Epic Research Daily Agri Report 17th Feb 2016

1. DAILY AGRI COMMODITY REPORT 17 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 6705 6820 6611 6774 +1.23 6690 - - - - - - - SUPPORT SUPP.1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2 6650 6526 - - Coriander short term trend is bullish and May continue in coming days. PIVOT PIVOT INTRADAY LEVELS INTRADAY LEVELS - 6735 - RES. 1 RES. 1 RES. 2 RES. 2 RESISTAN CE RESISTAN CE 6944 - 6859 - TURMERIC GUARGUM APR 8560 8690 8440 8610 +0.33 15480 MAR 5850 5930 5700 5770 -0.52 17006 SUPPORT SUPP. 1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2 8470 8330 5670 5570 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 8580 5800 RES. 1 RES. 1 RES. 2 RES. 2 RESISTAN CE RESISTAN CE 8830 8720 5900 6030 2

3. Most Active Contract NCDEX INDICES TOP LOSERS Pre. Close % CURRENT PRICE CHANGE % Index Value SYMBOL EXPIRY DATE CHANGE Change JEERA 18-03-2016 14660.00 -340.00 -2.27% CASTORSEED - - - RAPESEED-MUSTARD SEED 20-04-2016 3977.00 -38.00 -0.95% CHANA +1.35 4370 4312 BARLEY 20-04-2016 1392.00 -13.00 -0.93% CORIANDER +1.23 6774 6692 SOYABEAN 19-02-2016 3733.00 -10.00 -0.27% TOP GAINERS GUARGUM +0.18 5680 5670 CURRENT PRICE SYMBOL EXPIRY DATE CHANGE CHANGE % JEERA -2.40 14660 15020 CORIANDER 20-04-2016 6774.00 95.00 1.42% MUSTARD SEED -0.72 3977 4006 CHANA 20-04-2016 4370.00 55.00 1.27% SOYABEAN 0.00 3733 3733 TURMERIC 20-04-2016 8610.00 52.00 0.61% COTTON SEED OIL CAKE AKOLA TURMERIC +0.33 8610 8582 19-02-2016 2072.00 1.00 0.05% 3

4. Commodities In News ECONOMIC NEWS Ref Soya oil settled down on oversupply woes following robust imports data. India's soyoil imports surged four fold high to 490,718 tons in December compared to 97,027 tons for the same period a year ago, data released by the SEA of India showed. As per latest SEA data, edible oils import rose to 14.07 lt in December last year from 11.23 lt in December 2014. However, imports of non-edible oils fell to 11,467 tonnes from 17,996 tonnes in the year-ago period. Earlier, the Agriculture Ministry has proposed further hike in import duty of edible oils by 5 per cent in a bid to protect the interest of farmers, but the decision is still pending.The Ministry has proposed increase in import duty on crude edible oils to 17.5 per cent and on refined edible oils to 25 per cent from the existing level. Soymeal exports touched an all time low of 7,707 tonnes in January this year, due to higher bean prices in the domestic market. The export during April-January period of the current fiscal declined by 87 per cent to 69,266 tonnes compared to 5.35 lakh tonnes in the same period of previous year. Wheat output in India, the world's second biggest grower, is expected to rise by 8.42 per cent to 93.82 million tonnes in the 2015-16 crop year despite facing drought and warmer winter.In the 2014-15 crop year (July- June), wheat output had fallen to 86.53 million tonnes (MT) due to deficit rain and unseasonal weather conditions. Last year's wheat output has been revised further down by 2.41 MT in final estimates.This year's wheat production is, however, likely to be lower than the record 95.85 MT achieved in 2013-14 crop year.The output projections for wheat and other crops for 2015-16 were made in the second advance estimate released by the Agriculture Ministry."Initially, there were fears that wheat production could take a hit due to warmer winters and decline in sowing area. But fall in temperature towards January-end and adoption of better varieties has improved the crop prospects," a senior Agriculture Ministry official said.If there are no unseasonal weather conditions such as hailstorm in February- March, wheat output could further go up, which will be factored in the crop estimates of the ministry later, the official added.The government usually comes out with four advance foodgrain production estimates before the final one.The official said there are reports of yellow-rust disease outbreak in the wheat crop in parts of Haryana, which at present is not a serious issue.However, the agri-research body Indian Council of Agricultural Research (ICAR) and Directorate of Wheat Research are keeping a close watch on such developments and giving timely advisories to the state governments.Meanwhile, the Food Ministry has kept a target to procure 30 MT of wheat directly from farmers at a minimum support price. Last year, it had procured 28.08 MT.As per the second estimate, total foodgrain production is pegged at 253.16 MT for the current crop year, higher by 1.14 MT, over the production of 252.02 MT during 2014-15.Total foodgrain output is expected to exceed last year's level despite weak kharif crops owing to deficit monsoon and rabi crops due to shortage of water in reservoirs and relatively warmer winter, the ministry added. Jeera settled up on rising demand from stockists and traders at the spot market. Though, Good weather conditions for cumin crop in Gujarat and limited export demand, capped some gains. Jeera supply reported lower in the Unjha spot market as new arrivals started lower quantity. Sources revealed that, Jeera sowing is delayed by 20 - 25 days in Gujarat as a result new Jeera crop arrivals will delay compared to normal arrivals time.From February 1st-13th 2016, Jeera supply lower by 40600 bags (1 bag = 55 Kgs) as compared to last year same period. Jeera sowing in Gujarat until Jan 25 stood at 295,400 hectare up nearly 11% compared to year ago, according to data from state government. Sowing in Rajasthan is also reported to be higher due to better prices at the sowing of sowing operations. According to Dept of Commerce data, the export of jeera during first 8 month of 2015- 16 (Apr-Nov) is 56,787 tonnes, which is, lower as compared to last year. 4

