openPR Logo
Press release

Epic Research Daily Agri Commodity Report Of 24 May 2017

05-24-2017 11:22 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: Epic Research

Commodity News

Soybean futures traded lower on NCDEX as speculators trimmed
their positions due to reports of higher stocks of soybean with farmers
and traders. Soyabean prices also dropped by lower demand in spot
markets as 60 percent of soybean mills in Madhya Pradesh reported to
have shut down because of subdued demand for soymeal and lower
prices of soyoil. The contract for June delivery was trading at Rs
2788.00, down by 0.92% or Rs 26.00 from its previous closing of Rs
2814.00.

Turmeric futures edged down on NCDEX as participants reduced
exposure due to easing demand at the domestic spot markets. Further,
adequate stock position on increased supplies from the producing
regions too fuelled the downtrend. The contract for June delivery was
trading at Rs 5576.00, down by 1.34% or Rs 76.00 from its previous
closing of Rs 5652.00.

Jeera futures edged lower on NCDEX as speculators engaged in
trimming positions to book profits at prevailing levels amid lower
domestic and exports demand at the spot market. Furthermore, ample
stocks position following higher supplies from major growing regions
in Gujarat and Rajasthan too fuelled the downtrend. The contract for
May delivery was trading at Rs 18000, down by 0.61% or Rs 110.00
from its previous closing of Rs 18110.

Economic News

The agriculture ministry today said it has no reservations about GM
Urging the government to double the outlay of Rs 3,000 crore for
development and management of fisheries sector, apex industry body
Assocham on Tuesday said that India could achieve about 16 million
metric tonnes (MMT) of inland and marine fisheries’ production by 2019-
20 thereby adopting a target oriented approach to achieve eight per cent
growth year-on-year. “Aided by government’s efforts to bring systemic
changes in processing sector, the domestic segment in raw and processed
fisheries sector in value terms is expected to touch Rs 1.5 lakh crore by
2020 and total domestic retail market is forecast to cross Rs 61 lakh crore
or almost triple in next 4-5 years,” noted a just-concluded Assocham study
titled ‘Fisheries in India: Potential & prospects; Reference state – West
Bengal.’

Unveiling a three-year roadmap (2017-20) intended to take farm growth
to new heights, Union agriculture minister Radha Mohan Singh said on
Monday that foodgrain production in 2016-17 had broken all records.The
new crop year too would see record yields, he added, due to the
government's policy interventions, cooperation from states', and a normal
monsoon for the second consecutive year. Earlier this month, the ministry
had estimated foodgrain production for the 2016-17 crop year (July-June)
at 273.38 million tonnes (MT), which is over 8 MT higher than the
previous record, 265.04 MT in 2013-14, and 8.67% higher than last year's
foodgrain production.

Trading Recommendations

ELL CORIANDER APR BELOW 5150 TARGET 5120 5080 5030
SL ABOVE 5200
SELL TURMERIC MAYBELOW 5450TARGET 5420 5380 5330 SL
ABOVE 5500
BUY GUARGUM5 MAY ABOVE 7780 TARGET 7810 7850 7900
SL BELOW 7730

Epic Research Limited is a supreme level financial advisory services provider firm .We have designed services for different investors as per their needs like equity tips , ncdex tips, stock tips and many more to serve our clients. We offer regular services for investors with less capital and premium services for massive investors looking for higher returns on investments with bigger targets.
Want to take a FREE TRIAL? Visit our site link below and become a part of our Epic family. Happy trading.
http://www.epicresearch.co/
or
mail us @ info@epicresearch.co

Also you can Whatsapp us at :7049084664

Our Office:411 Milinda Manor, 2 RNT Road, Indore 452001 .

This release was published on openPR.

Permanent link to this press release:

Copy
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.

You can edit or delete your press release Epic Research Daily Agri Commodity Report Of 24 May 2017 here

News-ID: 548629 • Views: 220

More Releases from Epic Research

Epic Research Daily Agri Commodity Report Of 28 August 2018
Multi Commodity Exchange of India Ltd (MCX) has signed a Memorandum of Understanding (MoU) with Indian Cotton Federation (ICF).The MoU with MCXNSE 1.18 % will enable ICF’s members to effectively participate in the exchange’s knowledge-sharing initiatives to understand the benefits, techniques and strategies of risk management using cotton futures contracts. The agreement is further designed to facilitate potential collaboration in areas such as organising awareness events for cotton value chain
Epic Research Daily Agri Commodity Report Of 27 August 2018
Rapid heavy rain and floods in Coffee growing areas in Kerala have worsened the shortage of robusta beans, hitting hard exporters and local producers. The production of robusta, which accounts for majority of Coffee exports from the country and is the chief ingredient for instant Coffee, was last year 10-20% short of the Coffee Board’s projection of 2.21 lakh tonnes. The inclement weather is expected to pull down the crop
Epic Research Daily Agri Commodity Report Of 24 August 2018
The Directorate General of Foreign Trade (DGFT) has allowed import of yellow peas up to 125 tonnes, covering advance payment made early this year to sellers abroad. Importers traditionally make advance payment of up to 10 per cent of the value for contracts to be executed in the future. This got stuck with DGFT suspending all import of yellow peas without a Letter of Credit (LC), by an April 25
Epic Research Daily Agri Commodity Report Of 21 August 2018
India's Palm Oil imports are likely to fall 15% in 2017/18 from the year before to their lowest in six years, hit by a hike in import taxes, a weaker rupee and tighter credit for would-be buyers, industry sources said. Local prices moved up due to higher import tax and depreciation in the rupee. The price rise moderated demand for imports, the Solvent Extractors' Association of India (SEA) said. India

All 5 Releases