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Epic Research Daily Agri Commodity Report Of 12 JANUARY 2017
Soybean futures traded higher on NCDEX due to increasing demand from the bulk buyers and oil millers at the spot market. Though, some gains were capped on higher production estimates by SOPA this season. The contract for January delivery was trading at Rs 2982.00, up by 0.03% or Rs 1.00 from its previous closing of Rs 2981.00.
Turmeric futures traded higher on NCDEX on anticipation of rising physical demand at the spot market. Though, commencement of new crop supplies in the markets of Erode, Nizamabad and Duggirala, capped some gains.
Coriander futures traded higher on NCDEX as speculators enlarged their positions, driven by improved demand in the domestic spot market. Further, restricted arrivals from major producing regions also added support to coriander prices’ uptrend. The contract for January delivery was trading at Rs 7325.00, up by 0.44% or Rs 32.00 from its
previous closing of Rs 7293.00.
Jeera futures traded lower on NCDEX on reports of good climatic conditions and hopes of higher yield in the season crop due to higher acreage at the producing belts. Though, rising physical as well as export demand at the spot market, capped some losses. The contract for January delivery was trading at Rs 18265, down by 0.44% or Rs 80.00
from its previous closing of Rs 18345.
India’s export of oil meals more than doubled in December 2016 mainly driven by high demand of non-genetically modified (GMO) soybean meal from France, said Solvent Extractors’ Association of India. The country exported 1,94,309 tons in December 2016, an increase of 130% from 84,218 tons reported same period last year. France imported 1,06,708 tons of oilmeals as compared to 1,956 tons last year, consisting of 1,03,650 tons of soybean meal and 3,058 tons of castor meal. Japan too recorded a significant jump in imports at 54,833 tons as compared to 6,500 tons last year, consisting of 50,632 tons of soybean meal, 3,773 tons of rapeseed meal and 428 tons of castor meal.
Announcement of Rubber Policy and restrictions on imports are among the key points in the recommendations of parliamentary committee on rubber that the Indian Rubber Growers Association (IRGA) has called for implementation. In a representation to parliamentary standing committee, it said that the import of NR should be suspended during the peak season of August to March. Further, restrictions should be imposed on import of used and inferior quality tyres, it said. While entering FTA with other countries,
the interest of the growers and MSME sector should be safeguarded as except India all other rubber growing consume less that 10 per cent of their domestic production.
BUY CORIANDER APRABOVE 7416 TARGET 7431 7461 7512 SL BELOW 7370
SELL TURMERIC 20APR BELOW 6576 TARGET 6561 6531 6471 SL ABOVE 6620
SELL GUARGUM5 FEBBELOW 6234 TARGET 6219 6189 6129 SL ABOVE 6264
BUY CASTORSEED FEB ABOVE 4215 TARGET 4230 4260 4320 SL BELOW 4270
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News Release: Epic Research Daily Agri Commodity Report Of 12 JANUARY 2017
Submitted on: January 12, 2017 04:53:45 AM
Submitted by: EpicResearch
On behalf of: epicresearch.co