24-Nov-14 Item Open High 35490 35500 Low Close % Cng OI 34945 -1.34 41 Comments Spices Pepper Turmeric 34420 Agro Market 6296 6340 6270 6318 0.38 Jeera 12325 12445 12235 12290 -0.36 6927 Coriander 13274 13345 13090 13183 -0.86 28940 Cardamom 8440 869 870.5 859 861.7 -0.61 1096 Sugar m 2757 2757 2745 2751 -0.22 11660 Wheat 1646 1659 1642 1647 0.06 5400 Maize 1187 1193 1162 1174 -1.43 9360 Barley 1652 1669 1652 1661 0.06 3670 Chana 3124 3204 3123 3193 2.24 78720 Kapas 802 810.5 798.5 808 0.69 12764 Gur 978.5 982.5 973.5 976 -0.56 3060 Cotton 16040 16190 16040 16150 0.62 1134 Mentha Oil 694.3 697.1 685.5 688.7 -1.30 6246 Soya Bean 3300 3338 3196 3332 1.25 121480 Ref.soya oil 587 593.8 586.3 590.9 0.52 85790 Cpo 451 453 448.4 451 0.31 1247 Rmseed 3831 3857 3825 3851 0.50 23280 Castorseed 4823 4857 4813 4827 -0.02 296090 Cereals Most of the spices counter on the NCDEX yesterday ended with losses. Dhaniya prices ended with more than one percent losses followed by around quarter gains in jeera prices whereas turmeric prices ended with around half percent gains. Turmeric prices ended with gains as support seen taking positive cues from the spot market on rising exports demand. Jeera settled down due to profit booking driven by weak demand in the spot market. Others DAILY MARKET LEVEL COMMODITIES CARDAMOM WHEAT MENTHA OIL CHANA TURMERIC JEERA SOYABEAN R.SOYA OIL CLOSE 861.7 1647 688.7 3193 6318 12290 3332 590.9 879.9 1673 706.9 3304 6420 12625 3524 602.0 875.2 1666 702.0 3254 6380 12535 3431 598.0 868.4 1656 695.3 3223 6350 12415 3382 594.0 863.7 1649 690.4 3173 6310 12325 3289 590.0 856.9 1639 683.7 3142 6280 12205 3240 586.0 852.2 1632 678.8 3092 6240 12115 3147 582.0 845.4 1622 672.1 3061 6210 11995 3098 578.0 OI 1096 5400 6246 78720 8440 6927 121480 85790 OI (%) -3.01 14.65 -8.94 5.40 -0.53 1.54 -0.33 -2.91 RESISTANCE P. POINT SUPPORT SPOT MARKETS UPDATE CORIANDER SUGAR SOYABEAN CHANA TURMERIC JEERA R.SOYA OIL WHEAT RM SEED COTTON 13183 2751 3332 3193 6318 12290 590.9 1647 3851 16150 -0.86 -0.22 1.25 2.24 0.38 -0.36 0.52 0.06 0.50 0.62 SOYABEAN OPEN HIGH LOW CLOSE % CNG RE CNG OI VOLUME 3300 3338 3196 3332 1.25 41.00 121480 90340 MARKET MOVER Soyabean trading range for the day is 3147-3431. Soyabean prices seen supported on improved demand for the bean for cattle feed in global market following robust export data However, improved International production forecasts, capped some gains in soyabean prices to some extent. NCDEX accredited warehouses soyabean stocks gained by 2447 tonnes to 10600 tonnes. At the Indore spot market in top producer MP, soybean gained 31 rupee to 3258 rupee per 100 kgs. BUY SOYABEAN DEC @ 3300 SL 3270 TGT 3340-3380.NCDEX MARKET COMMENTARY Soyabean settled up 1.25% at 3332 supported by improved demand for the bean for cattle feed in global market following robust export data from the US. However, improved International production forecasts, capped some gains in soyabean prices to some extent. Improved International production forecasts had been keeping sentiments weak there. Traders expect downtrend to be limited however as domestic demand is expected to improve in coming weeks for the good quality produce. In US, the biggest exporter of the bean, soybean export sales fell by 55% to 483,000 tons in the week ended Nov 13 compared to 68% in the previous weak, it lowest since Sep 1, government data showed. Data showed that US soybean harvest was 94% completed in the week ended on Nov 16 compared to 90% in the previous week and production is expected to reach a record 3.958 billion bushels. US farmers are expected to plant a record 88.3 million soybean acres in 2015, up 4.1 million from this year, said Informa Economics in its report. The crop