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DAILY AGRI COMMODITY REPORT
15 Apr 2015
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1
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Hotline: +91 731 664 2300
Alternate: +91 731 664 2320
Or give us a missed call at
026 5309 0639
Our Presence
YOURMINTVISORY Call us at +91-731-6642300
Market Views
2
MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL
CORIANDER
MAY 9300 9616 9250 9303 -1.07 29180
INTRADAY
LEVELS
SUPPORT SUPP.1
9163
SUPP. 2
9024
PIVOT
9390
Coriander short term
trend is up, further
more upside is expected
in coming days.RESISTAN
CE
RES. 1
9529
RES. 2
9756
CASTORSEED
MAY 3781 3805 3742 3751 -0.56 58570
INTRADAY
LEVELS
SUPPORT SUPP. 1
3727
SUPP. 2
3703
PIVOT
3766
Castorseed short term
trend is up, Prices
expected to go up in
coming days.RESISTAN
CE
RES. 1
3790
RES. 2
3829
TURMERIC
MAY 8460 8652 8360 8618 +3.04 17795
INTRADAY
LEVELS
SUPPORT SUPP. 1
8435
SUPP. 2
8251
PIVOT
8543
Turmeric short term
trend is up and may
continue in coming
days.RESISTAN
CE
RES. 1
8727
RES. 2
8835
GUARGUM
MAY 10010 10400 10100 10400 +4.00 10985
INTRADAY
LEVELS
SUPPORT SUPP. 1
10200
SUPP. 2
10000
PIVOT
10300
Guargum Short term
trend is up, Expecting
price may go up in
coming days.RESISTAN
CE
RES. 1
10500
RES. 2
10600
Most Active Contract
3
TOP GAINERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
JEERA 20-04-2015 17560.00 990.00 5.97%
TURMERIC 20-04-2015 8398.00 282.00 3.47%
CHANA 20-04-2015 3953.00 101.00 1.16%
RAPESEED-MUSTARD
SEED
20-04-2015 3660.00 87.00 2.43%
CASTOR SEED NEW 20-04-2015 3688.00 58.00 1.60%
BARLEY 20-04-2015 1160.00 15.00 1.31%
SOYABEAN 20-04-2015 3597.00 19.00 0.53%
TOP LOSERS
SYMBOL EXPIRY DATE
CURRENT
PRICE
CHANGE
CHANGE
%
CORIANDER 20-04-2015 8977.00 -362.00 -3.88%
V 797 KAPAS 30-04-2015 815.00 -16.50 -1.98%
COTTON SEED OIL CAKE
AKOLA
20-04-2015 1708.00 -20.00 -1.16%
REFINED SOY OIL 20-04-2015 599.50 -3.35 -0.56%
NCDEX INDICES
Index Value
Pre.
Close
%
Change
CASTORSEED 3747 3772 -0.66
CHANA 3912 3867 +1.16
CORIANDER 9091 9122 -0.34
GUARGUM 10100 9790 +3.17
JEERA 17560 16570 `+5.97
MUSTARD SEED 3660 3564 +2.43
SOYABEAN 3597 3561 +1.01
TURMERIC 8398 8192 3.47
Commodities In News
4
ECONOMIC NEWS
 Untimely rains and hailstorm have caused extensive damage to
crops as wheat samples collected in various districts of Haryana have
showed damage content, shriveled grains and lustre loss of up to 60
per cent in the crop.In its interim report submitted to Union Food
Ministry, Food Corporation of India (FCI) has found damage content
in wheat crop in the range of 2.5 per cent to 11 per cent as against 2
per cent Fair Average Quality (FAQ) norm for wheat crop."The
maximum damage content was visible in Jhajjar, Palwal and Rewari
districts of Haryana,"Similarly, the extent of shriveled grains in
samples of crop arrivals because of freak weather conditions was
found to be in the range of 3 to 13 per cent."Shrivelled grain is a big
problem in Haryana as size of grain was affected due to rains and
hailstorm in the state. We have found maximum range of shriveled
gains in majority of districts was 10-11 per cent,"As per FAQ norm
for crop procurement, the permissible limit for shriveled grains is 6
per cent.The inclement weather conditions during the months of
February and March also affected the shining of crop as luster loss in
the crop was found to be in the range of 20-60 per cent.In case of
lustre loss, crop loses its shine and it is to be consumed early as it
become prone to insect attack.The Haryana government had
projected loss in wheat crop over 18 lakh hectares because of
hailstorm.
