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Weekly agri commodity report by epic research of 21 november 2016
1. WEEKLY AGRI COMMODITY REPORT
21NOVEMBER 2016
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2. Weekly Wrap Up
2
MONT
H
OPEN HIGH LOW
CLOS
E
% CHG VOL
MONT
H
OPEN HIGH LOW
CLOS
E
% CHG VOL
CORIANDER
DEC 7252 7800 7220 7605 3.53 5680
INTRADAY
LEVELS
SUPPORT
SUPP.
1
7283
SUPP. 2
6962
PIVOT
7542
Coriander short term
trend is bearish and may
continue in coming days.
RESISTA
NCE
RES.
1
7863
RES. 2
8122
CASTORSEED
- - - - - - -
INTRADA
Y LEVELS
SUPPORT
SUPP.
1
-
SUPP. 2
-
PIVOT
-
-
RESISTA
NCE
RES. 1
-
RES. 2
-
TURMERIC
DEC 7300 7700 7300 7600 3.00 1290
INTRADA
Y LEVELS
SUPPORT
SUPP.
1
7367
SUPP.
2
7133
PIVOT
7533
Turmeric short term
trend is bearish and may
continue in coming days.
RESISTA
NCE
RES. 1
7767
RES. 2
7933
GUARGUM
NOV 5758 6239 5655 6135 3.77 5680
INTRADA
Y LEVELS
SUPPORT
SUPP.
1
5780
SUPP.
2
5426
PIVOT
6010
Guargum Short term
trend is bearish and
may continue in coming
days.RESISTA
NCE
RES. 1
6364
RES. 2
6594
4. Commodities In News
4
ECONOMIC NEWS
The water storage available in 91 major reservoirs of the country for the
week ending on November 17, 2016 was 107.449 BCM, which is 68% of
total storage capacity of these reservoirs. This was 127% of the storage of
corresponding period of last year and 98% of storage of average of last ten
years. The total storage capacity of these 91 reservoirs is 157.799 BCM
which is about 62% of the total storage capacity of 253.388 BCM which is
estimated to have been created in the country. 37 Reservoirs out of these
91 have hydropower benefit with installed capacity of more than 60 MW.
The northern region includes States of Himachal Pradesh, Punjab and
Rajasthan. There are six reservoirs under Central Water Commission
(CWC) monitoring having total live storage capacity of 18.01 BCM. The
total live storage available in these reservoirs is 11.22 BCM which is 62%
of total live storage capacity of these reservoirs. The storage during
corresponding period of last year was 72% and average storage of last ten
years during corresponding period was 72% of live storage capacity of
these reservoirs.
The government is looking to achieve its buffer stock target of 2 million
tonnes of pulses by June next year, which will be used in case of price rise,
a top Consumer Affairs Ministry official said today . "We have purchased
about 6 lakh tonnes of pulses so far. We will be able to complete the entire
2 million tonnes by June 2017," Consumer Affairs Secretary Hem Pande
told reporters on the sidelines of FICCI conference on food service
industry. "Pulses production is estimated to increase to more than 20
million tonnes in 2016-17. So, we will be able to procure one million
tonne of pulses from domestic market for buffer stock and rest one million
tonnes will be imported," he said. Asked about imports, he said the
country has imported about 3.5 million tonnes so far this fiscal, of which
0.4 million tonne is by public sector trading agencies. "We will ensure
domestic availability of 24-25 million tonnes of pulses," he added. On total
imports this fiscal, Pande said: "We expect significant rise in production.
This may lead to reduction in imports."
Coriander futures showed a bearish trend on NCDEX as speculators
offloaded positions on weak demand. Besides, thin trading activities at spot
market amid lack of availability of smaller denomination notes, also weigh
on sentiment. The contract for December delivery was trading at Rs
7589, down by 1.22% or Rs 94 from its previous closing of Rs 7683. The
open interest of the contract stood at 6940 lots. The contract for January
delivery was trading at Rs 7600, down by 0.51% or Rs 39 from its previous
closing of Rs 7639. The open interest of the contract stood at 510 lots on
NCDEX.
Turmeric futures exhibited a positive trend on NCDEX as participants
enlarged their positions, on less stocks and restricted supplies in the spot
market. Liquidity crunch continued to take a toll on the trades at the
Agricultural Produce Market Committees (APMCs) across the country as
farmers, by and large, refrained from bringing their crops to the markets. In
some markets like in Erode in Tamil Nadu, traders were unable to deal with
the currency shortage and decided to declare holiday for a week and re-open
on November 21, 2016. The contract for November delivery was trading at
Rs 7680, up by 0.97% or Rs 74 from its previous closing of Rs 7606. The
open interest of the contract stood at 710 lots. The contract for December
delivery was trading at Rs 7028, up by 0.4% or Rs 28 from its previous
closing of Rs 7000. The open interest of the contract stood at 8315 lots on
NCDEX.
Soyabean futures traded higher on NCDEX as participants enlarged
positions amid a firming trend in sport markets. Some support also came
with improved export demand for soyabean and soymeal. Soybean meal
exports rose over 55% in October from a month ago due to a drop in its
price and a pickup in demand from the traditional Southeast Asian market.
The contract for November delivery was trading at Rs 3023, up by 1.31% or
Rs 39 from its previous closing of Rs 2984.The open interest of the contract
stood at 5080 lots. The contract for December delivery was trading at Rs
3069, up by 1.02% or Rs 31 from its previous closing of Rs 3038. The open
interest of the contract stood at 137290 lots on NCDEX.
5. 5
NEWS RECAP
COMMODITY HEADLINES
Farm Loan Outstanding At Near 10% Of GDP
Coriander Extends Losses On Poor Physical Demand
Water Level of 91 Major Reservoirs of the Country Down 2 percent
Water Storage In Major Reservoirs Up 27% On Year'
Despite increase in state advised price, up sugar mills may retain profitability: ICRA
Agricultural loan outstanding at Rs 12.6 lakh crore as of September 2016
Government to buy 2 million tonne pulses for buffer stock by next June
Uttar Pradesh hikes sugarcane floor price ahead of crucial vote
Demonetisation: Farmers can withdraw Rs 25,000
High coffee prices fail to add aroma to Chicory demand
Fowl is fair for poultry firms on better economy, lower feed cost
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