Epic Research Daily Agri Report 26th Feb 2016

1. DAILY AGRI COMMODITY REPORT 26 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 6385 6395 6170 6233 -1.58 7700 - - - - - - - SUPPORT SUPP.1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2 6137 6041 - - Coriander short term trend is bearish and May continue in coming days. PIVOT PIVOT INTRADAY LEVELS INTRADAY LEVELS - 6266 - RES. 1 RES. 1 RES. 2 RES. 2 RESISTAN CE RESISTAN CE 6491 - 6362 - TURMERIC GUARGUM APR 8780 8834 8682 8724 -0.75 6735 MAR 5670 5700 5490 5560 -1.59 15198 SUPPORT SUPP. 1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2 8659 8594 5467 5373 Turmeric short term trend is bearish and May continue in coming days. Guargum short term trend is bearish and May continue in coming days. PIVOT PIVOT INTRADAY LEVELS INTRADAY LEVELS 8747 5583 RES. 1 RES. 1 RES. 2 RES. 2 RESISTAN CE RESISTAN CE 8898 8811 5677 5793 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 6233.00 -127.00 -2.00% TURMERIC 20-04-2016 8724.00 -66.00 -0.75% CHANA +1.31 4186 4132 JEERA 18-03-2016 14200.00 -90.00 -0.63% CORIANDER -1.58 6233 6333 BARLEY 20-04-2016 1403.00 -2.50 -0.18% SOYABEAN 18-03-2016 3683.00 -2.00 -0.05% GUARGUM -1.59 5560 5650 TOP GAINERS JEERA -0.87 14200 14325 CURRENT PRICE SYMBOL EXPIRY DATE CHANGE CHANGE % MUSTARD SEED +0.15 3934 3928 CHANA 20-04-2016 4186.00 59.00 1.43% SOYABEAN -0.05 3683. 3685 COTTON SEED OIL CAKE AKOLA 18-03-2016 2187.00 14.00 0.64% RAPESEED-MUSTARD SEED TURMERIC -0.75 8724 8790 20-04-2016 3934.00 2.00 0.05% 3

4. Commodities In News ECONOMIC NEWS Turmeric settled up by on short covering after prices dropped on lack of upcountry demand at the spot market. However, expectations of limited arrivals of quality turmeric from the producing belts, also supported prices. There are reports of production concern due to drought in Maharashtra and Andhra Pradesh. There is concern over production due to heavy rains during Nov-Dec in south India.Deficient rainfall in during early part of sowing in major Turmeric growing regions of Maharashtra and Karnataka may reduce the yield. As per dept of commerce data, turmeric exports until Nov 2015 pegged at 50,916 tonnes while the export for the 2014-15 is 90,738 tonnes compared to 78,360 tonnes in FY14. Spot turmeric prices decreased for want of upcountry demand. Also, arrivals increased to 5,000 bags of which only 60 per cent was sold. All the 1,050 bags of new turmeric were sold. The finger turmeric lost Rs. 600 a quintal and the root variety Rs. 950.At the Erode Turmeric Merchants Association sales yard, the finger turmeric was sold at Rs. 7,906-9,869 a quintal; the root variety Rs. 7,300-9,199. Of the arrival of 1,798 bags, 980 were sold. Government action to increase spending on irrigation and crop insurance is not enough to end a cycle of indebtedness that has led to thousands of farmer suicides, and a complete overhaul of credit and subsidies to farmers is needed, activists said.Drought in many parts of the country has hit rice, cotton and other crops, and lower world commodity prices have added to the farmers' plight.More than half India's farming households are in debt, owing banks and moneylenders hundreds of millions of rupees, despite numerous loan write-offs by successive governments.Tens of thousands of farmers across the country have killed themselves over the past decade, several farmers' lobbying groups said.Finance Minister Arun Jaitley, who presents the federal budget for fiscal 2016-17 on Feb. 29, has to balance stimulating economic growth with aiding farmers and poorer sections of society.Farmers' groups have been demanding better monsoon forecasts, bigger fertiliser subsidies and a state-funded insurance scheme for all crops, to help farmers improve yields and help prevent crop failures."The need of the hour is a focus on the dying farmer community," said activist Kishor Tiwari, who heads a task force set up to recommend action to tackle farmer suicides in western Maharashtra state, which accounted for more than half of all suicides among Indian farmers in 2014."Debt is a core issue, and it needs a long-term plan to resolve it," he said.While inter-generational bonded labour in the farming community is no longer as common as before, the number of poor and landless workers who are in debt bondage is rising, particularly in agriculture, brick kilns and stone quarries, activists say.Indian farmers seldom own the land they cultivate, and often take loans to buy seeds and fertilisers. Only about one tenth of India's 263 million cultivators take out crop insurance premiums.Unpredictable weather and low crop yields have made farming unviable for many. Financial assistance provided by the government usually doesn't cover the losses, and some farmers have migrated to urban areasfor low-paid jobs, even selling their blood to make ends meet. Mustard Seed settled up on short covering after prices dropped on reports of higher production expected from Rajasthan. 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. The cold weather conditions have picked up in the northern and central India, which is good for standing mustard crop.Some winter showers have also given a breather to the farmers, as a drop in temperature benefits the standing crops. Currently, the mustard crop is at flowering stage and the flowering in mustard is higher by 10-15 per cent compared to last year. India's mustard output is seen rising for the first time in three years at 6.84 mt as per second advance estimates by Dept of Agriculture. Last year, the production was 6.31 mt. As per second advance estimate released by Commissionate of Rajasthan, mustard production is forecasted at 34.95 lakh tonne compared to 28.8 lt last year. because of the high 4

