23-Feb-15
Item
Open
High
35490
35500
Low
Close
% Cng
OI
34945
-1.34
41
Comments
Spices
Pepper
Turmeric
Jeera
34420
Agro Market
8900
9196
8786
9088
2.34
15250
15350
15010
15290
-0.10
17547
6630
6698
6391
6424
-2.74
25840
Coriander
32570
Cardamom
1141
1152
1138.3
1143.7
-0.24
1662
Sugar m
2716
2719
2652
2655
-2.10
23080
Wheat
1575
1600
1544
1589
0.57
5020
Maize
1257
1257
1227
1240
-0.80
5770
Barley
1165
1177.5
1159
1171
0.47
9180
Chana
3690
3691
3650
3672
-0.60
174130
Kapas
766
769
756
758.5
-0.78
8635
Cotton
15130
15210
14920
15000
-0.73
2731
Mentha Oil
745.4
752.5
742.2
750.8
0.70
7840
Soya Bean
3415
3422
3384
3390
-0.15
78730
Ref.soya oil
606.1
607.5
598
598.55
-1.32
106895
465
465.8
461.7
462.1
-0.56
1677
Rmseed
3366
3389
3351
3375
0.48
45870
Castorseed
3797
3816
3742
3764
-0.76
103600
Cereals
Most of the spices counter on the
NCDEX yesterday ended with losses.
Dhaniya prices ended with more than
two percent losses followed by losses
in jeera prices whereas turmeric prices
ended with more than two percent
gains. Turmeric prices ended with
gains on seasonal demand from north
India and crop damage reports from
south India. Jeera prices ended with
losses on profit booking after prices
recovered on lower sowing area and
export demand.
Others
Cpo
DAILY MARKET LEVEL
COMMODITIES
CARDAMOM
WHEAT
MENTHA OIL
CHANA
TURMERIC
JEERA
SOYABEAN
R.SOYA OIL
CLOSE
1143.7
1589
750.8
3672
9088
15290
3390
598.6
1164.8
1668
765.1
3733
9672
15760
3452
613.0
1158.4
1634
758.8
3712
9434
15555
3437
610.0
1151.1
1612
754.8
3692
9262
15420
3414
604.0
1144.7
1578
748.5
3671
9024
15215
3399
601.0
1137.4
1556
744.5
3651
8852
15080
3376
595.0
1131.0
1522
738.2
3630
8614
14875
3361
592.0
1123.7
1500
734.2
3610
8442
14740
3338
586.0
OI
1662
5020
7840
174130
32570
17547
78730
106895
OI (%)
-0.12
-5.46
-6.24
4.23
-1.51
0.50
1.26
-1.24
RESISTANCE
P. POINT
SUPPORT
SPOT MARKETS UPDATE
CORIANDER
SUGAR
SOYABEAN
CHANA
TURMERIC
JEERA
R.SOYA OIL
WHEAT
RM SEED
COTTON
6424
2655
3390
3672
9088
15290
598.6
1589
3375
15000
-2.74
-2.10
-0.15
-0.60
2.34
-0.10
-1.32
0.57
0.48
-0.73
SOYABEAN
OPEN
HIGH
LOW
CLOSE
% CNG
RE CNG
OI
VOLUME
3415
3422
3384
3390
-0.15
-5.00
78730
23510
MARKET MOVER
Soyabean trading range for the day is 3361-3437.
Soyabean settled flat on profit booking after gaining as USDA
trimmed US soybean production forecast
India soymeal exports in the month of January dropped
71.34% from a year earlier on higher prices.
Arrivals across Madhya Pradesh were about 90,000-100,000
bags of 90 kilograms compared to 50,000-75,000 of 90
kilograms.
At the Indore spot market in top producer MP, soybean
dropped -17 rupee to 3410 rupee per 100 kgs.
