Daily Agri Commodity Trading Market News By Epic Research Pvt. Ltd. - 20th August 2014

AGRI COMMODITY DAILY WRAP UP

CHANA UPDATE

Chana prices closed higher 0.91 per cent on Monday at the National Commodity & De- rivatives Exchange Limited (NCDEX) as the traders enlarged their holdings in the com- modity on account of the good demand in the market. At the NCDEX, Chana futures for August 2014 contract closed at Rs. 2,892 per quintal, up by 0.91 per cent, after opening at Rs. 2,874 against the previous closing price of Rs. 2,866. It touched the intra-day high of Rs. 2,892.Moreover, the restricted arrivals of the commodity in the physical market due to lower estimated output also influenced the Chana prices. India is the largest pro- ducer of chickpea followed by Pakistan, Turkey and Iran. India produces around 6 to 8 million tones and contributes around 70 per cent of the total world production.

CARDAMOM UPDATE

Cardamom futures for September 2014 contract were trading at Rs 958.10 per kg, up by 0.25 per cent, after opening at Rs. 956 against the previous closing price of Rs. 955.70. It touched the intra-day high of Rs. 961 till the trading. (At 10.30 AM today).Sentiment improved further as a result of firm demand in the market against restricted arrivals from producing belts of Chandausi in Uttar Pradesh. Kerala (70 per cent), Karnataka (20 per cent) and Tamil Nadu (10 per cent) are the cardamom growing states in India while about 90 per cent of the produce is consumed within the nation. The important markets for cardamom in India are Vandanmendu, Bodinayakanur, Kumily, Thekkady, Kumbum and Pattiveeran Patti in Kerala.

CORIANDER UPDATE

Coriander prices rose by 0.97 per cent on Tuesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the limited stocks on account of restricted arrivals from the major growing belts. At the NCDEX, coriander futures for August 2014 contract was trading at Rs. 11,548 per quintal, up by 0.97 per cent after opening at Rs. 11,499 against the previous closing price of Rs. 11,437. It touched the intra-day high of Rs. 11,548 till the trading. (At 11.20 AM today). Sentiment improved further as the investors enlarged their holdings tracking the surge in the demand for the com- modity. Coriander is common in South Asian, Middle Eastern, Central Asian, Mediterra- nean, Indian, Tex-Mex, Latin American, Portuguese, Chinese, African, and Scandina- vian cuisine.

NATIONAL MARKET REPORT

Castor seed market continued to reel under pressure due to higher coverage area, lower demand and sluggish trading activities. Market remained closed due to continuous holidays last week and it’s impact remains visible in cash and futures market .Short term outlook remains bearish and nearby futures contact may test 4100 soon. However, buy- ers may start buying at lower level and it would be supportive for the market August onward. higher than last year (4.89 lakh ha.) till date. Normal area for whole kharif season is 10.37 lakh ha. Area under castor seed is likely to increase at least by 9 to 10 percent

INTERNATIONAL UPDATE

FoB quote for castor oil at Kandla has increased from $1430 to $1440 for

export in last three days. Price has increased almost $10 per tonne today despite lower quotes for seed. Buyers like China,EU and Japan may enter in to the market in second half of August for bulk buying. Demand for castor meal continues from EU, USA and China. However, recent dip has slowed down fresh deal for the same. As buyers remain inactive FOB price is bound to stay steady in the third week of August. Export quote for meal increased slightly by $2 to $108 per tonne today. Price of castor oil in Rotterdam too has decreased from $1755to $1705

DHANIYA

SELL BELOW 11685 TGT 11655 -11605 SL 11732

BUY ABOVE 11820 TGT 11850-11900 SL 11770

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