5. Fundamental Watch : Castorseed CASTORSEED PRICES AT KEY SPOT MARKET National Market Update Total area under Castor crop in Gujarat for the year 2015-16 is 781,000 hectares as per the Government’s estimates. It has increased by 6 % as compared to the previous year, which was 734,000 hectares according to Government’s estimates. The area under Castor crop has increased across the major castor producing districts, with Kachchh reporting an increase in area by 28% this year as compared to last year’s government estimates and Vadodara reporting an increase in area by 23% this year as compared to last year’s government’s estimates as per global castor conference-2016.However,experts differ from this estimate and say production is even higher. CENTER 15-Feb-15 14-Jan-15 Change SUMERPUR 2975 2950 +25 PATAN 3045 3065 -20 Total area under Castor crop in India for the year 2015-16 is 1,136,300 hectares. Estimated total production of Castor Seeds in India for the year 2015-16 would be 13,97,000 tonnes (Area as per Government Area Estimates)Average yield for the year 2015-16 is 1229 kg/hectare . MEHSANA 2975 3000 -25 Estimated total production of Castor seeds in Gujarat for the year 2015-16 is 1,150,000 tonnes, as per Government area estimates. Average yield for the year 2015-16 is 1472 kg/hectare as against 1454 kg/hectare during the year 2014-15. There is a slight increase in yield this year (1%) as compared to last year. BHABAR 3035 3030 +5 HARJI 3025 3050 -25 Agriculture statistics Division, DES has released its 1st Adv estimates of Production of food-grains for 2015-16 on 16.09.2015.It has estimated 19.44 lakh tonne seed production this year. The production target for 2015-16 has been fixed at 20.34 lakh ton. India has produced 19.63 lakh tonne castor seed in 2014-15 as per revised 1st Adv estimate. Private trade estimate for the year is much lower and is between 15 to 16 lakh tonne for 2015-16.However,it is too early to talk about the final size as sowing is just over. RAJKOT 3040 3005 +35 KADI 2990 2985 +5 5

6. Technical Outlook BUY GUARGUM MAR ABOVE 5770 TARGET 5820 5890 SL BELOW 5710 BUY CORIANDER APR ABOVE 6800 TARGET 6845 6995 SL BELOW 6735 BUY TURMERIC APRIL ABOVE 8620 TARGET 8664 8724 SL BELOW 8560 6

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