Epic Research Daily Agri Report 18th FEB 2016

1. DAILY AGRI COMMODITY REPORT 18 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 6812 6986 6788 6986 +3.68 6380 - - - - - - - SUPPORT SUPP.1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2 6854 6722 - - Coriander short term trend is bullish and May continue in coming days. PIVOT PIVOT INTRADAY LEVELS INTRADAY LEVELS - 6920 - RES. 1 RES. 1 RES. 2 RES. 2 RESISTAN CE RESISTAN CE 7118 - 7052 - TURMERIC GUARGUM APR 8520 8888 8520 8880 +3.79 14505 MAR 5750 5830 5690 5800 +1.05 12007 SUPPORT SUPP. 1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2 8637 8395 5717 5633 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 8763 5773 RES. 1 RES. 1 RES. 2 RES. 2 RESISTAN CE RESISTAN CE 9131 9005 5857 5913 2

3. Most Active Contract NCDEX INDICES TOP LOSERS Pre. Close % CURRENT PRICE CHANGE % Index Value SYMBOL EXPIRY DATE CHANGE Change CASTORSEED - - - TOP GAINERS CHANA +0.92 4400 4360 CURRENT PRICE SYMBOL EXPIRY DATE CHANGE CHANGE % CORIANDER +3.68 6986 6738 TURMERIC 20-04-2016 8880.00 270.00 3.14% CORIANDER 20-04-2016 6986.00 212.00 3.13% GUARGUM +0.70 5740 5700 COTTON SEED OIL CAKE AKOLA 19-02-2016 2111.00 39.00 1.88% JEERA +1.09 14785 14625 RAPESEED-MUSTARD SEED 20-04-2016 4036.00 59.00 1.48% MUSTARD SEED +1.41 4036 3980 SOYABEAN 19-02-2016 3765.00 32.00 0.86% JEERA 18-03-2016 14785.00 125.00 0.85% SOYABEAN +0.72 3765 3738 CHANA 20-04-2016 4400.00 30.00 0.69% TURMERIC +3.79 8880 8556 BARLEY 20-04-2016 1393.50 1.50 0.11% 3

