DAILY AGRI COMMODITY REPORT

05 May 2016

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Market Views

2

MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL

TURMERIC

MAY 8306 8350 8158 8180 -1.56 13745

INTRADAY

LEVELS

SUPPORT SUPP. 1

8195

SUPP. 2

8081

PIVOT

8273

Turmeric short term

trend is bearish and

May continue in

coming days.RESISTAN

CE

RES. 1

8387

RES. 2

8465

CORIANDER

MAY 7040 7076 6918 6990 -0.24 4660

INTRADAY

LEVELS

SUPPORT SUPP.1

6925

SUPP. 2

6842

PIVOT

7000

Coriander short term

trend is bearish and May

continue in coming

days.RESISTAN

CE

RES. 1

7083

RES. 2

7158

GUARGUM

MAY 5700 5720 5590 5680 -0.87 15668

INTRADAY

LEVELS

SUPPORT SUPP. 1

5607

SUPP. 2

5533

PIVOT

5663

Guargum short term

trend is bearish and

May continue in

coming days.RESISTAN

CE

RES. 1

5737

RES. 2

5793

CASTORSEED

- - - - - - -

INTRADAY

LEVELS

SUPPORT SUPP. 1

-

SUPP. 2

-

PIVOT

--

RESISTAN

CE

RES. 1

-

RES. 2

-

Most Active Contract

3

NCDEX INDICES

Index ValuePre.

Close

%

Change

CASTORSEED - - -

CHANA 5445 5414 +0.57

CORIANDER 6962 6980 -0.26

GUARGUM 5680 5730 -0.87

JEERA 16975 16745 +1.37

MUSTARD

SEED4373 4285 +2.05

SOYABEAN 4081 4059 +0.54

TURMERIC 8350 8280 +0.85

TOP LOSERS

SYMBOL EXPIRY DATECURRENT

PRICECHANGE

CHANGE

%

BARLEY 20-05-2016 1528.00 -5.00 -0.33%

CORIANDER 20-05-2016 6962.00 -16.00 -0.23%

TOP GAINERS

SYMBOL EXPIRY DATECURRENT

PRICECHANGE CHANGE %

RAPESEED –

MUSTERSEED20-05-2016 4373.00 91.00 2.13%

JEERA 20-05-2016 16975.00 265.00 1.59%

REF SOYA OIL 20-05-2016 644.40 8.95 1.41%

CHANA 20-05-2016 5445.00 54.00 1.00%

Commodities In News

4

ECONOMIC NEWS

India, the world's biggest sugar consumer, is likely to start the 2016-17

marketing year on October 1 with 7 million tonnes in carry-forward stocks,

down 21.3 per cent from a year ago, Food Minister Ram Vilas Paswan said

on Wednesday. The production in the current year ending September 30 is

likely to drop following two drought years in a row. The centre has asked

state governments to impose stock limits on sugar to avoid hoarding by

traders. India is likely to become a net importer of sugar in 2016-17 as

back-to-back drought years and dry irrigation channels ravage cane fields,

with output in Uttar Pradesh, biggest sugarcane producing state seen

dropping by more than 40 per cent.

An expected slowdown in Indian sugar exports as domestic prices surge,

will boost the market share of Thai and Brazilian sugar in Asian markets,

traders said on Tuesday. India will soon scrap an order that requires sugar

mills to export excess supply, two government officials said on Monday,

after back-to-back droughts look set to turn the country into a net importer

next season and open the door to rival suppliers. Traders said the news

came as little surprise as many had expected that India, the world's number

2 sugar producer after Brazil, would swing next season to a net importer

from exporter after drought ravaged production. India, also the world's top

sugar consumer, has been a major source of low quality white sugar

shipped to Myanmar, much of which was then smuggled into China,

traders said. Over the past several weeks, flows of white sugar to China

have slowed after brisk trade into the country in the fourth quarter of last

year, they added. "With India now marginalised, and if Chinese demand

does pick up again, the sugar (for China) will come from Thailand and

other sources," a senior European physical trader said. Indian mills are

now prioritising sales to the local market to benefit from higher domestic

prices as supplies tightened.