size this year is likely to expand by 5-10 per cent compared with last year. Soyabean was planted on 12.17 million hectares last year and the output, according to Government estimates, was 11.98 million tonnes. In the current season, soyabean has been planted on about 10.96 million hectares. SOPA is currently in the process of estimating the current crop size and is likely to come out with the number in about a week’s time. Technically market is under short covering as market has witnessed drop in open interest by -0.33% to settled at 121480 while prices up 41 rupee, now Soyabean is getting support at 3239 and below same could see a test of 3147 level, And resistance is now likely to be seen at 3381, a move above could see prices testing 3431. RM Seed OPEN HIGH LOW CLOSE % CNG RE CNG OI VOLUME 3831 3857 3825 3851 0.50 19.00 23280 16820 MARKET MOVER Rmseed trading range for the day is 3812-3876. Mustard seed prices seen supported on improved demand and on higher minimum support prices which will increase cost of production Demand for mustard oil shifted from palm oil in winter season as palm oil solidifies in cold weather. NCDEX accredited warehouses mustard seed stocks gained by 452 tonnes to 2288 tonnes. In the Alwar spot market in Rajasthan the price gained 12.85 rupee to 3867.5 rupees per 20kgs. BUY RMSEED DEC @ 3840 SL 3820 TGT 3865-3890.NCDEX MARKET COMMENTARY Rmseed settled up 0.5% at 3851 on improved demand and on higher minimum support prices which will increase cost of production. Demand for mustard oil shifted from palm oil in winter season as palm oil solidifies in cold weather. The government raised mustard seed MSP 1.63% to Rs 3,100 per quintal for 2014-15 compared to Rs 3,050 per quintal for a previous year. India's mustard seed sowing rose at 4.88 million hectare from 4.7 million hectare, until November 14, government data showed. As per Ministry of Agriculture, Rajasthan area coverage in Rabi season 2014-15 till 30thOct 2014 was 9.07 lakh ha vs 11.88 lakh ha in 2013-14. The fall in area was due to high temperature in Oct and lack of rains. Crops also faced germination problem due to the high Temperature. Haryana area coverage in Rabi 2014-15 till 30thOct was reportedly nil while it was 2 lakh ha in 2013-14 during this time. The reason is again the high temperature during Oct. MP area coverage in Rabi 2014-15 till 30th Oct. was 3.80 lakh ha while it was nil in 2013-14. Due to good rains in Oct and fields being unused, early sowing was possible there. UP area coverage in Rabi 2014-15 till 30th Oct was 4.91 lakh ha while it was nil in 2013-14 during this period. As fields this year were unused in kharif season, so farmers had sown Mustard early in UP. Technically market is under short covering as market has witnessed drop in open interest by -4.08% to settled at 23280 while prices up 19 rupee, now Rmseed is getting support at 3832 and below same could see a test of 3812 level, And resistance is now likely to be seen at 3864, a move above could see prices testing 3876. MENTHA OIL OPEN HIGH LOW CLOSE % CNG RE CNG OI VOLUME 694.3 697.1 685.5 688.7 -1.30 -9.10 6246 2149 MARKET MOVER Menthaoil trading range for the day is 678.8-702. Menthaoil spot is at 782/-. Spot market is down by Rs.5/-. Mentha oil prices dropped amid higher arrivals from Chandausi in Uttar Pradesh. Besides Besides, sluggish demand in the spot market too supported mentha oil prices downtrend. Expectations of a pick up in demand in coming weeks supported falling rates to some extent. SELL MENTHA OIL DEC NOV @ 692 SL 698 TGT 686-682.MCX MARKET COMMENTARY Menthaoil settled down -1.3% at 688.7 amid higher arrivals from Chandausi in Uttar Pradesh. Besides, sluggish demand in the spot market