BUY SOYABEAN APR @ 3375 SL 3345 TGT 3410-3460.NCDEX
MARKET COMMENTARY
Soyabean settled down -0.15% at 3390 on profit booking after gaining as United States Department of Agriculture (USDA) trimmed US soybean
production forecast, which indicating tight supply in the world's top bean producer. Furthermore, higher demand in international market too
supported soyabean prices uptrend. India soymeal exports in the month of January dropped 71.34% from a year earlier on higher prices of the
soybean in the local market, data released from Solvent Extractors Association of India (SEA) showed. Investors expects higher arrivals from South
America, the biggest rival of US, after United States Department of Agriculture (USDA) trimmed bean output from United States, the biggest bean
producer. Argentina, world's third biggest soybean producer, 2014-15 crop output may increase to 56 million tons compared to 55 million tons in the
previous month and 54 million tons a year ago. Arrivals across Madhya Pradesh were about 90,000-100,000 bags of 90 kilograms compared to
50,000-75,000 of 90 kilograms. Conab has cut trimmed its Brazilian forecast for the 2014/15 soybean crop, which is under harvest, to 94.6 million
tonnes from its earlier estimate of 95.9 million tonnes. This is due to the decline in yield potential due to dry weather. The Conab also estimated
Brazil’s likely soybean shipments to 47.8 million tonnes, which lower from 49.6 million tonnes in January 2015. Technically market is under fresh
selling as market has witnessed gain in open interest by 1.26% to settled at 78730 while prices down -5 rupee, now Soyabean is getting support at
3375 and below same could see a test of 3361 level, And resistance is now likely to be seen at 3413, a move above could see prices testing 3437.
RM Seed
OPEN
HIGH
LOW
CLOSE
% CNG
RE CNG
OI
VOLUME
3366
3389
3351
3375
0.48
16.00
45870
41220
MARKET MOVER
Rmseed trading range for the day is 3334-3410.
Mustard seed ended with gains as demand remains good in the
domestic markets.
Trade sources anticipate mustard seed output around
520,000‐550,000 tons compared to 650,000 tons last year.
Rapeseed meal exports from India dropped 20.69% on year to
44,361 tons in January on weak demand from South Korea,
Iran and Thailand.
In the Alwar spot market in Rajasthan the price remains
unchanged at0 rupee to 3650.55 rupees per 100kgs.
BUY RMSEED APR @ 3360 SL 3340 TGT 3385-3410.NCDEX
MARKET COMMENTARY
Rmseed settled up 0.48% at 3375 as demand remains good in the domestic markets. Mustard new crop is expected to hit the markets very soon.
Trade sources anticipate mustard seed output around 520,000‐550,000 tons compared to 650,000 tons last year. Prices of the rm seed were also
under pressure after rapeseed meal exports from India dropped 20.69% on year to 44,361 tons in January on weak demand from South Korea, Iran
and Thailand. For the record, production of mustard/rapeseed, a winter crop cultivated in the northern States. was 8.028 million tonnes last year
with the crop sown on 6.362 million hectares. Rajasthan is the major producer contributing up to 47 per cent of the domestic production, followed by
Madhya Pradesh (11.44 per cent), Haryana (12 per cent) and Uttar Pradesh (10.41 per cent). Once the rains recede, markets are likely to pick up as
demand for Mustard Oil remains strong in Indian markets. Mustard area coverage in All over India is 63.79 lakh Ha during Rabi 2014-15 and 67.00
lakh ha in 2013-14, area coverage during Rabi 2014-15 is lower.As per latest reports from Oil World, the output of mustard in Europe is expected to
decline near 15% to 205 lakh tons, the lowest level in past 30 years, while it was 240 lakh tons last year. There is outbreak of insects on the
mustard cops in Europe, as per the Oil World report, which may reduce the yield. Technically market is under fresh buying as market has witnessed
gain in open interest by 2.71% to settled at 45870 while prices up 16 rupee, now Rmseed is getting support at 3354 and below same could see a
test of 3334 level, And resistance is now likely to be seen at 3392, a move above could see prices testing 3410.
MENTHA OIL
OPEN
HIGH
LOW
CLOSE
% CNG
RE CNG
OI
VOLUME
745.4
752.5
742.2
750.8
0.70
5.20
7840
1844
MARKET MOVER
Menthaoil trading range for the day is 738.2-758.8.
Menthaoil spot is at 850/-. Spot market is up by Rs.2/-.
Mentha oil prices gained due to higher demand from
pharmaceutical Industries.
But, some gains were capped by the reports of rains in some
areas in growing state of UP as the sowing is set to start in
coming days.
