Daily Agri Commodity Trading Market News By Epic Research Pvt. Ltd. - 28th August 2014

AGRI COMMODITY DAILY WRAP UP

National Market Report

• The Govt had raised sugar import duty from 15% to 25% on both raw as

  well as refined sugar. The move was taken to relieve the ailing sugar in-

  dustry which was struggling hard to match up with the higher cane

  prices and lower market price for their product. Meanwhile, it is also ex-

  pected to resolve the problem of accumulated cane arrears in the country

  which stands at about Rs 6800 crores

• Gur prices witness artificial firmness at present and likely move down in

  the coming days due to good stock availability in the Maharashtra mar-

kets. It is notable that cane has diverted more towards gur production in

Pune and Sangli area this year. In addition to it, market participants is

expecting early arrivals of gur for the next marketing year which drive

the prices southwards in the medium term .

International Update

• 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.

• ISO estimated a global surplus in sugar market with production (183.8

  million tons) outpacing consumption (182.4 million tons) by 1.3 million

  tons for 2014-15.

• With a 29% surge in import, Indonesia is likely to emerge as the top raw

  sugar importer in the world by 2015. Moreover, import shipment of 3.6

  million metric tons of sugar to the country is expected in 2015 as com-

  pared to 2.8 million tons this year.

ECONOMIC NEWS

• The commodity derivatives market regulator (FMC), has proposed uniform criteria for all warehouse service providers in a draft set of guidelines. It has invited feedback till September 15. It has come to know that there is no uniformity in norms among nationwide multi commodity exchanges for accreditation of WSP The Commission

  has been discussing this issue with the exchanges and other stake holders, so that warehouses conform to certain minimum uniform standards. FMC has suggested a credible WSP promoter or promoter group can get exchange accreditation only after completion of three

  years in this business. Plus, minimum net worth of Rs 5Cr.for a single commodity and Rs 10Cr. for multiple commodities to be eligible .

• Pomegranate prices have dropped to almost half of the previous year’s levels in Maharashtra, the top producer and exporter of the fruit that is an excellent source of dietary fiber and vitamins.Higher supplies, a decline in exports and inferior quality because of an erratic climate have led to the price drop, say growers. Pomegranate acreage has increased substantially in Maharashtra as the fruit commanded premium prices in domestic as well as export markets.

DHANIYA

SELL DHANIYA (SEP) BELOW 11780 TGT 11750-11700 SL 11820

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