Daily Agri Commodity Trading Market News By Epic Research Pvt. Ltd. - 04th Sep 2014

AGRI COMMODITY DAILY WRAP UP

JEERA NEWS

Jeera September futures traded down on India’s NCDEX on Wednesday. Sluggish demand from overseas buyers coupled with comfortable supplies may keep prices under check. However, lower level demand may support prices at lower levels. Jeera plunged 0.46% down to settle at Rs 10860.Geo-political tensions in Syria and Turkey have led to a supply crunch in the global markets raising supply concerns from the two major exporting countries.

SUGAR NEWS

With lesser inventory and cost cuts, sugar companies were able to curtail losses in the June. According to Indian Sugar Mills’ Association total inventory declined to 13.2 million tonnes as on end-June as compared to 14.6 mt at the same time last year and down from nearly 17 mt as of April 1 (compared to 18.6 mt on the same date last year).Sugar for delivery in September on the National Commodity & Derivatives Exchange declined 4.3 per cent in the quarter, to close at Rs 3,216 a quintal from Rs 3,360 a qtl at the beginning .

CORIANDER FUTURE

Coriander prices closed at 0.08 per cent at the NCDEX as the adequate stocks availability in the physical market put pressure on coriander prices. At the NCDEX, coriander futures for September 2014 contract were trading at Rs. 11,630 per quintal, down by 0.49 per cent, after opening at Rs. 11,688 against the previous closing price of Rs. 11,687.It touched the intra-day low of Rs. 11,584 till the trading. Sentiment weakened further as speculators reduced their positions on the back of sluggish demand in the market.

NATION MARKET REPORT

• Pulses market noticed weak tone For the country as a whole, cumulative rainfall during this year’s monsoon has so far up to September 2, 2014 has been 16% below the Long Period Average (LPA). The actual rainfall recorded at 613.4 mm against the 727.6 mm of normal rainfall-IMD.

• According to Ministry of Agriculture, around 95.40 lakh hectare of area has been sown under pulses (Kharif) this year as on August 29, around 5.20% lower than the previous year, when it was 100.64 lakh hectares during the same period. According to the Andhra Pradesh State Agriculture Dept., following is the kharif pulses 2014-15 sowing progress as on August 27,2014.

• Chana remained weak for the second day and prices fell further by 0.42 per cent to Rs 2,865 per quintal in futures trading today as speculators offloaded their positions amidst increased supplies from producing regions in the spot markets. At the National Commodity and Derivative Exchange, Chana prices for delivery in October were down by Rs 12, or 0.42 per cent, to Rs 2,865 per quintal with an

INTERNATION MARKET REPORT

• Canadian field pea witness slow harvest progress. Harvesting is mainly lagging in Saskatchewan province, while well ahead in Alberta region. Saskatchewan Agriculture estimates higher production of all special crops and pulses ,around 6.809 million metric tonne (MMT), up 7% from Statistics Canada’s 6.38 million MT estimate .

• According to the China’s Pulses Import and Export Industry, China’s import of Canadian field pea is expected to surge in next two years and potentially exceed- ing India, the leading importer of Canadian field pea by 2016

DHANIYA

BUY DHANIYA (OCT) ABOVE 12230 TGT 12260-12310 SL 12180

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