too supported mentha oil prices downtrend. Expectations of a pick up in demand in coming weeks supported falling rates to some extent. But higher stocks and lack of strong demand as of now prevented any strong uptrend in price movement also. Mentha oil production in India is likely to decline by 20 per cent, due to lower plantings of the aromatic herb in the past two years, due to falling prices. Sources estimate the area under mentha planting at 17,500 hectares this season, 20 per cent down, resulting in a proportionate fall in mentha oil production this year. Sources estimate oil production at 55,000 tonnes in 2013-14, of which 40 per cent was unsold and carried over for 2014-15. At Sambhal total arrivals are at 50 Drums(1drum=180kg), steady as against previous day’s arrival. At Rampur sources reported arrivals at 7 Drums(1-drum=180kg), lower by 3 Drums(1drum=180kg) as compared to previous day. At Barabanki arrivals were reported at 175 Drums(1-drum-180kg), lower by 25 Drums(1-drum-180kg) as compared to previous day. At Bareilly market arrivals were reported at 3 Drums(1-drum-180kg), lower by 2 Drums(1-drum-180kg) from previous day’s arrivals. Technically market is under long liquidation as market has witnessed drop in open interest by -8.94% to settled at 6246 while prices down -9.1 rupee, now Menthaoil is getting support at 683.7 and below same could see a test of 678.8 level, And resistance is now likely to be seen at 695.3, a move above could see prices testing 702. CHANA OPEN HIGH LOW CLOSE % CNG RE CNG OI VOLUME 3124 3204 3123 3193 2.24 70.00 78720 75250 MARKET MOVER Chana trading range for the day is 3092-3254. Chana prices ended with gains on poor supplies in spot markets amid a pick-up in demand from mills. However, fall in international prices due to expectations of higher pulses production in US, capped some gains. NCDEX accredited warehouses chana stocks gained by 3008 tonnes to 35878 tonnes. In Delhi spot market, chana gained by 6.45 rupee to end at 3082.4 rupee per 100 kgs. BUY CHANA DEC @ 3170 SL 3140 TGT 3220-3260.NCDEX MARKET COMMENTARY Chana settled up 2.24% at 3193 on poor supplies in spot markets amid a pick-up in demand from mills. However, fall in international prices due to expectations of higher pulses production in US, capped some gains in chana prices to some extent. Chana arrivals fell by 5 trucks to 20 trucks as compared to previous day. According to the fourth advanced estimates released by the Ministry of Agriculture, chana output in 2013-14 is estimated at 9.88 million tonnes, up 11.9 per cent compared with 8.83 million tonnes the previous year. The Government had initially set a target of 8.66 million tonnes. Increased acreage and favourable climatic conditions in the major producing States such as Madhya Pradesh, Maharashtra, Rajasthan and Karnataka also helped to push up the yield. Lower prices on the back of record output and comfortable supplies may force farmers to switch over to other remunerative crops such as mustard and coriander which could yield better returns. Due to this, the government has set a target of 9.3 million tons for chana output for 2014-15 rabi season, down 5.87% compared to previous year. Being a rabi crop, sowing of chana takes place after the harvesting of kharif crops between October and December, while harvesting takes place from January through May. Technically market is under fresh buying as market has witnessed gain in open interest by 5.4% to settled at 78720 while prices up 70 rupee, now Chana is getting support at 3143 and below same could see a test of 3092 level, And resistance is now likely to be seen at 3224, a move above could see prices testing 3254. TURMERIC OPEN HIGH LOW CLOSE % CNG