Chana prices were down by 0.83 per cent to Rs 5,485 per quintal in

futures trade today as participants cut down their positions, triggered by

ample stocks at spot market on improved supplies after the government

measures to check rising prices.

At the National Commodity and Derivatives Exchange, chana for

delivery in far-month June fell by Rs 46, or 0.83 per cent, to Rs 5,485

per quintal, with an open interest of 17,940 lots.

Likewise, the commodity for delivery in May traded lower by Rs 17, or

0.31 per cent, to Rs 5,397 per quintal in 3,850 lots.

Analysts attributed the fall in chana futures to sufficient stocks in the

physical market on increased supplies from producing regions after the

government announced measures to check rising prices.

Meanwhile, expressing concern over the rise in prices of pulses, traders'

body CAIT said the government should impose stock limit on first

importers and allow only domestic process houses to import foodgrain

and pulses.

Coriander prices declined by 2.07 per cent to Rs 7,004 per quintal in

futures market today as speculators trimmed their positions, tracking a

weak trend at spot market on sluggish demand.

Besides, ample stock position on increased supplies from major

producing belts put pressure on coriander prices.

At the National Commodity and Derivatives Exchange, coriander

prices for delivery in May month drifted lower by Rs 148, or 2.07 per

cent to Rs 7,004 per quintal with an open interest of 17040 lots.

Likewise, the spice for delivery in far-month June contracts traded

lower by Rs 126, or 1.76 per cent to Rs 7,050 per quintal in 16,490 lots.

Anlysts said the fall in coriander fututres was due to easing

demand in the spot market against adequate stocks position.

EU sugar production will jump by 17% to 17.4 million tonnes (MTs)

in 2016-17, in the run up to the scrapping of the quota system, US

Department of Agriculture's Brussel's bureau estimated in a latest

update.

5

Fundamental Watch : Castor Seed

CASTOR SEED PRICES AT KEY SPOT

MARKET National Market Update

Castor cash markets could not sustain its firm momentum as buyers expect

market to stabilize around Rs3150/3200 per qtl. Arrival has decreased from

last two days.In lack of fundamental clue any unexpected gain is unlikely.

There is a gossip in the market that good rainfall this year may boost yield

despite expected decline in area this year.It would be better to wait for

monsoon that would decide area/yield for this year crop. All India average

price for castor seed decreased by 7.20 % from Rs 3558.35 to Rs 3301.88 per

qtl during the week ended on 30th April-2016. However, it is higher by 9.44%

from the price registered during the second week of April. When we compare

average price of seed from April-2015, it rules lower by 5.35 % from current

average price (Rs3301.88 per qtl.). Decrease in demand for seed at higher

level restricted firm tone during the week under review. However, more dip is

unlikely as pace for seed arrivals in markets has declined.

India exported 16542.23 MT castor oil during week ended 24th April-2016

at an average price of $1095.69 per MT. It is lower by 43.05% from previous

week. However, price realization has increased by 2.59% from last week. The

maximum and minimum prices were registered at $1746.66 and 908.36 per

MT. Castor oil export would continue to stay steady as prices are lower than

normal expectation and availability is higher. Major importers like China

followed by USA and Netherlands are stocking oil taking advantage of lower

price. In Patan market, castor seed prices are likely to trade down in near

term. Stock of castor seed is likely to increase by 20,000 bags compared to

corresponding period of last year. Last year castor seed stock was around 4

lakh bags.In Deesa market, prices are likely to trade firm in the near term.

Stock of castor seed could be around 2-3 lakh bags, same compared to

corresponding period of last year.

CENTER 3-MAY-15 2-MAY-15 Change

PATAN 13500 22500 -9000

RAJKOT 500 450 50

GONDAL 683 434 249

DEESA 2700 2590 110

MEHSANA 750 1500 -750

KADI 4240 3776 464

GANDHI

NAGAR1275 1350 -75

Technical Outlook

6

SELL CORIANDER JUN BELOW 6910 TARGET 6865 6765 SL

ABOVE 6975

SELL GUARGUM JUN BELOW 5570 TARGET 5520 5450 SL

ABOVE 5630

SELL TURMERIC JUN BELOW 8138 TARGET 8094 8034 SL

ABOVE 8198

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