 A government advisory body on crop pricing has recommended a
modest increase of Rs 50 per quintal in the minimum support price
for paddy farmers.The Commission for Agricultural Costs and Prices
(CACP) a statutory body that advises the government on the pricing
policy for major farm produces has also suggested a hike of Rs 100
per quintal in the support price of ragi to Rs 1,650 and Rs 30 per
quintal for groundnut MSP to Rs 4,030.In its MSP proposals made to
Agriculture Ministry for various kharif (summer-sown) crops for
2015-16, the paddy MSP has been suggested to be increased to Rs
1,410 a quintal.
 Bullish trade can be expected for Turmeric April contract for both short term
and intra day. Markets recovered strongly for Turmeric as demand rose in the
mandis amidst falling arrivals.Firmness in other Spices too sup-ported the
Turmeric rates as North Indian Festive season demand rose. Poor quality stocks
had kept pressure on prices. However, reports of improved Festive season
demand from North India for good quality stocks could ensure moderate
recovery in coming daysAt the spot markets, the buyers are getting interested to
buy new turmeric quoting higher price. This season the total production in the
range of 50-52 lakh bags in the current year, down 20 lakh bags from the last
year in the same period.There are also reports of stockists reportedly holding on
to the stocks in anticipation of a recovery in price. A fall in production from
adverse weather conditions could also keep medium term sentiments firm.
Agriculture Department estimates put turmeric production this year at around
3.7 million bags compared with 5.2 million bags a year ago. Low quality
arrivals had kept pres-sure on prices.With demand from North India and Export
demand expected to rise in coming weeks, the down trend can be limited—as
per market sources. The demand is expected to pick up in coming days—
lending some support to the prices.
 Bullish trend in Jeera may be kept alive by the lower sowing area in Gujarat
and Rajasthan and expected fall in production would likely keep long term
Bullish sentiments intact as exports rise in mandis.Sowing area during current
year likely to go down in Gujarat and Rajasthan due to lower price as compared
to Coriander. Area may shift to Coriander and Fenugreek seed. Cumin output is
expected to fall steeply in Gujarat this year. Output was 3.46 lakh tons in the
state last year but may fall this year as acreage is slashed by 42%.However,
yield is expected to improve after the rainfall that the state received recently.
Still, there is less probability of the output to cross 2 lakh tons.Strong
sentiments prevailed for Jeera last week as crop damage An expected 25-30%
lower sowing area is already keeping prices firm. only 2.64 lakh ha have sown
as compared to 4.54 lakh ha last year. Sowing areaduring current year likely to
go down in Gujarat and Rajasthan due to lower price as compared to Coriander.
Gujarat this year. Output was 3.46 lakh tons in the state last year but may fall
this year as acreage is slashed by 42%.
5
Fundamental Watch : Sugar
SUGAR PRICES AT KEY SPOT MARKETNational Market Update
 With sugarcane arrears to farmers touching Rs 19,243 crore, farmer leaders want
governments to show strong political will to ensure steady payments to farmers by
millers.Ahead of their meeting with Food Minister Ram Vilas Paswan to discuss the
issue on April 15, the leaders say that the Centre should create sugar buffer stocks,
export subsidy on white sugar and provide direct subsidy to farmers rather than sugar
mills.Post the meeting with the farmer leaders from 12 sugar-growing states, Paswan
will meet the chief ministers of sugarcanegrowing states on April 16 to discuss the
issue. Uttar Pradesh topped the list of states with sugarcane arrears, at Rs 9,715.69
crore, followed by Maharashtra at Rs 2,864 crore and Karnataka at Rs 2,402.39
crore."It is no more 'acche din' for sugarcane farmers,". According to him, the only
option that is left with the Centre is to provide direct help to farmers through subsidy
route on sugarcane and creation of sugar buffer stock.A decline in global sugar prices
has hit the UP millers hard and made India's exports uncompetitive, hurting their
ability to clear dues to cane farmers. Mills have been asking the Centre to increase
sugar prices by 10 per cent, create a buffer stock for sugar, provide incentives for the
sale of ethanol, restructure their bank loans, and allow the export of white
sugarExport subsidy and the creation of buffer stock are short-term solutions. India
imported 22.1 thousand tons of sugar last week (ending on 05th Apr, 2015) compared
to 31.6 thousand tons a week before. the country’s sugar export declined by 36%
from 67.6 thousand tons to 43.4 thousand tons during the same interval.