RE CNG OI VOLUME 6296 6340 6270 6318 0.38 24.00 8440 2515 MARKET MOVER Turmeric trading range for the day is 6240-6380. Turmeric prices ended with gains as support seen taking positive cues from the spot market on rising exports demand. Furthermore, inadequate stocks position as well as restricted supplies from producing belts also influenced the commodity prices. Crop in Nizamabad and Maharashtra might be 12%-13% lower, which may support the prices. In Nizamabad, a major spot market in AP, the price ended at 6261.25 rupees gained 13.9 rupees. SELL TURMERIC DEC @ 6350 SL ABV 6450 TGT 6250-61606080. NCDEX MARKET COMMENTARY Turmeric settled up 0.38% at 6318 as support seen taking positive cues from the spot market on rising exports demand. Furthermore, inadequate stocks position as well as restricted supplies from producing belts also influenced the commodity prices. As per traders that crop in Nizamabad and Maharastra might be 12%-13% lower, which may support the prices. Inventory of Turmeric at erode around 20-22 lakh bags as compared to 27 lakh bags in last month and in Nizamabad inventory stand around 6.5 lakh bags. Sowing of Turmeric in AP for the 2014-15 season is reported at 0.13 lakh ha, as against 0.1 lakh ha last year and a normal sowing of 0.19 lakh ha. The area in Telanaga stood at 0.446 lakh ha against 0.431 lakh ha last year. Spot prices of turmeric increased by Rs. 200 a quintal at Erode markets for the local variety. Because of the slump yesterday, the turmeric grower farmers brought limited stock. Of the arrival of 4,500 bags, more than 1,300 bags are fine variety local turmeric. Traders those who received some upcountry orders purchased the same by quoting higher price. The hybrid varieties ruled flat. The finger variety in the Regulated Market Committee and Erode Cooperative Marketing Society were up Rs. 200 a quintal and the hybrid root variety was down Rs. 50. At the Erode Cooperative Marketing Society, the finger turmeric went for Rs. 5,589-6,699; the root variety Rs. 5,3896,219. All the 825 bags found takers. Technically market is under short covering as market has witnessed drop in open interest by -0.53% to settled at 8440, now Turmeric is getting support at 6279 and below same could see a test of 6239 level, And resistance is now likely to be seen at 6349, a move above could see prices testing 6379. JEERA OPEN HIGH LOW CLOSE % CNG RE CNG OI VOLUME 12325 12445 12235 12290 -0.36 -45.00 6927 3336 MARKET MOVER Jeera trading range for the day is 12115-12535. Jeera settled down due to profit booking driven by weak demand in the spot market. However, restricted arrivals from producing belts limited the downside. NCDEX accredited warehouses jeera stocks gained by 42 tonnes to 1019 tonnes. In Unjha, a key spot market in Gujarat, jeera edged down by 25 rupees to end at 12100 rupee per 100 kg. SELL JEERA DEC @ 12400 SL 12540 TGT 12280-12160.NCDEX MARKET COMMENTARY Jeera settled down -0.36% at 12290 due to profit booking driven by weak demand in the spot market. However, restricted arrivals from producing belts limited the downside. Sowing of the spice has commenced both in Gujarat and Rajasthan. Area under jeera in Gujarat was reported at 455,000 ha as against 335,200 ha last year while about 390,000 ha were sown in Rajasthan. Export orders are diverted to India due to Geo-political tensions in Syria and Turkey. Production is also expected to fall in Syria and Turkey due to crop failure. Exports of Jeera between Apr-July 2014 stood at 58,000 tn, up 40% as against 43,898 tn between Apr-July 2013. At Rajkot market sources reported arrivals at 800 quintals, higher by 350 quintals from previous day’s arrivals. At Unjha market in Mehsana total arrivals