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Epic research weekly agri report 27th june 2016
1. WEEKLY AGRI COMMODITY REPORT
27 JUNE 2016
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2. Weekly Wrap Up
2
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
CORIANDER
JUNE 6905 7319 6905 7273 +5.93 18760
INTRADAY
LEVELS
SUPPORT SUPP.1
7012
SUPP. 2
6752
PIVOT
7166
Coriander short term
trend is bearish and
may continue in coming
days.RESISTAN
CE
RES. 1
7426
RES. 2
7580
CASTORSEED
- - - - - - -
INTRADAY
LEVELS
SUPPORT SUPP. 1
-
SUPP. 2
-
PIVOT
-
-
RESISTAN
CE
RES. 1
-
RES. 2
-
TURMERIC
JUNE 7930 8260 7900 8160 +3.26 31810
INTRADAY
LEVELS
SUPPORT SUPP. 1
7953
SUPP. 2
7747
PIVOT
8107
Turmeric short term
trend is bearish and
may continue in coming
days.RESISTAN
CE
RES. 1
8313
RES. 2
8467
GUARGUM
JUNE 5200 5610 5160 5420 +4.23 72966
INTRADAY
LEVELS
SUPPORT SUPP. 1
5183
SUPP. 2
4947
PIVOT
5397
Guargum Short term
trend is bearish and
may continue in
coming days.RESISTAN
CE
RES. 1
5633
RES. 2
5847
4. Commodities In News
4
ECONOMIC NEWS
Policy makers and agricultural experts are not too sure whom to trust
when it comes to weather and this is hampering them from taking the right
decision on planting, especially cotton crop.While some of them rely on
forecasts by the India Metereological department, others seek inputs from
public and private agencies to decide on sowing patterns.Based on the
forecast of a dry spell of about 10-15 days in July in central India, Nagpur-
based Central Institute of Cotton Research (CICR) has advised farmers to
complete cotton sowing by June end to avoid resowing. Though India is
the top exporter of cotton in the world, large tracts of cotton acreage are
dependent on monsoons for irrigation. Cotton seeds being expensive, the
stakes are high for cotton farmers."We use forecast of 4-5 different
agencies, including public and private ones. We also use the 90-day
forecast given by one private agency," said Keshav Kranthi, director,
CICR. A CICR advisory issued for June 13-19 for Gujarat states, "A
prolonged dry spell is expected in Ahmedabad, Vadodara, Patan and
Mehsana districts from the third mers to follow advisories based only on
the IMD's forecast."We want farmers to base their decisions on forecast
from only the official agencies,"said an official.The experimental forecast
by Pune-based Indian Institute of Tropical Meteorology too shows some
decrease in rainfall in central India in July. "As of now, we can give
predictions for the next 20 days. A clear picture on the July rainfall will be
possible towards June-end. We have forecast above normal rains for
July,"said DS Pai, head (long range forecasting), IMD.Monsoon is likely
to withdraw from India later than usual this year, with a vigorous spell of
rains towards the tail end of the season that typically ends in September,
the chief of the weather office said on Friday.The deficiency in June rains
will also narrow in the days the come, Laxman Singh Rathore told ."There
is a strong possibility that the terminal phase will be wetter and the
withdrawal will be later than normal," Rathore said.Monsoon rains, vital
for India's farm-dependent economy and its 1.3 billion people, arrive at the
southern coast of Kerala state by June 1 and start retreating by September
from the western state of Rajasthan.
Jeera on NCDEX settled up on anticipation of improved export demand in
coming months. Further, lower arrival of cumin in the spot market is mainly
due to lower crop this season and farmer's engagement with kharif crop
cultivation too fuelled the uptrend. Exporters reported active in the domestic
market. Export demand reported as compared to last year in the spot market
due to good quality supply. During the week period Jeera export reports
2348 tonnes. According to Dept of Commerce data, the export of jeera
during 2015- 16 (Apr-Feb) surged to 93,539 tonnes compared to 1.56 lt
exported last year same period.The exports for 2015-16 declined compared
to last year. As per third advance estimate of Gujarat State for 2015-16,
production is pegged at 2.13 lt higher by about 7% forecasted in revised
fourth advance estimate of 1.97 lt. In 2013-14, production was 3.46 lt.
Industrial buyers have already sourced sufficient quantity for the domestic
requirements but the export demand may pick up as prices have been going
down since last one month. In the next few months, the prices will depend
on export demand.
Turmeric on NCDEX settled up on expectation of weak supplies in the
physical market. Though, some gains were capped on lack of upcountry
demand. Good sowing progress in Karnataka and Tamilnadu may pressurize
prices in coming weeks. The prices may be range bound to higher on reports
of forecast of above normal rains in turmeric growing area in south
India.Turmeric arrivals have been higher in February, March and April
compared to last year but the arrivals have slowed in May as per data.
However, the arrivals are higher by 105% in May 2016 compared to last
year same month. As per dept of commerce data, turmeric exports in 2015-
16 are pegged at 85,426 tonnes while the export for the 2014-15 was 90,738
tonnes for the same period. Producers are releasing their lower or medium
grade Turmeric and holding premium quality in the anticipation of better
return ahead on anticipation of some weather disturbances in the coming
monsoon. Spot turmeric prices at Erode markets were up Rs. 100 a quintal.
5. 5
NEWS RECAP
COMMODITY HEADLINES
Monsoon's June deficiency to narrow: Weather office.
Food Corporation of India to raise Rs 20,000 crore short-term loan.
Tea auction throughout the whole country has gone under dead lock.
Cotton farmers confused as forecasts unpredictable as weather.
India to tap Israel's renowned drip irrigation expertise.
No need for licensing pact with GM technology provider: NSAI.
Maharashtra okays Rs 2,000-crore bank guarantee for farm loans.
Kharif sowing begins as monsoon finally hits north, central India.
India to build 8 lakh tonne pulses buffer stock: Commerce Minister Nirmala Sitharaman.
Take over the defaulting sugar mills: Sanjeev Balyan to UP government.
Monsoon rains cover half of India; to accelerate sowing.
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