Epic Research Daily Agri Report 23rd Feb 2016

1. DAILY AGRI COMMODITY REPORT 23 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 6610 6641 6405 6438 -3.03 10180 - - - - - - - SUPPORT SUPP.1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2 6348 6259 - - Coriander short term trend is bearish and May continue in coming days. PIVOT PIVOT INTRADAY LEVELS INTRADAY LEVELS - 6495 - RES. 1 RES. 1 RES. 2 RES. 2 RESISTAN CE RESISTAN CE 6731 - 6584 - TURMERIC GUARGUM APR 8736 8910 8682 8900 +1.88 8260 APR 5800 5880 5740 5860 +0.51 3072 SUPPORT SUPP. 1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2 8751 8603 5773 5687 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 8831 5827 RES. 1 RES. 1 RES. 2 RES. 2 RESISTAN CE RESISTAN CE 9059 8980 5913 5967 2

3. Most Active Contract NCDEX INDICES TOP LOSERS Pre. Close % Index Value Change CURRENT PRICE CHANGE % SYMBOL EXPIRY DATE CHANGE CASTORSEED - - - CORIANDER 20-04-2016 6438.00 -452.00 -6.56% JEERA 18-03-2016 14085.00 -495.00 -3.40% CHANA -0.59 4228 4253 RAPESEED-MUSTARD SEED 20-04-2016 3938.00 -79.00 -1.97% CORIANDER -3.03 6438 6639 CHANA 20-04-2016 4228.00 -74.00 -1.72% GUARGUM +0.17 5770 5760 SOYABEAN 18-03-2016 3746.00 -51.00 -1.34% COTTON SEED OIL CAKE AKOLA 18-03-2016 2118.00 -4.00 -0.19% JEERA -1.26 14085 14265 TOP GAINERS MUSTARD SEED -1.15 3938 3984 CURRENT PRICE SYMBOL EXPIRY DATE CHANGE CHANGE % SOYABEAN -0.93 3746 3781 BARLEY 20-04-2016 1419.00 31.50 2.27% TURMERIC +1.88 8900 8736 TURMERIC 20-04-2016 8900.00 106.00 1.21% 3

4. Commodities In News ECONOMIC NEWS Ref Soya oil settled down as pressure seen due to profit booking amid higher supplies. However, expensive imports coupled with firm International market limited the downside to edible oil in domestic market. 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.The monthly soymeal exports have touched an all time low of 7,707 tonnes in January due to higher bean prices in the domestic market. Taking a dig at Odisha Government for 'tardy' utilisation of Central funds in the farm sector, Union Agriculture Minister Radhamohan Singh said agriculture output remained abysmally low in the state."Funds made available to Odisha are not being used properly in the agriculture sector. The pace of utilisation remains slow and the state has been unable to use allocated money in time," Singh told reporters after reviewing the agriculture scenario in the state at a high-level meeting.Because of slow pace of utilisation of the allocated funds in several schemes, major portion of the money often get carried over to next year, the minister said adding whatever funds are made available must be utilised properly in time for the interest of the farmers.It is a matter of concern that Odisha is lagged behind in farm output as compared to national average and other states, he said adding that the Centre is ready to extend help.Singh reviewed the scenario in the farm sector in Odisha in the presence of Petroleum Minister Dharmendra Pradhan and state Excise and Cooperation Minister Damodar Rout and Agriculture Minister Pradeep Maharathy.On allegations of suicide of farmers in the state which was hit by drought, Singh said he would discuss the matter with the state Government.Stating that funds and central assistance for Odisha in case of natural calamities have increased substantially during the NDA government compared to the previous UPA regime, he said money must be used properly.Singh said the Pradhan Mantri Fasal Bima Yojana would benefit the farmers in a big way as shortcomings of earlier schemes have now been addressed.Stating that the farmers should avail beenfits of the crop insurance scheme, the Union Minister said technology will be used extensively for early settlement of claims.While 25 per cent would be paid immediately, the rest would be given as soon as possible, he said adding premium to be paid by farmers for kharif crop will be 2 per cent and for rabi crop just 1.5 per cent.Similarly, Pradhan Mantri Krishi Sinchayee Yojana has been formulated amalgamating various ongoing schemes which would go a long way in raising irrigation coverage, he said.The Minister said the Centre is working towards integrating all the 585 wholesale mandis across the country under the e-agri market platform in a phased manner and 200 mandis would be integrated by the end of March this year. Jeera settled down due to decline in the export demand at the spot market. Though, fear of crop damage due to erratic weather in producing states, capped some losses. Acreage for jeera is estimated to rise by 15% to 7.5 lakh hectares. In Gujarat, we estimate acreage to increase by 13 % while in Rajasthan acreage is estimated to rise by 16%. However, the acreage is seen lower by 4% when compared to the 5 year average.Hoping that weather would remain conducive till the harvest we forecast jeera production may increase by 13% to 4.05 lakh tonne. Indian jeera exports are higher for the past few years due to geopolitical tensions in Syria and Turkey. The exporters of cumin seeds (jeera) has stressed the need for safeguarding the interest of farmers in the country in order to maintain India’s ranking as the top exporting nation of the cash crop.Safeguarding of interest by different means will help farmers to stay motivated to not only keep sowing the crop, but also increase sowing acreage. 4

5. Fundamental Watch : Castorseed CASTORSEED PRICES AT KEY SPOT MARKET National Market Update Agricultural Statistics Division, Directorate of Economics & Statistics, India has revised its first Adv estimate for foodgrains and estimated 17.27 lakh tonne castor seed production for 2015-16 crop year,to be marketed in MY 2016-17.The production target for the year had been fixed at 20.34lakh tonne.India had produced 18.70 lakh tonne castor seed last year as per final estimate by DES..Against this private estimates hinges in the range of 14 to 15 lakh tonne for this year. CENTER 20-Feb-15 19-Jan-15 Change SUMERPUR 2950 2950 UNCH India exported 10369.60T castor oil during week ended 14th Feb-2016 at an average price of $1151.47 per tonne.It is higher by 3.52% from previous week. However price realization decreased by 3.68% from last week. The minimum and maximum prices were registered at $923 and 1959 per tonne. Castor oil export would continue to grow as prices are lower and availability is higher. PATAN CLOSED CLOSED - MEHSANA 3000 3000 UNCH With declining seed prices and increasing crushing of castor seed meal export continues to rise week on week basis. India exported 41700.99 tonne castor meal during week ended 14th Feb-2016 at an average price of $136.95 per tonne. The highest price received at $578.34 per tonne while the lowest bid was $84.42 per tonne. BHABAR NA 3035 - HARJI 3050 3060 -10 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. RAJKOT 2945 2935 +10 KADI 3000 3035 -35 5

6. Technical Outlook BUY GUARGUM MAR ABOVE 5880 TARGET 5930 6000 SL BELOW 5820 SELL CORIANDER APR BELOW 6400 TARGET 6355 6205 SL ABOVE 6465 BUY TURMERIC APRIL ABOVE 8910 TARGET 8954 9014 SL BELOW 8850 6

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