are at 15000 quintals, lower by 7000 quintals from previous trading day. At Jodhpur market sources reported arrivals at 1000 quintals, unchanged as compared to previous day’s arrival. At New Delhi market arrivals were reported at 7000 quintals, lower by 3000 quintals from previous trading day. Old stock arrivals are increasing in Jeera and some selling pressure is being built. The demand remains good though. Huge decline is estimated in Jeera sowing in the current year. Technically market is under fresh selling as market has witnessed gain in open interest by 1.54% to settled at 6927 while prices down -45 rupee, now Jeera is getting support at 12202 and below same could see a test of 12113 level, And resistance is now likely to be seen at 12412, a move above could see prices testing 12533. CASTORSEED OPEN HIGH LOW CLOSE % CNG RE CNG OI 4823 4857 4813 4827 -0.02 -1.00 296090 VOLUME 71640 SUP-3 4763 SUP-2 4788 SUP-1 4807 P.P. 4832 RES-1 4851 RES-2 4876 RES-3 4895 OI (%) 0.77 MARKET COMMENTARY Castorseed settled down -0.02% at 4827, technically market is under fresh selling as market has witnessed gain in open interest by 0.77% to settled at 296090 while prices down -1 rupee, now Castorseed is getting support at 4807 and below same could see a test of 4788 level, And resistance is now likely to be seen at 4851, a move above could see prices testing 4876. Castorseed trading range for the day is 4788-4876. BUY CASTORSEED JUNE @ 3160 SL 3135 TGT 3185-3210.NCDEX The spot prices of castorseed in Disa mandi dropped -10.15 rupee to 4698 rupees per kg. MAIZERABI OPEN HIGH LOW CLOSE % CNG RE CNG OI 1187 1193 1162 1174 -1.43 -17.00 9360 VOLUME 2670 SUP-3 SUP-2 SUP-1 P.P. RES-1 RES-2 RES-3 OI (%) 1128 1145 1159 1176 1190 1207 1221 -7.33 MARKET MOVER Maize trading range for the day is 1145-1207. Maize prices dropped tracking weakness in spot demand and overseas prices as a record harvest in the U.S. neared completion. According to the latest data from Agricultural Department, the acreage under Maize stands at 72.18 lakh hectares. NCDEX accredited warehouses maize stocks gained by 100 tonnes to 16986 tonnes. In Nizamabad market, maize prices dropped -2 rupee to end at 1342 rupees per 10 kg. SELL MAIZERABI DEC @ 1190 SL 1198 TGT 1185-1170.NCDEX MARKET COMMENTARY Maize settled down -1.43% at 1174 tracking weakness in spot demand and overseas prices as a record harvest in the U.S. neared completion. The USDA said that nearly 89% of the U.S. corn harvest was completed as of last week, compared to 80% a week earlier. According to the agency, the U.S. will produce 14.407 billion bushels this year, an all-time high. At Naugachia market in Bihar total arrivals are at 4167 Quintal, higher by 834 Quintal as against previous day. At Khanna market in arrivals were reported at 1800 Quintal, unchanged as compared to previous day’s arrival. At Davanagere market total arrivals are at 5000 Bags, up by 2000 Bags as compared to previous day. At Nizamabad market in Andhra Pradesh arrivals were reported at 10000 Qtl, unchanged as compared to previous day’s arrival. As per IBIS data, exports of corn were reported around 0.0054 million tons for the period of Nov 03 to Nov 09, 2014 mainly to Malaysia, Nepal, Singapore and USA. Some demand from stockists is emerging in Maize. Arrivals from the latest Kharif harvest have started coming in Nizamabad and Sangli. The spot maize markets are witnessing a thin activity as the corporate buyers have already completed their purchases and steady sowing progress in the kharif season is keeping overall sentiments under check. Supplies from Bihar are also increasing from the second round of rabi crop. Technically market is under long liquidation as market has witnessed