4.57% higher than the sugar produced last year by 517 mills during the corresponding period. AMBIKAPUR 2835 2835 UNCH DHAMPUR NR NR - 5

6. Technical Outlook BUY GUARGUM FEB ABOVE 5720 TARGET 5770 5840 SL BELOW 5660 BUY CORIANDER APR ABOVE 6540 TARGET 6585 6735 SL BELOW 6475 BUY TURMERIC APRIL ABOVE 8930 TARGET 8974 9034 SL BELOW 8870 6

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