Australian sugar production is expected to decline this year (2014/15) as the
country failed to receive adequate amount of rainfall during the crucial period i.e. Jan
– Mar when the water requirement by the crop is maximum. Notably, the Australian
sugar production was projected last at 4.7 MT a moth back. Sugar prices jumped
Monday, with brokers citing reports that major sugar producers in Brazil would delay
the beginning of their cane harvest by as much as two weeks, potentially giving an
already oversaturated market some breathing room. Sugar futures shrugged off the
bearish outlook and rose more than 1 percent to 12.98 cents a lb.The main center-
south region, which accounts for 90 percent of output, will produce 33.7 million
tonnes of sugar, up 5.4 percent from 2014/15, Conab said in its first estimate of the
new crop.
CENTER 13-Apr-15 11-Apr-15 Change
DELHI 2735 2740 -5
DHAMPUR 2670 2720 -50
MUMBAI 2780 2772 +8
KOLHAPUR 2450 2500 -50
VIJAYWADA 2960 2960 UNCH
NAGPUR NA NA -
KOLKATA 2800 2800 UNCH
Technical Outlook
6
SELL CORIANDER MAY BELOW 9250 TARGET 9225 9185 SL
ABOVE 9275
BUY GUARGUM MAY ABOVE 10580 TARGET 10630 10690 SL
BELOW 10520
SELL TURMERIC MAY BELOW 8580 TARGET 8540 8480 SL
ABOVE 8640
SELL CASTORSEED MAY BELOW 3740 TARGET 3715 3685 SL
ABOVE 3765
Disclaimer
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 Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and
up on sources that we consider reliable. This material is for personal information and based upon it & takes no responsibility.
 The information given herein should be treated as only factor, while making investment decision. The report does not provide
individually tailor-made investment advice. Epic research recommends that investors independently evaluate particular investments
and strategies, and encourages investors to seek the advice of a financial adviser. Epic research shall not be responsible for any
transaction conducted based on the information given in this report, which is in violation of rules and regulations of NSE and BSE.
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Epic research daily agri report 15 april 2015

  • 1. DAILY AGRI COMMODITY REPORT 15 Apr 2015 HNI & NRI Sales Contact Australia 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 Toll Free Number 1-800-200-9454 All queries should be directed to Info@epicresearch.co 1 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 Our Presence YOURMINTVISORY Call us at +91-731-6642300
  • 2. Market Views 2 MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL CORIANDER MAY 9300 9616 9250 9303 -1.07 29180 INTRADAY LEVELS SUPPORT SUPP.1 9163 SUPP. 2 9024 PIVOT 9390 Coriander short term trend is up, further more upside is expected in coming days.RESISTAN CE RES. 1 9529 RES. 2 9756 CASTORSEED MAY 3781 3805 3742 3751 -0.56 58570 INTRADAY LEVELS SUPPORT SUPP. 1 3727 SUPP. 2 3703 PIVOT 3766 Castorseed short term trend is up, Prices expected to go up in coming days.RESISTAN CE RES. 1 3790 RES. 2 3829 TURMERIC MAY 8460 8652 8360 8618 +3.04 17795 INTRADAY LEVELS SUPPORT SUPP. 1 8435 SUPP. 2 8251 PIVOT 8543 Turmeric short term trend is up and may continue in coming days.RESISTAN CE RES. 1 8727 RES. 2 8835 GUARGUM MAY 10010 10400 10100 10400 +4.00 10985 INTRADAY LEVELS SUPPORT SUPP. 1 10200 SUPP. 2 10000 PIVOT 10300 Guargum Short term trend is up, Expecting price may go up in coming days.RESISTAN CE RES. 1 10500 RES. 2 10600
  • 3. Most Active Contract 3 TOP GAINERS SYMBOL EXPIRY DATE CURRENT PRICE CHANGE CHANGE % JEERA 20-04-2015 17560.00 990.00 5.97% TURMERIC 20-04-2015 8398.00 282.00 3.47% CHANA 20-04-2015 3953.00 101.00 1.16% RAPESEED-MUSTARD SEED 20-04-2015 3660.00 87.00 2.43% CASTOR SEED NEW 20-04-2015 3688.00 58.00 1.60% BARLEY 20-04-2015 1160.00 15.00 1.31% SOYABEAN 20-04-2015 3597.00 19.00 0.53% TOP LOSERS SYMBOL EXPIRY DATE CURRENT PRICE CHANGE CHANGE % CORIANDER 20-04-2015 8977.00 -362.00 -3.88% V 797 KAPAS 30-04-2015 815.00 -16.50 -1.98% COTTON SEED OIL CAKE AKOLA 20-04-2015 1708.00 -20.00 -1.16% REFINED SOY OIL 20-04-2015 599.50 -3.35 -0.56% NCDEX INDICES Index Value Pre. Close % Change CASTORSEED 3747 3772 -0.66 CHANA 3912 3867 +1.16 CORIANDER 9091 9122 -0.34 GUARGUM 10100 9790 +3.17 JEERA 17560 16570 `+5.97 MUSTARD SEED 3660 3564 +2.43 SOYABEAN 3597 3561 +1.01 TURMERIC 8398 8192 3.47