drop in open interest by -7.33% to settled at 9360 while prices down -17 rupee, now Maize is getting support at 1160 and below same could see a test of 1145 level, And resistance is now likely to be seen at 1191, a move above could see prices testing 1207. MONTH OPEN HIGH LOW CLOSE OPEN INT CHANGE IN RS. CHANGE IN % VOLUME OI (%) 945 -3.01 OTHER COMMODITY ITEMS TRADING LEVEL MCX CARDAMOM Dec 2014 INTRA-DAY LEVEL FOR Dec 2014 MONTH 869.0 Support Resistance 870.5 859.0 861.7 Sup-1 Sup-2 Sup-3 857 852 845 Res-1 Res-2 Res-3 868 875 880 593.8 586.3 590.9 Sup-1 Sup-2 Sup-3 586 582 578 Res-1 Res-2 Res-3 594 598 602 453.0 448.4 451.0 Sup-1 Sup-2 Sup-3 448.6 446.2 444.0 Res-1 Res-2 Res-3 453.2 455.4 457.8 1669.0 1652.0 1661.0 Sup-1 Sup-2 Sup-3 1653 1644 1636 Res-1 Res-2 Res-3 1670 1678 1687 3857 3825 3851 Sup-1 Sup-2 Sup-3 3831 3812 3799 Res-1 Res-2 Res-3 3863 3876 3895 3338.0 3196.0 3332.0 Sup-1 Sup-2 Sup-3 3240.0 3147.0 3098.0 Res-1 Res-2 Res-3 3382.0 3431.0 3524.0 1659 1642 1647 Sup-1 Sup-2 Sup-3 1639 1632 1622 Res-1 Res-2 Res-3 1656 1666 1673 2757 2745 2751 Sup-1 Sup-2 Sup-3 2745 2739 2733 Res-1 Res-2 Res-3 2757 2763 2769 1096 -5.3 -0.61 P.POINT Weak 864 NCDEX REF.SOYA OIL Dec 2014 INTRA-DAY LEVEL FOR Dec 2014 MONTH 587.0 Support Resistance 85790 3.05 0.52 46140 -2.91 P.POINT Positive 590 MCX CRUDE PALM OIL Nov 2014 INTRA-DAY LEVEL FOR Nov 2014 MONTH 451.0 Support Resistance 1247 1.4 0.31 358 -5.39 P.POINT Positive 450.8 NCDEX BARLEY Dec 2014 INTRA-DAY LEVEL FOR Dec 2014 MONTH 1652.0 Support Resistance 3670 1 0.06 360 -2.39 P.POINT Weak 1661 NCDEX RMSEED Dec 2014 INTRA-DAY LEVEL FOR Dec 2014 MONTH 3831 Support Resistance 23280 19 0.50 16820 -4.08 P.POINT Positive 3844 NCDEX SOYABEAN Dec 2014 INTRA-DAY LEVEL FOR Dec 2014 MONTH 3300.0 Support Resistance 121480 41 1.25 90340 -0.33 P.POINT Positive 3289.0 NCDEX WHEAT Dec 2014 INTRA-DAY LEVEL FOR Dec 2014 MONTH 1646 Support Resistance 5400 1 0.06 2960 14.65 P.POINT Weak 1649 NCDEX SUGARM Dec 2014 INTRA-DAY LEVEL FOR Dec 2014 MONTH 2757 Support Resistance 11660 -6 -0.22 400 P.POINT Weak 2751 NCDEX REF.SOYA OIL JUNE -0.93 SPREAD UPDATE DAILY SPREAD IN MENTHA OIL - MCX MONTH RATE Nov 2014 688.7 Dec 2014 700.3 Jan 2015 712.2 Nov 2014 DAILY SPREAD IN SOYABEAN - NCDEX Dec 2014 Jan 2015 MONTH RATE 11.6 24 Dec 2014 3332 11.9 Jan 2015 3372 Feb 2015 3423 Dec 2014 Jan 2015 40 Feb 2015 91 51 Spread between Menthaoil NOV & DEC contracts yesterday ended Spread between Soyabean DEC & JAN contracts yesterday ended at Rs.11.6, we have seen yesterday Menthaoil future had traded at Rs.40, we have seen yesterday Soyabean future had traded in in a negative zone and settled -1.3% down. a positive zone and settled 1.25% up. DAILY SPREAD IN CPO - MCX MONTH RATE Nov 2014 451 Dec 2014 461.8 Jan 2015 470.5 Nov 2014 DAILY SPREAD IN CHANA - NCDEX Dec 2014 Jan 2015 MONTH RATE 10.8 20 Dec 2014 3193 8.7 Jan 2015 3230 Feb 2015 3268 Dec 2014 Jan 2015 37 Feb 2015 75 38 Spread between CPO NOV & DEC contracts yesterday ended at Spread between Chana DEC & JAN contracts yesterday ended at Rs.10.8, we have seen yesterday CPO future had traded in a Rs.37, we have seen yesterday Chana future had traded in a positive zone and settled 0.31% up. positive zone and settled 2.24% up. DAILY SPREAD IN JEERA - NCDEX MONTH RATE Dec 2014 12290 Jan 2015 12460 Feb 2015 12640 Dec 2014 DAILY SPREAD IN TURMERIC - NCDEX Jan 2015 Feb 2015 MONTH RATE 170 350 Dec 2014 6318 180 Apr 2015 7378 May 2015 7454 Dec 2014 Apr 2015 May 2015 1060 1136 76 Spread between Jeera DEC & JAN contracts yesterday ended at Spread between Turmeric DEC & APR contracts yesterday ended Rs.170, we have seen yesterday Jeera future had traded in a at Rs.1060, we have seen yesterday Turmeric future had traded