Press release
Epic Research Daily Agri Commodity Report Of 05 JULY 2017
Commodity NewsTurmeric futures traded higher on NCDEX on account of uptick in
domestic as well export demand in the spot market. Further,
anticipation of lower acreage during the current season in producing
regions also added support to turmeric prices’ uptrend. The contract for
July delivery was trading at Rs 6428.00, up by 0.25% or Rs 16.00 from
its previous closing of Rs 6412.00. The open interest of the contract
stood at 11355 lots. The contract for August delivery was trading at Rs
6496.00, up by 0.25% or Rs 16.00 from its previous closing of Rs
6480.00. The open interest of the contract stood at 4870 lots on
NCDEX.
Jeera futures traded lower on NCDEX amid lower domestic and
exports demand at the spot market. Furthermore, ample stocks position
following higher supplies from the producing belts too fuelled the
downtrend. The contract for July delivery was trading at Rs 18410.00,
down by 2.00% or Rs 375.00 from its previous closing of Rs 18785.00.
The open interest of the contract stood at 5904 lots. The contract for
August delivery was trading at Rs 18440.00, down by 2.30% or Rs
435.00 from its previous closing of Rs 18875.00. The open interest of
the contract stood at 8877 lots on NCDEX.
Coriander futures traded lower on NCDEX as speculators offloaded
their holdings on the back of weak demand in the spot market. Besides,
adequate stocks position on increased supplies from major producing
regions also weighed on coriander futures. The contract for July
delivery was trading at Rs 4791.00, down by 2.34% or Rs 115.00 from
its previous closing of Rs 4906.00. The open interest of the contract
stood at 21150 lots. The contract for August delivery was trading at Rs
4906.00, down by 1.94% or Rs 97.00 from its previous closing of Rs
5003.00. The open interest of the contract stood at 27170 lots on
NCDEX.
Economic News
Agricultural and Processed Foods Export Development Agency
(APEDA) has refuted rumours aboutplastic rice, attributing the videos
onsocial media showing bouncing rice balls to a natural property of rice.
India is a major exporter of rice and the country's basmati rice exports
stood at Rs 21,604.5 crore in 2016-17, according to data with the
APEDA. "Information is being circulated on social media and in the media,
giving an impression that plastic rice is being supplied from India both in
international and domestic markets. In some of the videos, rice balls are
being shown bouncing on the tables. These videos and press reports are
misleading since several types of rice have such natural property," APEDA
stated. "Rice starch consists of two main components -- amylose and
amylopectine -- generally in a proportion of 25:75. However, there exists a
lot of variation in germ plasm with respect to proportion of amylose and
amylopectine.
In the wake of supply crunch, prices of vegetables such as tomato, peas
and beans have surged sharply over the last one week in Haryana, Punjab
and Chandigarh. Retail prices of tomato have more than doubled from Rs
30 per kg to Rs 65-70 per kg while that of peas have risen sharply from
nearly Rs 70-80 per kg to Rs 110-120 per kg, traders said today. Traders
said tomato prices have soared due to short supply. The supply of tomato
has reduced drastically from states like Himachal Pradesh, Maharashtra,
Uttar Pradesh and Haryana after monsoon rains. Retail prices of other
vegetables including beans, round gourd, cucumbers have also increased.
Potato prices for 'pahari' variety have risen to Rs 30 per kg from Rs 20 per
kg. Bitter gourd was selling in the range of Rs 30-50 per kg, carrot prices
have gone up from Rs 40 per kg to Rs 50-Rs 60 per kg while cucumber
prices have risen from Rs 20-25 per kg to present Rs 40 per kg. Retail
prices of other vegetables including beans, round gourd, cucumbers have
also increased. While price of beans has jumped from Rs 50 per kg to Rs
60-70 per kg, cauliflower was selling at around Rs 60--70 per kg from Rs
50 per kg earlier.
Trading Recommendations
SELL CORIANDER APR BELOW 4730 TARGET 4700 4660 4610
SL ABOVE 4820
BUY TURMERIC MAY ABOVE 6480 TARGET 6510 6540 6590
SL BELOW 6430
SELL GUARGUM5 MAY ABOVE 6610 TARGET 6580 6540
6490 SL BELOW 6660
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