Rains at this time would be beneficial for the crop sowing.
BUY MENTHA OIL FEB ABV 745.50 SL 736 TGT 752-759-766.
MCX (BTST)
MARKET COMMENTARY
Menthaoil settled up 0.7% at 750.8 due to higher demand from pharmaceutical Industries. But, some gains were capped by the reports of rains in
some areas in growing state of UP as the sowing is set to start in coming days. Reports of rains in some areas in growing state of UP kept trend
slight weak for Mentha Oil as the sowing is set to start in coming days. Rains at this time would be beneficial for the crop sowing. Mentha oil
production is expected to fall this year by 30 per cent to 40,000 tonnes from 55,000 tonnes a year ago, with acreage under the commodity declining
as farmers sentiment were dampened due to lower prices. Mentha oil arrivals to the spot market, especially from the Chandausi in Uttar Pradesh,
have increased substantially. The resulting fall in prices was capped due to lower production of the commodity this season. Acreage is expected to
fall by 20 per cent this year, to 17,500 hectare on the back of a large carry-over stock from last year, which also had an impact on prices. However,
export demand for the spice is expected to go up in the coming weeks. Last year, the total production of mentha oil stood at 55,000 tonnes, out of
which 40 per cent of the crop is carry forwarded for the current year. Technically market is under short covering as market has witnessed drop in
open interest by -6.24% to settled at 7840 while prices up 5.2 rupee, now Menthaoil is getting support at 744.5 and below same could see a test of
738.2 level, And resistance is now likely to be seen at 754.8, a move above could see prices testing 758.8.
CHANA
OPEN
HIGH
LOW
CLOSE
% CNG
RE CNG
OI
VOLUME
3690
3691
3650
3672
-0.60
-22.00
174130
104560
MARKET MOVER
Chana trading range for the day is 3630-3712.
Chana prices ended with losses due to profit booking after
prices gained on expected lower output due to a drop in area.
In 2014-15, the Production of pulses estimated at 18.43
million tonnes is lower by 4.36% from 19.5 million tonnes
produced in 2013-14.
NCDEX accredited warehouses chana stocks gained by 892
tonnes to 39873 tonnes.
In Delhi spot market, chana dropped by -31.95 rupee to end
at 3535 rupee per 100 kgs.
SELL CHANA APR @ 3700 SL 3748 TGT 3665-3630. NCDEX
MARKET COMMENTARY
Chana settled down -0.6% at 3672 due to profit booking after prices gained on expected lower output due to a drop in area. In 2014-15, the
Production of pulses estimated at 18.43 million tonnes is lower by 4.36% from 19.5 million tonnes produced in 2013-14. India is likely to harvest
16% lower chana in 2014-15 from last year on lower planted area (down 16% Y-O-Y). Meanwhile, the decline in tur production due to erratic rainfall
conditions during the monsoon season-2014. The 2nd Advance Estimates of production of major crops for 2014-15 and Final Estimates for 2013-14
have been released by the Department of Agriculture Cooperation on 18th February, 2015. Chana prices are sustaining at higher levels on expected
drop in output caused due to lower sowing. Chana sowing operations are complete across India and harvesting of early sown crop has already
begun. As per the latest data available with the government, area under Chana as on 13 February 2015 stands at 85.91 lakh ha compared with the
102.25 lakh ha area planted last year. Although acreage remains lower 16 percent year on year and has crossed the normal area of 84.14 lakh
hectares. As per market sources, new crop arrivals from major producing belts is reported at 55-60 thousand bags including 25 thousand bags from
Karnataka/AP and 30 thousand bags from Maharashtra. Technically market is under fresh selling as market has witnessed gain in open interest by
4.23% to settled at 174130 while prices down -22 rupee, now Chana is getting support at 3651 and below same could see a test of 3630 level, And
resistance is now likely to be seen at 3692, a move above could see prices testing 3712.
TURMERIC
OPEN
HIGH
LOW
CLOSE
% CNG
RE CNG
OI
VOLUME
8900
9196
8786
9088
2.34
208.00
32570
28500
MARKET MOVER
Turmeric trading range for the day is 8614-9434.
Turmeric prices ended with gains on seasonal demand from
north India and crop damage reports from south India.
