Epic Research Daily Agri Report 9th Feb 2016

1. DAILY AGRI COMMODITY REPORT 09 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 6368 6544 6368 6409 +1.47 6260 - - - - - - - SUPPORT SUPP.1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2 6337 6264 - - Coriander short term trend is bearish and May continue in coming days. PIVOT PIVOT INTRADAY LEVELS INTRADAY LEVELS - 6440 - RES. 1 RES. 1 RES. 2 RES. 2 RESISTAN CE RESISTAN CE 6617 - 6513 - TURMERIC GUARGUM APR 8648 8778 8580 8652 +1.41 9870 FEB 5610 5750 5570 5630 0.00 7959 SUPPORT SUPP. 1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2 8562 8472 5550 5470 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 8670 5650 RES. 1 RES. 1 RES. 2 RES. 2 RESISTAN CE RESISTAN CE 8868 8760 5730 5830 2

3. Most Active Contract NCDEX INDICES TOP LOSERS Pre. Close % Index Value Change CURRENT PRICE CHANGE % SYMBOL EXPIRY DATE CHANGE CASTORSEED - - - CHANA 20-04-2016 4238.00 176.00 4.33% CHANA +4.00 4238 4075 JEERA 18-03-2016 13985.00 300.00 2.19% COTTON SEED OIL CAKE AKOLA CORIANDER +1.47 6409 6316 19-02-2016 2064.00 40.00 1.98% TURMERIC 20-04-2016 8652.00 146.00 1.72% GUARGUM +0.00 5630 5630 CORIANDER 20-04-2016 6409.00 9.00 0.14% JEERA +2.94 13985 13585 TOP GAINERS MUSTARD SEED CURRENT PRICE +0.31 3870 3858 SYMBOL EXPIRY DATE CHANGE CHANGE % SOYABEAN -1.06 3721 3761 SOYABEAN 19-02-2016 3721.00 -12.00 -0.32% RAPESEED-MUSTARD SEED TURMERIC +1.41 8652 8532 20-04-2016 3870.00 -11.00 -0.28% 3

4. Commodities In News ECONOMIC NEWS Turmeric settled flat due to heavy arrivals at the spot markets. Besides, lower demand from stockists too weighed on turmeric prices. However there are reports of good up-country demand by the physical market players as quality turmeric arrived in south Indian markets. Further, 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 till September, 2015 pegged at 50,916 tonnes while the export for the 2014-15 is 90,738 tonnes compared to 78,360 tonnes in FY14. As on latest sowing data, turmeric sowing In AP, is recorded at 15,864 hectares increase over last years’ acreage as well normal sowing area progress however in Telangana, the sowing area is lower than the normal sowing area at 40,823 hac compared to 43,470 hac last year.The price of the finger variety (new) decreased by Rs. 75-200 a quintal and that of the old finger turmeric by Rs. 300. The new and old root variety lost Rs. 300. Taking a cautious stand on approving commercial farming of genetically modified Mustard, government today said a decision will be taken after "due deliberations" amidst strong opposition by activists and farmers against the commercialisation.After a meeting of Genetic Engineering Appraisal Committee (GEAC), the apex body that clears GM field trials in India, to deliberate on the feasibility of commercial farming of GM mustard, Environment Minister Prakash Javadekar said government will not rush through the decision on the issue."The application for commercialisation of GM Mustard was there for consideration. We have sought some more information on certain aspects of the data. We will take due deliberations before reaching any decision and will not rush through the decision," the minister said.His remarks came even as protesters staged dharna outside the ministry under the banner 'Sarson Satyagrah' and submitted a petition to him demanding that the government should not go ahead with commercialisation of GM mustard. Delhi Minister Kapil Mishra also joined the protesters.RSS-affiliated Swadeshi Jagran Manch is also opposing any move for commercialisation of GM mustard and has raised several technical issues including fears of cross-pollination between GM and non-GM crops.Javadekar also clarified that meeting of GEAC did not intend to given permission to GM Mustard. "It was a rumour that we were giving permission. There was no such agenda in the meeting," he added.While the minister said public health will not be compromised, he did not rule out the use of science for productivity."We cannot stop science from progressing. We cannot starve our population. There are other good alternatives of increasing our productivity like organic farming and using biotechnology for farming but at the same time the scientific methods are also important," he said.Earlier this week, the Supreme Court had also sought explanation from the government on its proposed move to introduce GM Mustard."Court has asked us information on the issue and we will submit it in 15 days," the minister said.Reacting to the allegation by activists and farmers that GEAC is going ahead on the issue in a secretive manner, Javadekar said the details that are legally important are duly provided. Jeera settled down on expectations of bumper crop this year in the producing belts. Though, some losses were capped by some export enquiries. Gujarat has planted more cumin until Jan 25, 2016 compared to last year sowing progress. In Gujarat, jeera is planted 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. 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 same period. 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. Jeera exports from India are likely to decline by about 40-45 per cent to around 85,000-1,00,000tonnes during 2015-16. increasing agricultural 4

5. Fundamental Watch : Cotton National Market Update COTTON PRICES AT KEY SPOT MARKET Monthly cotton exports during January noticed a downtrend as the demand from overseas remained weak during the month. Country exported 8.85 lakh bales of cotton during January around 46.8% lower compared to the exports of 16.64 lakh bales previous month and 32% higher compared to the exports of 6.71 lakh bales during the corresponding month last year, according to custom data released by IBIS. The major export destinations during January were Bangladesh, Pakistan, Vietnam, Malaysia and Indonesia. Total exports in the current season so far (during the period of October’15 to January’16) stood at 42.6 lakh bales around 63.6% higher when compared to 26.04 lakh bales, the export during the corresponding period last season i.e. 2014-15. CENTER 06-Feb-15 05-Jan-15 Change RAJKOT NA 4765 - BHIWANI 4825 4825 UNCH Mahyco Monsanto, a joint venture of US agriculture company Monsanto and Indian counterpart Maharashtra Hybrid seeds Company (Mahyco) has moved to Delhi High Court once again, requesting a stay on the functioning of the a nine member committee formed to set the maximum selling price (MSP)ofcottonseed. ADAMPUR 4700 4650 +50 AHMEDABAD 4750 4750 UNCH Cotton exports from India are likely to stand around 21.27% higher at 70 lakh bales this season that is 2015-16 as compared to 57.72 lakh bales previous season, according to the Textile Commissioner. The rise in exports is basically due to the drastic rise in cotton imports by Pakistan following the crop damage in the Punjab region of the country. Around 16.60 lakh bales of cotton has been imported by Pakistan so far in the current season as compared to the 3.79 lakh bales in the entire season of 2014-15. GONDAL 4755 4735 +20 GUNTUR NA NA - India is likely to produce 35.2 million bales of cotton in season 2015-16, 3.6 percent lower as compared to previous estimates, according to a senior government official. Last year the country produced around 38 million bales of cotton. RAICHUR 4730 4750 -20 5

6. Technical Outlook BUY GUARGUM FEB ABOVE 5630 TARGET 5680 5750 SL BELOW 5570 SELL CORIANDER APR BELOW 6370 TARGET 6325 6175 SL ABOVE 6435 BUY TURMERIC APRIL ABOVE 6430 TARGET 6474 6534 SL BELOW 6370 6

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