4. Commodities In News ECONOMIC NEWS Turmeric settled down on profit booking after gaining on better quality arrival of turmeric and fears of lower output from the producing regions. Further, rising demand form stockists and traders at the spot market too supported turmeric prices. Demand for the old hybrid turmeric increased at Erode markets thereby lifting the price.The arrival of turmeric bags for sale was very poor. Only 2,400 bags arrived and 1,700 were sold. Traders, who have received some upcountry demand, procured all the 400 and odd bags of new turmeric and also some traders quoted high price for the old hybrid turmeric and purchased all the bags. At the Erode Turmeric Merchants Association, the new turmeric finger variety was sold at Rs. 9,008-10,029 a quintal; the root variety Rs. 8,153-9,091.The Old finger turmeric fetched Rs. 8,178- 9,925 and the root variety Rs. 7,709-9,108. Of the 1,500 bags offered, 1,100 were sold. Deficient rainfall in during early part of sowing in major Turmeric growing regions of Maharashtra and Karnataka may reduce the yield. India's sugar production up by 3.6% as on February 15 as compared to same period of previous year, according to industry body Indian Sugar Mills Association (ISMA).As on February 15, 2016, 472 sugar mills in the country were in operation and they produced 173.37 lakh tonnes of sugar, as compared to 167.24 lakh tonnes produced by 516 sugar mills as on February 15 2015.Sugar production in this season till February 15, 2016 is 6.13 lakh tonnes higher than the sugar produced upto the corresponding date last year. Of the 511 sugar mills that started crushing in 2015-16 SS, 39 mills have closed their operations.U.P. has produced 45.55 lakh tonnes of sugar till February 15, 2016 as against 42.25 lakh tonnes of sugar production last year till February 15, 2015.As on date, out of 116 sugar mills which started operation during the current sugar season, 1 sugar mill has shut its crushing operations. In Maharashtra, 177 sugar mills have produced 62.70 lakh tonnes of sugar till February 15, 2016, which is 3.5% lower to 65 lakh tonnes produced in last season on the corresponding date.About 33 sugar mills have closed their operation for 2015-16 SS, as compared to 1 mill which had closed in 2014-15 SS by February 15 2015. 64 sugar mills of Karnataka have produced 32.21 lakh tonnes of sugar as on February 15, 2016, compared with 28.55 lakh tonnes of sugar production in last year till February 15, 2015. 4 sugar mills have shut their crushing operations by February 15, 2016 for 2015-16 SS, as compared to 2 mills which had shut their crushing last year on the corresponding date.Andhra Pradesh and Telangana sugar mills have produced 5.50 lakh tonnes of sugar upto February15, 2016. This is lower to last year, during the same period, when there was a production of 6.25 lakh tonnes upto the corresponding date.In Tamil Nadu, 37 sugar mills have produced 4 lakh tonnes of sugar as on February 15, 2016, as compared to 3.25 lakh tonnes of sugar produced by 42 sugar mills in 2014-15 SS till February 15, 2015.As regards Gujarat, 8.08 lakh tonnes of sugar have been produced by 20 sugar mills as on February 15, 2016. 1 sugar mill has shut its crushing operation for the current sugar season. Last year, 19 sugar mills had produced 7.25 lac tons of sugar on the corresponding date. Chana settled up triggered by good physical demand from traders and stockists as new season crop hit the market. Production concerns may emerge in Rajasthan due to acute shortage of soil moisture and lack of rainfall during the growth stage. Considering the current weather scenario and feedback from the ground sources we believe that all India yield could be higher year on year by 10% due to expected rise in productivity in Madhya Pradesh and production for the season is forecasted to be 5.73 million tons.Year on year production is estimated up by 10%, however still lower than 5 year average by 23%. According to Australia Agriculture Department, this year chana production might increase up to 1.01 million tons, where as it was 555,000 tons during 2014-15 and 629,000 tons in 2013-14. On the other side, harvesting of pulses in Canada, Russia and other exporting nations has started which might limit the gain in the market. 4

5. Fundamental Watch : Chana National Market Update CHANA PRICES AT KEY SPOT MARKET According to the latest inflation update released by Government of India, Pulses Monthly Wholesale Price Index for the month of January is 370.1 which are around 2.1 % lower than the month of December. In month of December Wholesale Price Index was 378.2. CENTER 16-Feb-15 15-Jan-15 Change AHMEDNAGAR 4400 4350 +50 At present arrival of tur in Amaravati mandi is 5000-5500 bags with price range of Rs 8600-8700 per bag. Arrival of Tur in Vidharba region of Madhya Pradesh is good and it may continue till February. As per market participants farmers are holding tur in expectation of better prices in future. We can expect some firmness from March onwards when arrival pressure eases. ALWAR 4500 4450 +50 According to IBIS (provisional data), import of pulses in the week (01 Feb- 07 Feb) was around 119 Thousand tonnes at major ports in India, around 12% lower than previous week’s (25 Jan-31 Jan) import of 135 Thousand tonnes. Chana, Masoor, Pigeon Pea and Yellow Pea were imported lower this week whereas Green Pea, Urad, Cow Pea, Kidney Bean and Moong were imported higher as compared to last week. GWALIOR 4425 4350 +75 JAIPUR 4700 4700 UNCH According to the Ministry of Agriculture, final area under Rabi pulses throughout the country stood at 139.08 Lakh hectares as on 28th January this year, around 3% lower compared to the area of 143.01 Lakh hectares sown during corresponding period last year. KANPUR 4825 4825 UNCH NAGPUR NA 4100 - VIJAYWADA 4700 4650 +50 5

6. Technical Outlook BUY GUARGUM MAR ABOVE 5830 TARGET 5880 5950 SL BELOW 5770 BUY CORIANDER APR ABOVE 6980 TARGET 7025 7175 SL BELOW 6915 BUY TURMERIC APRIL ABOVE 8890 TARGET 8934 8994 SL BELOW 8830 6

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