At Nizamabad market sources reported arrivals at 10000
quintals, lower by 3000 quintals as compared to previous day.
NCDEX accredited warehouses turmeric stocks gained by 120
tonnes to 1563 tonnes.
In Nizamabad, a major spot market in AP, the price ended at
8264.7 rupees gained 164.7 rupees.
BUY TURMERIC APR @ 9000-9040 SL BELOW 8850 TGT 91509320. NCDEX (BTST)
MARKET COMMENTARY
Turmeric settled up 2.34% at 9088 on seasonal demand from north India and crop damage reports from south India. Telangana and Andhra Pradesh produce
the crop that gives farmers very high returns. There has been an increase in cultivation of turmeric in both the States. The acreage has gone up to 50,207
hectares from 43,124 hectares in Telangana and to 18,749 hectares from 10,240 hectares in a span of two years. The productivity stands low despite an
increase in acreage due to a continuous dry spell in the region. At Nizamabad market sources reported arrivals at 10000 quintals, lower by 3000 quintals as
compared to previous day. At Erode market sources reported arrivals at 2000 quintals, down by 2000 quintals as against previous day. Following a spike, prices
of spot turmeric too increased at Erode markets. The hybrid finger turmeric sold at Rs. 9,759 a quintal – Rs. 1,600 more than previous day. The hybrid root
variety was also up Rs. 1,500 and went for Rs. 8,923. This was due to the increase in price it the futures market and good increase in price at other turmeric
sale centres of Nizamabad and Sangli. 1,500 bags of new turmeric arrived for sale and all were sold at Rs. 8,309 –up Rs. 300. At the Regulated Market
Committee, the root turmeric gained Rs. 400 a quintal while the finger turmeric by Rs. 100 a quintal. Technically market is under short covering as market has
witnessed drop in open interest by -1.51% to settled at 32570 while prices up 208 rupee, now Turmeric is getting support at 8851 and below same could see a
test of 8613 level, And resistance is now likely to be seen at 9261, a move above could see prices testing 9433.
JEERA
OPEN
HIGH
LOW
CLOSE
% CNG
RE CNG
OI
VOLUME
15250
15350
15010
15290
-0.10
-15.00
17547
12495
MARKET MOVER
Jeera trading range for the day is 14875-15555.
Jeera prices ended with losses on profit booking after prices
recovered on lower sowing area and export demand.
Lower production expected this time but improved climate in
growing states are reportedly good for the standing crop.
NCDEX accredited warehouses jeera stocks dropped by 51
tonnes to 12451 tonnes.
In Unjha, a key spot market in Gujarat, jeera edged down by 198.8 rupees to end at 15341.2 rupee per 100 kg.
BUY JEERA APR ABV 15160 SL 15000 TGT 15320-1556015720. NCDEX (BTST)
MARKET COMMENTARY
Jeera settled down -0.1% at 15290 on profit booking after prices recovered on lower sowing area and export demand. Lower production expected
this time but improved climate in growing states are reportedly good for the standing crop. According to the data, jeera, a rabi crop, has been sown
on 2.64 lakh hectares (lh) this year in Gujarat compared with 4.54 lh during the same period a year ago. In Rajasthan, it has been sown on 3.39 lh
this year against 3.90 lh last year. According to trade sources, sowing of jeera in Gujarat and Rajasthan has been affected due to erratic monsoon
and farmers fetching low prices in the last two years. Jeera is sown from October till the beginning of December and harvesting starts in February.
March-April will be the months of peak arrivals. Meanwhile, late withdrawal of South-West monsoon this season resulted in increased soil moisture,
which is not beneficial to cumin seeds. At Rajkot market arrivals were reported at 842 quintals, down by 38 quintals from previous trading day. At
Unjha market in Mehsana arrivals were reported at 10000 quintals, steady as against previous day’s arrival. At New Delhi market estimated market
supply was at 10000 quintals, up by 5000 quintals as compared to previous day. At Jodhpur market estimated market supply was at 250 quintals,
unchanged as compared to previous day’s arrival. Technically market is under fresh selling as market has witnessed gain in open interest by 0.5% to
settled at 17547 while prices down -15 rupee, now Jeera is getting support at 15083 and below same could see a test of 14877 level, And resistance
is now likely to be seen at 15423, a move above could see prices testing 15557.
