Epic Research Daily Agri Commodity Report Of 07 JUNE 2017

Commodity News

Coriander futures showed mixed trend on NCDEX as June contract
edged higher as speculators enlarged their holdings on the back of
improved demand in the spot market, while July contract edged lower
on rising arrivals from major producing belts. The contract for June
delivery was trading at Rs 4649.00, up by 0.28% or Rs 13.00 from its
previous closing of Rs 4636.00. The open interest of the contract stood
at 19210 lots. The contract for July delivery was trading at Rs 4731.00,
down by 0.36% or Re 17.00 from its previous closing of Rs 4748.00.
The open interest of the contract stood at 36790 lots on NCDEX.

Jeera futures edged up on NCDEX supported by increased buying
by retailers and stockists in the domestic spot market. Furthermore, fall
in supplies from producing belts also added support to jeera prices’
uptrend. The contract for June delivery was trading at Rs 18480.00, up
by 0.57% or Rs 105.00 from its previous closing of Rs 18375.00. The
open interest of the contract stood at 3870 lots. The contract for July
delivery was trading at Rs 18330.00, up by 0.52% or Rs 95.00 from its
previous closing of Rs 18235.00. The open interest of the contract
stood at 11910 lots on NCDEX.

Turmeric futures showed mixed trend on NCDEX as the June
contracts traded lower as the turmeric arrivals in the country are higher
in the month of May. Reports showed about 72,120 tons arrived in May
2017 compared to 30,703 tons during May last year, while July
contracts traded higher supported by increased buying by retailers and
stockists in the domestic market. The contract for June delivery was
trading at Rs 5310.00, down by 0.19% or Rs 10.00 from its previous
closing of Rs 5320.00. The open interest of the contract stood at 9000
lots. The contract for July delivery was trading at Rs 5372.00, up by
0.26% or Rs 14.00 from its previous closing of Rs 5358.00.

Economic News

The scientist who led the studies to develop a genetically modified,
higher yielding mustard is hopeful that the environment ministry will soon
grant permission for its commercial release. Deepak Pental said he has
already been approached by local seed companies to get licence for the GM
mustard that yields 30 per cent more than the current varieties. He expects
the cost of the seed to be affordable to farmers. The research was carried
out at Delhi University's Centre for Genetic Manipulation of Crop Plants. It
was funded by the Department of Biotechnology and National Dairy
Development Board. The National Academy of Agriculture Sciences, a
government-funded research body, has written to the Prime Minister
requesting him that the Centre accept the Genetic Engineering Appraisal
Committee (GEAC) recommendations and allow the release of GM
mustard to benefit farmers, consumers, national economy and the
environment. On May 11, the regulator for transgenic products, GEAC
under the environment ministry, recommended approval for commercial
production of GM mustard.

The Punjab government today gave in-principle approval to a pilot
project under which an Israeli company would provide technical knowhow
to farmers for boosting crop yield and farm income. The project would be
undertaken in collaboration with Israel-based farming solutions provider
ARNA. Punjab Chief Minster Amarinder Singh today gave in- principle
approval for the pilot project to provide affordable technical knowhow to
the state's beleaguered farmers for boosting their crop yield and income,
and facilitating crop diversification, an official spokesperson said. The
company would provide a state digital agriculture platform with a database
of all Punjab farmers, besides tracking their agriculture activities, such as
fertiliser usage, timely soil, water and tissue analysis. The project would be
aimed at enhancing crop quality and yield, thereby increasing their
capability to repay their debts, the spokesperson said. Earlier, in a
presentation to the Chief Minister, Arik Matlaw of ARNA said the
company would provide a comprehensive solution for balanced and
optimal use of fertilisers by the farmers.


Trading Recommendations

SELL CORIANDER APR BELOW 4600 TARGET 4570 4530 4480
SL ABOVE 4650
BUY TURMERIC MAY ABOVE 5400 TARGET 5430 5470 5520
SL BELOW 5350
SELL GUARGUM 5 MAY ABOV BELOW 7100 TARGET 7070
7030 6980 SL ABOVE 7150

Epic Research Limited is a supreme level financial advisory services provider firm .We have designed services for different investors as per their needs like mcx 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.