Daily Agri Commodity Trading Market News By Epic Research Pvt. Ltd. - 02nd Sep 2014

AGRI COMMODITY DAILY WRAP UP

JEERA UPDATE

Jeera prices seen under pressure as demand was weak in the spot market and

buying interest was low. Moreover adequate supplies from producing regions

mainly led to decline in jeera prices. Record output and huge carryover stocks

have also pressurized prices.

GUAR SEED FUTURE

Selling intensified in guar seed futures due to heavy stocks in local mandies along with restricted demand at higher levels. The NCDEX futures declined by 3.99 percent today. The market sources suggested that heavy stocks of around 147 lakh bags have been reported in local mandies . Therefore, stockiest has witnessed some liquidation at higher levels.

ECONOMIC NEWS

Japan is aiming to double its direct investment in India in five

years from last year’s level of USD 2 billion. Japanese Prime

Minister Shinzo Abe is hosting Indian Prime Minister Naren-

dra Modi, who is on his first major international tour since scoring an emphatic victory in the general elections in April- May. The five-day visit of the Indian Prime Minister to Japan is aimed at strengthening economic, business and security ties with Japan and enhancing co-operation between the two countries.

NATION MARKET REPORT

Castor meal FOR is being quoted at Rs 6200 per tonne, moderately lower (Rs

6250 per tonne) than previous week. It is – 0.79 percent lower than last week and 9.96 percent higher than the price realized during August 2014. FOB Quote for Castor oil first grade at Kandla has decreased from $1430 to $1420 per tonne in last two days. However, it is almost 18.18 percent higher than the price realised in August 2013. Castor meal export price for bulk quantity too has decreased slightly from $108 to $107 per tonne. It is higher by 11.46 percent from August, 2013. Market is expected to face short supply of seed in Nov. Out of 15.8 lakh tonne seed available for crushing almost 9.2 lakh tonne seed has been crushed so far. Around 3 lakh tonne seed is available with big players who would prefer releasing seed in parts or may retain it for three –four months from now. Govt has released fourth adv. Estimate of food grains for 2013-14 on 14, August, 2014. The govt. has estimated 16.89 lakh tonne production this year against the target of 15.81 lakh tonne. Govt. Production target for 2014-15 has been set at 16.65 lakh tonne.

INTERNATION MARKET REPORT

• 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 $108per tonne today.

• Price of castor oil in Rotterdam too has increased from $1725to$1729per metric tonne during last one week. Buyers like EU, USA and China remain sidelined

DHANIYA

SELL DHANIYA (SEP) BELOW 11750 TGT 11720-11670 SL 11800

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