  • 4. Commodities In News 4 ECONOMIC NEWS  Untimely rains and hailstorm have caused extensive damage to crops as wheat samples collected in various districts of Haryana have showed damage content, shriveled grains and lustre loss of up to 60 per cent in the crop.In its interim report submitted to Union Food Ministry, Food Corporation of India (FCI) has found damage content in wheat crop in the range of 2.5 per cent to 11 per cent as against 2 per cent Fair Average Quality (FAQ) norm for wheat crop."The maximum damage content was visible in Jhajjar, Palwal and Rewari districts of Haryana,"Similarly, the extent of shriveled grains in samples of crop arrivals because of freak weather conditions was found to be in the range of 3 to 13 per cent."Shrivelled grain is a big problem in Haryana as size of grain was affected due to rains and hailstorm in the state. We have found maximum range of shriveled gains in majority of districts was 10-11 per cent,"As per FAQ norm for crop procurement, the permissible limit for shriveled grains is 6 per cent.The inclement weather conditions during the months of February and March also affected the shining of crop as luster loss in the crop was found to be in the range of 20-60 per cent.In case of lustre loss, crop loses its shine and it is to be consumed early as it become prone to insect attack.The Haryana government had projected loss in wheat crop over 18 lakh hectares because of hailstorm.  A government advisory body on crop pricing has recommended a modest increase of Rs 50 per quintal in the minimum support price for paddy farmers.The Commission for Agricultural Costs and Prices (CACP) a statutory body that advises the government on the pricing policy for major farm produces has also suggested a hike of Rs 100 per quintal in the support price of ragi to Rs 1,650 and Rs 30 per quintal for groundnut MSP to Rs 4,030.In its MSP proposals made to Agriculture Ministry for various kharif (summer-sown) crops for 2015-16, the paddy MSP has been suggested to be increased to Rs 1,410 a quintal.  Bullish trade can be expected for Turmeric April contract for both short term and intra day. Markets recovered strongly for Turmeric as demand rose in the mandis amidst falling arrivals.Firmness in other Spices too sup-ported the Turmeric rates as North Indian Festive season demand rose. Poor quality stocks had kept pressure on prices. However, reports of improved Festive season demand from North India for good quality stocks could ensure moderate recovery in coming daysAt the spot markets, the buyers are getting interested to buy new turmeric quoting higher price. This season the total production in the range of 50-52 lakh bags in the current year, down 20 lakh bags from the last year in the same period.There are also reports of stockists reportedly holding on to the stocks in anticipation of a recovery in price. A fall in production from adverse weather conditions could also keep medium term sentiments firm. Agriculture Department estimates put turmeric production this year at around 3.7 million bags compared with 5.2 million bags a year ago. Low quality arrivals had kept pres-sure on prices.With demand from North India and Export demand expected to rise in coming weeks, the down trend can be limited—as per market sources. The demand is expected to pick up in coming days— lending some support to the prices.  Bullish trend in Jeera may be kept alive by the lower sowing area in Gujarat and Rajasthan and expected fall in production would likely keep long term Bullish sentiments intact as exports rise in mandis.Sowing area during current year likely to go down in Gujarat and Rajasthan due to lower price as compared to Coriander. Area may shift to Coriander and Fenugreek seed. Cumin output is expected to fall steeply in Gujarat this year. Output was 3.46 lakh tons in the state last year but may fall this year as acreage is slashed by 42%.However, yield is expected to improve after the rainfall that the state received recently. Still, there is less probability of the output to cross 2 lakh tons.Strong sentiments prevailed for Jeera last week as crop damage An expected 25-30% lower sowing area is already keeping prices firm. only 2.64 lakh ha have sown as compared to 4.54 lakh ha last year. Sowing areaduring current year likely to go down in Gujarat and Rajasthan due to lower price as compared to Coriander. Gujarat this year. Output was 3.46 lakh tons in the state last year but may fall this year as acreage is slashed by 42%.