5. Fundamental Watch : Sugar SUGAR PRICES AT KEY SPOT MARKET National Market Update Indian sugar exports fell down by 23% this week (ending on 21st February, 2016) as the country exported 0.74 lakh tons of sugar during the week compared to 0.96 lakh tons of exports in the previous week. CENTER 25-Feb-15 24-Jan-15 Change DELHI 3250 3250 UNCH As per the latest UNICA report, Brazil’s main C.S region had churned around 2.69 MT of sugarcane in the first half of February, 2016 to produce 0.05 MT of sugar thereon. MUMBAI 3360 3350 +10 International Sugar Organization (ISO) upraised its global sugar deficit forecast from 3.5 MT to 5 MT in 2015-16 (01st Oct, 2015 – 30th Sep, 2016). Sugar production in Punjab rose by 12.7% as the state produced 3.55 lakh tons of sugar in 2015-16 (01st Oct, 2015 – 15th Feb, 2016) compared to 3.15 lakh tons of production last year during the same interval. VIJAYWADA 3450 3440 +10 The states of M.P and Chhattisgarh produced 2.80 lakh tons of sugar in 2015-16 (01st Oct, 2015 – 15th Feb, 2016) compared to 2.16 lakh tons of production in 2014-15 (01st Oct, 2014 – 15th Feb, 2015). NAGPUR NR NR - The combined sugar production of Andhra Pradesh and Telangana fell down by 12% as the states produced 5.50 lakh tons of sugar in 2015-16 (01st Oct, 2015 – 15th Feb, 2016) compared to 6.25 lakh tons of production in 2014-15 (01st Oct, 2014 – 15th Feb, 2015). CHENNAI 3050 3050 UNCH AMBIKAPUR 2835 2835 UNCH Tamil Nadu had produced 4 lakh tons of sugar in 2015-16 (01st Oct, 2015 – 15th Feb, 2016) which was 0.75 lakh tons higher than the sugar produced last year during the same interval. DHAMPUR 3225 3220 +5 5

6. Technical Outlook SELL GUARGUM MAR BELOW 5460 TARGET 5410 5340 SL ABOVE 5520 SELL CORIANDER APR BELOW 6170 TARGET 6125 5975 SL ABOVE 6235 SELL TURMERIC APRIL BELOW 8710 TARGET 8666 8606 SL ABOVE 8770 6

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