Epic Research Daily Agri Commodity Report Of 8 May 2018

The Potatoes arrived in markets till now were from farmer's storage, which has now exhausted. The crop have started to arrive from the cold storage which have caused the price rise by 25 percent in West Bengal. Potato prices have increased in most of the city market between Rs.18 and Rs.20 per kg as against Rs.14-15 since the beginning of the week. For every kilogram of Potato coming out of the cold storages, there will an additional price load of Rs.4-5 per kg due to the cost involved in storage. The price rise is not due to reduced production of Potato in Bengal which was at about 100 lakh tonnes, 10 percent lower than previous year's yield. Crisis in availability of labourers of cold storage has also led to the price rise.

The Odisha government has directed procurement agencies Markfed and Nafed to complete the procurement of pulses and oil seeds by July 04 and to ensure that procurment is made from genuine farmers at the designated centres set up by the district administration concerned. The State has set a target to procure 12,520 tonne of Green Gram (Moong), 4,900 tonne of Black Gram (Urad), 13,480 tonne of Groundnut pods (Shelled Groundnut) and 1,500 tonne of Sunflower Seeds during the current rabi season besides 4,400 tonne of Arhar produced during kharif season. While the minimum support price (MSP) for Green Gram has been fixed at Rs 5,375 per quintal, Black Gram is Rs 5,200 per quintal, Red Gram Rs 5,250, Groundnut pods Rs 4,250 and Sunflower Seed Rs 4,000 per quintal.

The Union government has extended the restriction on import of Urad and Moong dal across all varieties to cover split and other forms to stabilise domestic prices. “Import policy of Urad and Moong in split and other forms…..are also restricted in addition to Urad and Moong ….with annual import quota of 3 lakh tonne for all,” said a notification by the Directorate General of Foreign Trade. While the government had restricted import of raw or whole Moong and Urad in a notification dated August 21, 2017, no such restriction on splits or dal (milled) was specified.

Economic News

Every summer, the stories are as seasonal as the fruit. As Alphonso mangoes flood Mumbai markets in May, so too do allegations of them being toxic due to artificial ripening with calcium carbide. This year, it was kicked off by a widely circulated video shot in the Vashi wholesale market. A man is shown packing a box with green mangoes and then spraying them. In an accompanying message, the person who shot the video writes that labourers say all mango brokers used “carbide” to ripen the fruit and earn money faster: “All consumers are paying a premium price for purchasing the fruit and are buying „Poison‟ from fruit markets.” Soon after, raids from the Food and Drug Administration seized 109 dozens of mangoes to test for chemicals. A media report quoted doctors warning about “dizziness, headache, skin burning, allergy, vomiting and diarrhoea, to name a few” which could result from eating mangoes ripened using chemicals. Sometimes, the actions go beyond warnings: last year, a magistrate in Wardha sentenced a fruit seller to a year in jail for chemically induced ripening.

Maharashtra Chief Minister Devendra Fadnavis today said that the state had maximum agricultural production during the kharif season of 2017-18, despite 30 per cent less rainfall, due to effective water conservation schemes of the state government. Fadnavis said that farm production during last year was "historically positive" and was similar to the record one in 2012-13 that was aided by the state receiving 110 per cent of its average rainfall. "Last year, there was 30 per cent less rain but we had maximum production like in 2012-13. This is because of effective water conservation schemes like Jalyukt Shivar which helped to improve soil moisture and also provide irrigation," Fadnavis said. "We have seen historically positive agriculture growth rate with our all round efforts. In spite of 30 per cent less rainfall last year, we could manage well due to our efforts for sustainable irrigation and an investment-based approach," he added. He said that the meteorological department had predicted a satisfactory monsoon this year with a forecast of 92-110 per cent of the average rainfall.

Trading Recommendations

BUY CORIANDER MAY ABOVE 4800 TARGET 4830/4870/4920 SL 4750
BUY TMC MAY ABOVE 7650 TARGET 7680/7720/7770 SL 7600
BUY GUARGUM5 MAY ABOVE 8370 TARGET 8400/8440/8490 SL 8320

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