  • 5. 5 Fundamental Watch : Sugar SUGAR PRICES AT KEY SPOT MARKETNational Market Update  With sugarcane arrears to farmers touching Rs 19,243 crore, farmer leaders want governments to show strong political will to ensure steady payments to farmers by millers.Ahead of their meeting with Food Minister Ram Vilas Paswan to discuss the issue on April 15, the leaders say that the Centre should create sugar buffer stocks, export subsidy on white sugar and provide direct subsidy to farmers rather than sugar mills.Post the meeting with the farmer leaders from 12 sugar-growing states, Paswan will meet the chief ministers of sugarcanegrowing states on April 16 to discuss the issue. Uttar Pradesh topped the list of states with sugarcane arrears, at Rs 9,715.69 crore, followed by Maharashtra at Rs 2,864 crore and Karnataka at Rs 2,402.39 crore."It is no more 'acche din' for sugarcane farmers,". According to him, the only option that is left with the Centre is to provide direct help to farmers through subsidy route on sugarcane and creation of sugar buffer stock.A decline in global sugar prices has hit the UP millers hard and made India's exports uncompetitive, hurting their ability to clear dues to cane farmers. Mills have been asking the Centre to increase sugar prices by 10 per cent, create a buffer stock for sugar, provide incentives for the sale of ethanol, restructure their bank loans, and allow the export of white sugarExport subsidy and the creation of buffer stock are short-term solutions. India imported 22.1 thousand tons of sugar last week (ending on 05th Apr, 2015) compared to 31.6 thousand tons a week before. the country’s sugar export declined by 36% from 67.6 thousand tons to 43.4 thousand tons during the same interval. Australian sugar production is expected to decline this year (2014/15) as the country failed to receive adequate amount of rainfall during the crucial period i.e. Jan – Mar when the water requirement by the crop is maximum. Notably, the Australian sugar production was projected last at 4.7 MT a moth back. Sugar prices jumped Monday, with brokers citing reports that major sugar producers in Brazil would delay the beginning of their cane harvest by as much as two weeks, potentially giving an already oversaturated market some breathing room. Sugar futures shrugged off the bearish outlook and rose more than 1 percent to 12.98 cents a lb.The main center- south region, which accounts for 90 percent of output, will produce 33.7 million tonnes of sugar, up 5.4 percent from 2014/15, Conab said in its first estimate of the new crop. CENTER 13-Apr-15 11-Apr-15 Change DELHI 2735 2740 -5 DHAMPUR 2670 2720 -50 MUMBAI 2780 2772 +8 KOLHAPUR 2450 2500 -50 VIJAYWADA 2960 2960 UNCH NAGPUR NA NA - KOLKATA 2800 2800 UNCH
  • 6. Technical Outlook 6 SELL CORIANDER MAY BELOW 9250 TARGET 9225 9185 SL ABOVE 9275 BUY GUARGUM MAY ABOVE 10580 TARGET 10630 10690 SL BELOW 10520 SELL TURMERIC MAY BELOW 8580 TARGET 8540 8480 SL ABOVE 8640 SELL CASTORSEED MAY BELOW 3740 TARGET 3715 3685 SL ABOVE 3765
  • 7. Disclaimer  The information and views in this report, our website & all the service we provide are believed to be reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that suits them the most.  Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable. This material is for personal information and based upon it & takes no responsibility.  The information given herein should be treated as only factor, while making investment decision. The report does not provide individually tailor-made investment advice. Epic research recommends that investors independently evaluate particular investments and strategies, and encourages investors to seek the advice of a financial adviser. Epic research shall not be responsible for any transaction conducted based on the information given in this report, which is in violation of rules and regulations of NSE and BSE.  The share price projections shown are not necessarily indicative of future price performance. The information herein, together with all estimates and forecasts, can change without notice. Analyst or any person related to epic research might be holding positions in the stocks recommended. It is understood that anyone who is browsing through the site has done so at his free will and does not read any views expressed as a recommendation for which either the site or its owners or anyone can be held responsible for. Any surfing and reading of the information is the acceptance of this disclaimer. All Rights Reserved.  Investment in equity & bullion market has its own risks.  We, however, do not vouch for the accuracy or the completeness thereof. we are not responsible for any loss incurred whatsoever for any financial profits or loss which may arise from the recommendations above epic research does not purport to be an invitation or an offer to buy or sell any financial instrument. Our Clients (Paid Or Unpaid), Any third party or anyone else have no rights to forward or share our calls or SMS or Report or Any Information Provided by us to/with anyone which is received directly or indirectly by them. If found so then Serious Legal Actions can be taken.