Daily Agri Commodity Trading Market News By Epic Research Pvt. Ltd. - 01 st Sep 2014

AGRI COMMODITY DAILY WRAP UP

CARDAMOM UPDATE

Continuing its rising streak for the third day, cardamom prices added

0.31% to Rs 950.90 per kg in futures trade today as speculators enlarged

positions, supported by rising demand in the spot market. from rising

demand in the spot markets, restricted arrivals from producing regions,

mainly influenced cardamom prices at futures trade.

CORIANDER UPDATE

Coriander prices rose by 0.35 per cent on NCDEX as a result of the lim-

ited stocks on account of restricted arrivals from the major growing

belts. Sentiment improved further as the investors enlarged their hold-

ings tracking the surge in the demand for the commodity. Coriander is

common in South Asian, Middle Eastern, Central Asian, Indian, Latin

American Chinese, and Scandinavian cuisine.

TURMERIC UPDATE

Turmeric prices surged over 1 per cent to Rs 6,570 per quintal in futures

trade today after speculators enlarged positions amidst rising exports de-

mand. At the. Speculators enlarged positions, taking positive cues from

the spot market on rising exports demand mainly led to the rise in tur-

meric prices at futures trade.

CHANA UPDATE

Chana prices fell further by 0.53% in futures trade today as speculators

indulged in reducing holdings on higher output hopes. At the NCDEX

Chana for delivery in September declined by Rs 10, or 0.35% The fall in

Chana futures to increased supplies in the markets on expectations of

higher output at major producing belts.

National Market Report

• Market sentiments traded between firm to normal zone with price trend-

  ing up for the day.

• A meeting for cane area allocation by U.P cane department has been

  scheduled for next month in September. Notably, the meeting will be at-

  tended by representative of mills and cane societies to discuss optimum

  distribution of cane area on the basis of demand.

• Three new variety sugarcane seed Co0403, Co06027, and Co06030 had

been developed by the Sugarcane Breeding Institute (SBI), Coimbatore

to enhance ane productivity in the area. The variety has been tested well

across the nation and is found fruitful in almost all the regions.

International Update

• Sugar prices rebounded as some commentators revived expectations of a

  boost from an early end to the Brazilian cane crushing season. Raw

  sugar futures for October gained 0.6% to 15.68 cents a pound in early

  deals in New York, while clawing their way back over the contract’s 10-

  day moving average.

• Total around 604000 bags of gur stored in cold storages till 25th August

  2014 lower compared to 649000 bags at same period last year.

• London white sugar for October gained 0.5% to $428.50 a tonne.

• Brazilian cane production estimate for center-south region declined 6%

  from 580 million tons to 546 million tons for 2014-15. Fluctuating

  weather condition coupled with lengthening of intra-harvest period

  could be cited responsible for the change in estimation.

DHANIYA

BUY DHANIYA (SEP) BELOW 11975 TGT 12005-12055 SL 11925

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