CASTORSEED
OPEN
HIGH
LOW
CLOSE
% CNG
RE CNG
OI
3797
3816
3742
3764
-0.76
-29.00
103600
VOLUME
38350
SUP-3
3658
SUP-2
3700
SUP-1
3732
P.P.
3774
RES-1
3806
RES-2
3848
RES-3
3880
OI (%)
-0.04
MARKET COMMENTARY
Castorseed settled down -0.76% at 3764,
technically market is under long liquidation as
market has witnessed drop in open interest by 0.04% to settled at 103600 while prices down -29
rupee, now Castorseed is getting support at 3732
and below same could see a test of 3700 level, And
resistance is now likely to be seen at 3806, a move
above could see prices testing 3848.
Castorseed trading range for the day is 3700-3848.
BUY CASTORSEED JUNE @ 3160 SL 3135 TGT 3185-3210.NCDEX
The spot prices of castorseed in Disa mandi dropped -15.65 rupee to 3800 rupees per kg.
MAIZERABI
OPEN
HIGH
LOW
CLOSE
% CNG
RE CNG
OI
1257
1257
1227
1240
-0.80
-10.00
5770
VOLUME
2060
SUP-3
SUP-2
SUP-1
P.P.
RES-1
RES-2
RES-3
OI (%)
1195
1211
1225
1241
1255
1271
1285
-6.63
MARKET MOVER
Maize trading range for the day is 1211-1271.
Maize prices ended with losses tracking weakness in spot
demand and overseas prices.
Maize have been sown in 15.37 lakh hectares as of now during
Rabi season, lower by 0.16 lakh hectares as compared to last
year.
At Nizamabad market in Andhra Pradesh sources reported
arrivals at 1500 Qtl, up by 1000 Qtl as compared to previous
day.
In Nizamabad maize prices gained 0.85 rupee to end at 1250.4
rupees per 100 kg.
SELL MAIZE MAR @ 1255 SL 1275 TGT 1235-1215.NCDEX
MARKET COMMENTARY
Maize settled down -0.8% at 1240 tracking weakness in spot demand and overseas prices. As per ministry of agriculture, maize have been
sown in 15.37 lakh hectares as of now during Rabi season, lower by 0.16 lakh hectares as compared to last year. Lower acreage reported
in A.P, Bihar, Gujarat and Jharkhand. Use of U.S. corn in ethanol production increased 5 percent in December, the U.S. Department of
Agriculture said in a new monthly report. In December, the new report showed 510.1 million bushels of corn were used in dry and wet
corn milling for fuel and beverage alcohol. That is up from 485.1 million bushels in November and 476.5 million bushels in October. At
Davanagere market arrivals were reported at 2000 Bags, unchanged as compared to previous day’s arrival. At Nizamabad market in
Andhra Pradesh sources reported arrivals at 1500 Qtl, up by 1000 Qtl as compared to previous day. At Ahmedabad market in Gujarat
estimated market supply was at 6000 bags, up by 1000 bags as compared to previous day. As per IBIS data, exports of corn were
reported around 0.044 million tons for the period of 9th Feb to 15th Feb’15 mainly to Indonesia, Malaysia and Vietnam. Technically market
is under long liquidation as market has witnessed drop in open interest by -6.63% to settled at 5770 while prices down -10 rupee, now
Maize is getting support at 1226 and below same could see a test of 1211 level, And resistance is now likely to be seen at 1256, a move
above could see prices testing 1271.
MONTH
OPEN
HIGH
LOW
CLOSE
OPEN INT
CHANGE
IN RS.