negative zone and settled -0.36% down. in a positive zone and settled 0.38% up. DAILY SPREAD IN CARDAMOM - MCX MONTH RATE Dec 2014 861.7 Jan 2015 891.7 Feb 2015 913.8 Dec 2014 DAILY SPREAD IN REF.SOYA - NCDEX Jan 2015 Feb 2015 MONTH RATE 30 52 Dec 2014 590.9 22.1 Jan 2015 599.95 Feb 2015 602 Dec 2014 Jan 2015 9.05 Feb 2015 11 2.05 Spread between Cardamom DEC & JAN contracts yesterday Spread between Ref.Soyaoil DEC & JAN contracts yesterday ended at Rs.30, we have seen yesterday Cardamom future had ended at Rs.9.05, we have seen yesterday Ref.Soyaoil future had traded in a negative zone and settled -0.61% down. traded in a positive zone and settled 0.52% up. NEWS YOU CAN USE The government has still not decided on extending a subsidy on export of raw sugar for the 2014-15 marketing year that started in October, Food Minister Ram Vilas Paswan said. In February, the Centre had announced a subsidy for export of raw sugar up to four million tonnes in order to help the cash-starved industry clear sugar cane arrears to farmers. The subsidy scheme ended in September. “No decision has been taken to extend the export subsidy,” Paswan told reporters here. The minister said status quo remains as far as the subsidy issue is concerned. The subsidy was originally fixed at Rs 3,300 per tonne for February-March and the Centre had decided to review the quantum of subsidy every two months. Incentive was reduced to Rs 2,277 per tonne for AprilMay and the same was reinstated at Rs 3,300 per tonne for June- July. For August-September, the subsidy was hiked to Rs 3,371 per tonne. Under the export incentive scheme, India had exported 7 lakh tonnes of raw sugar in 2013-14 marketing year (OctoberSeptember). Last month, a top food ministry official had said the government would consider extending the subsidy on export of raw sugar after assessing production estimates for the current marketing year and sugarcane arrears to farmers. Soybean output in India is likely to rise by about 10% this year, due to favourable weather conditions. A survey by The Soybean Processors' Association (Sopa), the Indore-based apex trade body, has forecast India's overall output at 10.44 million tonnes, as compared to 9.48 mn tonne the previous year. The record so far has been 12.19 mn tonne in 2012. The survey was conducted in the three major producing states of Maharashtra, Madhya Pradesh and Rajasthan. These account for 90% of overall annual production. As for groundnut, the Indian Oilseeds and Produce Export Promotion Council (IOPEC) has projected output at 4.33 mn tonne this year as compared to 5.16 mn tonne last year. Kishore Tanna, its chairman, said deficient monsoon rainfall had impacted sowing, estimated at 3.26 mn ha in 2014 versus 3.64 mn ha in 2013. Groundnut export in 2014-15 is expected to cross 600,000 tonnes, in comparison with 512,000 tonnes last year. These had risen by 40% in the first half of this financial year, to 221,000 tonnes. Sesame seed, however, should see much more output this year, said Tanna. IOPEPC estimates it to rise 143% to 476,891 tonnes, from 196,180 tonnes last year. Its export is also expected to fare much better. India exported 257,000 tonnes of sesame seeds last year. Corporate Office 301/302, Payal Tower II, Sayajigunj, Vadodara 390005, Call: +91 265 2226201 Email: [email protected] SMS JHAVERI to 54959 Disclaimer : The report and information contained herein is strictly confidential and meant solely for the selected recipient and may not be altered in any way, transmitted to, copied or distributed, in part or in whole, to any other person or to the media or reproduced in any form, without prior written consent. 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