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Epic Research Daily Agri Report 25th Feb 2016

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Epic Research Daily Agri Report 25th Feb 2016

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  1. DAILY AGRI COMMODITY REPORT 25 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 6288 6372 6240 6360 +1.15 4470 - - - - - - - SUPPORT SUPP.1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2 6276 6192 - - Coriander short term trend is bullish and May continue in coming days. PIVOT PIVOT INTRADAY LEVELS INTRADAY LEVELS - 6324 - RES. 1 RES. 1 RES. 2 RES. 2 RESISTAN CE RESISTAN CE 6456 - 6408 - TURMERIC GUARGUM APR 8706 8824 8640 8790 +0.37 8820 MAR 5680 5690 5590 5630 -0.71 8234 SUPPORT SUPP. 1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2 8678 8567 5583 5537 Turmeric short term trend is bullish and May continue in coming days. Guargum short term trend is bearish and May continue in coming days. PIVOT PIVOT INTRADAY LEVELS INTRADAY LEVELS 8751 5637 RES. 1 RES. 1 RES. 2 RES. 2 RESISTAN CE RESISTAN CE 8935 8863 5683 5737 2

  3. Most Active Contract NCDEX INDICES TOP LOSERS Pre. Close % Index Value Change CURRENT PRICE CHANGE % SYMBOL EXPIRY DATE CHANGE CASTORSEED - - - SOYABEAN 18-03-2016 3683.00 -33.00 -0.89% CHANA 20-04-2016 4130.00 -13.00 -0.31% CHANA -0.55 4127 4150 BARLEY 20-04-2016 1409.00 -1.00 -0.07% CORIANDER +1.15 6360 6288 TOP GAINERS GUARGUM -0.71 5630 5670 CURRENT PRICE SYMBOL EXPIRY DATE CHANGE CHANGE % JEERA +0.11 14290 14275 COTTON SEED OIL CAKE AKOLA 18-03-2016 2172.00 55.00 2.60% MUSTARD SEED +0.72 3932 3904 CORIANDER 20-04-2016 6340.00 46.00 0.73% JEERA 18-03-2016 14320.00 100.00 0.70% SOYABEAN -0.78 3685 3714 RAPESEED-MUSTARD SEED 20-04-2016 3926.00 15.00 0.38% TURMERIC +0.37 8790 8758 TURMERIC 20-04-2016 8776.00 20.00 0.23% 3

  4. Commodities In News ECONOMIC NEWS Ref Soya oil settled down amid subdued intake by the stockists. However, expensive imports coupled with firm International market may provide support 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.The oil industry has asked government to increase the duty to 45% from the current 12.5% to give support to indigenous industry. The Ministry has earlier proposed increase in import duty on crude edible oils to 17.5 % and on refined edible oils to 25% from the existing level. India's export of oilmeals during January 2016 is reported ever lowest at 17,243 tons, down 91% as compared to 185,654 tons in the same month of previous year, according to data compiled by Solvent Extractors' Association (SEA).The overall export of oilmeals during April 2015 to January 2016 is more than halved to 1,005,085 tons. India exported 2,047,937 tons of oil meal during the same period of last year and 3,646,095 tons in 2013-14. President Pranab Mukherjee's address to the Parliament focussed on the BJP government's efforts to eradicate poverty , revive the farm sector, create infrastructure in rural areas, housing for all and job growth.In a speech lasting over an hour, the President devoted a large chunk of time to the farm and rural sector, indicating that the general Budget to be presented by Finance Minister Arun Jaitley s likely to focus on these two crucial segments.Mukherjee said the guiding principles of the government were "garibon ki unnati, kisaano ki samriddhi" (poverty eradication, farmers' prosperity) and "yuvaon ko roz gar (job creation for youth)".The President's speech outlined that the BJP govenment's focus is on "Sabka Vikas, beyond just advancement that dominates headlines", hinting that the Budget is expected to focus on financial inclusion and social security .The address skipped reference to big economic reforms or key reform legislations hinting at a significant shift in the Centre's thinking which is likely to reflect in the Budget.The President also reminded MPs, "India is a haven of stability in an increasingly turbulent global economy. GDP growth has increased making India world's fastest growing economy among large economies." The raging debate on nationalism also found an echo. Urging lawmakers to embrace the ideals of Netaji Subhas Chandra Bose, he quoted him: "Nationalism is inspired by the highest ideals of the human race: Satyam, Shivam Sundaram." Jeera settled up on expectation of lower yield in Gujarat due to hot weather conditions and plant disease. As per the final rabi sowing report, Gujarat has planted more cumin compared to last year sowing progress. Jeera is planted in about 10.8% more area at 2,95,400 hectares compared to 2,66,700 hectares last year same time. As per data, arrivals of Jeera in Gujarat markets for the calendar year 2015 is lower by 231 % at about 1.28 lt compared to 4.25 lt last year.As per second advance estimate of Gujarat State for 2015-16, production is pegged at 2.11 lt higher by about 7% forecasted in revised fourth advance estimate of 1.97 lt. In 2013-14 production was 3.46 lt. 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. Jeera (cumin) exports have been 1.55 lt in 2014- 15. According to govt data, exports for 2015-16 shows a decline trend compared to last year until September. Cotton prices are likely to remain range bound till the monsoon sets in. Traders, exporters and ginners expect a gradual but limited rise in prices during the second half of the cotton year. Indian investors had turned away from the commodity last year.According to the agriculture ministry, domestic prices have been lower than overseas prices since October 2014."As per the traders' estimate, 45 lakh bales are still in the hands of traders and ginners. We expect prices to go up by maximum 10% till September 2016," said a senior executive of a multinational export house, requesting not to be named. "However, the trend can reverse if the monsoon is good," he said. 4

  5. Fundamental Watch : Cotton National Market Update COTTON PRICES AT KEY SPOT MARKET Department of Agriculture, Ministry of Agriculture (MoA) in its second advance estimates, has revised the cotton production estimates downwardly for the season 2015-16 at 306.92 lakh bales (of 170 kg each). For the season 2014-15, the estimate was 346.23 lakh bales according to the first advance estimates for the season. CENTER 24-Feb-15 23-Jan-15 Change RAJKOT 4750 4780 -30 The Foreign Agriculture Services (FAS), division of USDA has lowered the production forecast for India in its latest report to 356 lakh bales. The reason for the downfall in the revision is lower yield expectation in Punjab and Haryana due to the attack of white fly and impact of pink bollworm in Gujarat. BHIWANI 4850 4900 -50 Total cotton arrival till January 27 this season remained 144.07 lakh bales (of 170 Kg each), around 30% lower as compared to 206.76 lakh bales previous season during the same period, according to Cotton Corporation of India. ADAMPUR 4655 4675 -20 AHMEDABAD 4750 4700 +50 India is likely to export 1.24 million tons (around 73 lakh bales of 170 kg each) of cotton in season 2015-16, around 9% higher than the estimates of previous month which was 1.26 million tons and around 36% higher as compared to 0.91 (around 53.76 lakh bales) million tons, the volume it exported in the previous season, according to USDA. GONDAL 4755 4830 -75 GUNTUR NA NA - RAICHUR 4780 4750 +30 5

  6. Technical Outlook SELL GUARGUM MARBELOW 5560 TARGET 5510 5440 SL ABOVE 5620 BUY CORIANDER APR ABOVE 6360 TARGET 6405 6555 SL BELOW 6295 BUY TURMERIC APRIL ABOVE 8810 TARGET 8854 8914 SL BELOW 8750 6

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