CHANGE
IN %
VOLUME
OI (%)
1466
-0.12
OTHER COMMODITY ITEMS TRADING LEVEL
MCX CARDAMOM
Mar 2015
INTRA-DAY
LEVEL FOR
Mar 2015
MONTH
1141.0
Support
Resistance
1152.0
1138.3
1143.7
Sup-1
Sup-2
Sup-3
1137
1131
1124
Res-1
Res-2
Res-3
1151
1158
1165
607.5
598.0
598.6
Sup-1
Sup-2
Sup-3
595
592
586
Res-1
Res-2
Res-3
604
610
613
465.8
461.7
462.1
Sup-1
Sup-2
Sup-3
460.6
459.1
456.5
Res-1
Res-2
Res-3
464.7
467.3
468.8
1177.5
1159.0
1171.0
Sup-1
Sup-2
Sup-3
1161
1151
1143
Res-1
Res-2
Res-3
1179
1187
1197
3389
3351
3375
Sup-1
Sup-2
Sup-3
3355
3334
3317
Res-1
Res-2
Res-3
3393
3410
3431
3422.0
3384.0
3390.0
Sup-1
Sup-2
Sup-3
3376.0
3361.0
3338.0
Res-1
Res-2
Res-3
3414.0
3437.0
3452.0
1600
1544
1589
Sup-1
Sup-2
Sup-3
1556
1522
1500
Res-1
Res-2
Res-3
1612
1634
1668
2719
2652
2655
Sup-1
Sup-2
Sup-3
2631
2608
2564
Res-1
Res-2
Res-3
2698
2742
2765
1662
-2.7
-0.24
P.POINT
Weak
1145
NCDEX REF.SOYA OIL
Apr 2015
INTRA-DAY
LEVEL FOR
Apr 2015
MONTH
606.1
Support
Resistance
106895
-8
-1.32
30680
-1.24
P.POINT
Weak
601
MCX CRUDE PALM OIL
Feb 2015
INTRA-DAY
LEVEL FOR
Feb 2015
MONTH
465.0
Support
Resistance
1677
-2.6
-0.56
695
-14.35
P.POINT
Weak
463.2
NCDEX BARLEY
Apr 2015
INTRA-DAY
LEVEL FOR
Apr 2015
MONTH
1165.0
Support
Resistance
9180
5.5
0.47
3530
19.84
P.POINT
Positive
1169
NCDEX RMSEED
Apr 2015
INTRA-DAY
LEVEL FOR
Apr 2015
MONTH
3366
Support
Resistance
45870
16
0.48
41220
2.71
P.POINT
Positive
3372
NCDEX SOYABEAN
Apr 2015
INTRA-DAY
LEVEL FOR
Apr 2015
MONTH
3415.0
Support
Resistance
78730
-5
-0.15
23510
1.26
P.POINT
Weak
3399.0
NCDEX WHEAT
Mar 2015
INTRA-DAY
LEVEL FOR
Mar 2015
MONTH
1575
Support
Resistance
5020
9
0.57
1830
-5.46
P.POINT
Positive
1578
NCDEX SUGARM
Mar 2015
INTRA-DAY
LEVEL FOR
Mar 2015
MONTH
2716
Support
Resistance
23080
-57
-2.10
6680
P.POINT
Weak
2675
NCDEX REF.SOYA OIL JUNE
0.87
SPREAD UPDATE
DAILY SPREAD IN MENTHA OIL - MCX
MONTH
RATE
Feb 2015
750.8
Mar 2015
760.9
Apr 2015
770.8
Feb 2015
DAILY SPREAD IN SOYABEAN - NCDEX
Mar 2015
Apr 2015
MONTH
RATE
10.1
20
Apr 2015
3390
9.9
Jun 2015
3408
Aug 2015
3420
Apr 2015
Jun 2015
18
Aug 2015
30
12
Spread between Menthaoil FEB & MAR contracts yesterday ended Spread between Soyabean APR & JUN contracts yesterday ended
at Rs.10.1, we have seen yesterday Menthaoil future had traded at Rs.18, we have seen yesterday Soyabean future had traded in
in a positive zone and settled 0.7% up.
a negative zone and settled -0.15% down.
DAILY SPREAD IN CPO - MCX
MONTH
RATE
Feb 2015
462.1
Mar 2015
465.4
Apr 2015
467.8
Feb 2015
DAILY SPREAD IN CHANA - NCDEX
Mar 2015
Apr 2015
MONTH
RATE
3.3
6
Apr 2015
3672
2.4
May 2015
3681
Jun 2015
3710
Apr 2015
May 2015
9
Jun 2015
38
29
Spread between CPO FEB & MAR contracts yesterday ended at Spread between Chana APR & MAY contracts yesterday ended at
Rs.3.3, we have seen yesterday CPO future had traded in a Rs.9, we have seen yesterday Chana future had traded in a
negative zone and settled -0.56% down.
negative zone and settled -0.6% down.
DAILY SPREAD IN JEERA - NCDEX
MONTH
RATE
Mar 2015
15290
Apr 2015
15555
May 2015
15815
Mar 2015
DAILY SPREAD IN TURMERIC - NCDEX
Apr 2015
May 2015
MONTH
RATE
265
525
Apr 2015
9088
260
May 2015
9200
Jun 2015
9334
Apr 2015
May 2015
112
Jun 2015
246
134
Spread between Jeera MAR & APR contracts yesterday ended at Spread between Turmeric APR & MAY contracts yesterday ended
Rs.265, we have seen yesterday Jeera future had traded in a at Rs.112, we have seen yesterday Turmeric future had traded in
negative zone and settled -0.1% down.
a positive zone and settled 2.34% up.
DAILY SPREAD IN CARDAMOM - MCX
MONTH
RATE
Mar 2015
1143.7
Apr 2015
1121.2
May 2015
1114.1
Mar 2015
DAILY SPREAD IN REF.SOYA - NCDEX
Apr 2015
May 2015
MONTH
RATE
-22.5
-30
Apr 2015
598.55
-7.1
Jun 2015
577.4
Aug 2015
576.25
Apr 2015
Jun 2015
-21.15
Aug 2015
-22
-1.15
Spread between Cardamom MAR & APR contracts yesterday Spread between Ref.Soyaoil APR & JUN contracts yesterday
ended at Rs.-22.5, we have seen yesterday Cardamom future ended at Rs.-21.15, we have seen yesterday Ref.Soyaoil future
had traded in a negative zone and settled -0.24% down.
had traded in a negative zone and settled -1.32% down.
NEWS YOU CAN USE
It is expected wheat purchases by Madhya Pradesh and Rajasthan in the 2015-16 season will be 1.09 million tonnes (mt) and 0.35
mt less than in 2014-15, respectively. In the past few years, the two states have been at the fore of declaring a bonus over the
Centre-determined minimum support price (MSP). According to the state-wise target of wheat to be purchased from farmers during
the rabi marketing season, Madhya Pradesh is expected to purchase around six mt of wheat in 2015-16, against 7.09 mt in 201415. Rajasthan is likely to buy 1.8 mt, against 2.15 mt in the 2014-15 season. Wheat procurement by Punjab and Haryana is
expected to be higher in 2015-16 compared to 2014-15. Punjab is expected to purchase 12 mt of wheat, against 11.64 mt in 201415, while Haryana is likely to buy seven mt, against 6.45 mt in 2014-15. Last year, the government had decided to limit its wheat
and rice procurement from states declaring a bonus over the MSP to the extent needed for the Public Distribution System. The
Centre has fixed a target of purchasing 30.05 mt of wheat in the 2015-16 crop marketing season starting April, marginally less
compared to the target of 31 mt fixed in 2014-15 but about two mt more than the actual purchase of 28.02 mt in 2014-15. For
2014-15 (October-September), the government had fixed a procurement target of 35.10 mt, of which 30.05 mt is expected to be in
the kharif season.
India will not scale down its multi-billion dollar food welfare programme that promises ultra-cheap rice and wheat to most of its
people despite a high-level recommendation, a top government source said. A panel set up by Prime Minister Narendra Modi last
month urged the government to lower the number of beneficiaries to 40 percent from 67 percent as part of efforts to trim the
$18.64 billion food subsidy bill that drains stretched state finances. India, the world's biggest rice and wheat producer after China,
spends billions of dollars to ensure highly subsidised food for millions of the poor. But nearly half of the ultra-cheap rice and wheat
meant for the welfare programme is either stolen or wasted, straining government resources. Modi formed the panel in August to
suggest an overhaul of the theft-prone food distribution network. The food ministry is examining the report and will convey its
views to Modi for a final decision, said the source. The government is however looking into the other suggestions of the panel such
as cutting bureaucratic red tape in allowing rice and wheat exports from overflowing grain bins and strengthening grains
procurement from the eastern states.
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