openPR Logo
Press release

Epic Research Daily Agri Commodity Report Of 08 DECEMBER 2017

12-08-2017 09:08 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, despite good demand as Soybean Processors Association of
India (SOPA) increased its estimates for meal exports for 2017/18.
Moreover, earlier government has increased export incentives by 2% for
all meals. Meanwhile, soybean prices rose at international markets as
concerns over dryness in Argentina. The contract for December delivery
was trading at Rs 3068.00, down by 0.94% or Rs 29.00 from its previous
closing of Rs 3097.00. The open interest of the contract stood at 51070
lots.

Jeera futures edged down on NCDEX, as market players eyed on further
technical correction due to encouraging jeera sowing progress in Gujarat.
Though, the export demand drive price to all-time highs coupled with
diminishing stocks with the traders capped further loss. The contract for
December delivery was trading at Rs 21470 .00, edged down by 0.53 % or
Rs 115.00 from its previous closing of Rs 21585.00. The open interest of
the contract stood at 9060 lots. The contract for January delivery was
trading at Rs 21520.00, declined by 0.62 % or Rs 135.00 from its previous
closing of Rs 21655.00. The open interest of the contract stood at 6087
lots on NCDEX.

Turmeric futures exhibit mixed trend on NCDEX, as December contract
advanced a little on increased demand , while April contract declined on
expectation of arrival of new season crop and on increased profit booking.
The contract for December delivery was trading Rs 7428.00, increased by
0.11 % or Rs 8.00 from its previous closing of Rs 7420.00. The open
interest of the contract stood at 2390 lots. While, the contract for April
delivery was trading down at Rs 7440.00, down by 0.05 % or Rs 4.00 from
its previous closing of Rs 7444.00. The open interest of the contract stood
at 7725 lots on NCDEX.

Economic News

Trade body Indian Sugar Mills Association (ISMA) has projected increase in
sugar off take and improvement in market sentiments in next few weeks as it
believes that the government has decided not to continue with stock holding
limit on traders beyond December 31. A release from the trade body said,
"Sugar season 2017-18 SS started with an opening balance of around 38.76 lac
tonnes, which is the lowest ever in the last several years. With an anticipated
normal sugar production of about 251 lac tonnes and imports of about 2.85
lac tonnes (of whites equivalent), the total availability of sugar in the current
season is estimated at 292.61 lac tonnes. Against this, domestic consumption
of sugar is estimated at around 250-252 lac tonnes (growth of around
2.5%) As such, the closing balance on 30th September 2018, is expected to be
about 40-42 lac tonnes i.e. almost equal to the opening balance of this year.“

With
a skyrocketing hike in vegetable prices, vendors and customers are
suffering vehemently. Onion and tomato prices in various parts of the country
are soaring and people have to spend as much as Rs 80 and Rs 50 for a kilo of
onions and tomatoes respectively. Speaking to ANI, Mehboob, a vegetable
vendor in Bhopal, said, "The prices of onions and tomatoes have hiked
recently, around Rs. 50 to Rs. 60 per kg. Earlier during the winter season, all
these vegetables were available at a very low rate. The supply of onions is
stooping down.“ The vegetable vendors said the sales have dropped
drastically and have, hence, blamed the lack of supplies and the Goods and
Service Tax (GST) for this. Another vendor, Sunil said, "Tomatoes are not being
supplied at a rate as earlier they used to. The hike in prices is due to low
supply.“ The consumers, on their part, have urged the government to
intervene in the matter. "Onion and tomatoes are the necessities for the
preparation of any meal, but prices of these vegetables are rising up. We
thought with the new government some positive changes will be witnessed,
but since 2014, there is no progress.

Trading Recommendations

BUY CORIANDER DEC ABOVE 5650 TARGET 5680 5680 5720 SL BELOW 5600
BUY TURMERIC DEC ABOVE 7460 TARGET 7490 7530 7580 SL BELOW 7410
SELL GUARGUM5 DEC BELOW 8500 TARGET 8470 8443 8380 SL 8550

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 , equity tips, agri 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 08 DECEMBER 2017 here

News-ID: 850966 • Views:

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


More Releases for NCDEX

Epic Research Daily Agri Commodity Report Of 12 JULY 2017
Commodity News Jeera futures edge lower on NCDEXJul 11,2017 02:40 Hrs IST Jeera futures edged lower on NCDEX amid lower domestic as well as exports demand at the spot market. Furthermore, ample stocks position following higher supplies from the producing belts too fuelled the downtrend. Reports showed that the jeera arrival in June is lower this year compared to May as well as June last year. The contract for July
Epic Research Daily Agri Commodity Report Of 06 JULY 2017
Commodity News Coriander futures edged higher on NCDEX as participants built up fresh positions on the back of rising demand in the spot market. Besides, limited arrivals from major producing belts also added support to coriander prices’ uptrend. The contract for July delivery was trading at Rs 4816.00, up by 1.2% or Rs 57.00 from its previous closing of Rs 4759.00. The open interest of the contract stood at 18720 lots. The
Epic Research Daily Agri Commodity Report Of 05 JULY 2017
Commodity News Turmeric futures traded higher on NCDEX on account of uptick in domestic as well export demand in the spot market. Further, anticipation of lower acreage during the current season in producing regions also added support to turmeric prices’ uptrend. The contract for July delivery was trading at Rs 6428.00, up by 0.25% or Rs 16.00 from its previous closing of Rs 6412.00. The open interest of the contract stood at
Epic Research Daily Agri Commodity Report Of 22 JUNE 2017
Commodity News Turmeric futures edged higher on NCDEX on rising physical demand at the spot market. Though, some gains were capped as the turmeric arrivals in the country are higher in the month of May. The contract for July delivery was trading at Rs 6022.00, up by 1.76% or Rs 104.00 from its previous closing of Rs 5918.00. The open interest of the contract stood at 14640 lots. The contract for
Epic Research Weekly Agri Commodity Report 19 JUNE 2017
Commodity News Turmeric futures showed mixed trend on NCDEX as the June contracts traded lower on reports of good rains in turmeric growing areas, while July contracts traded higher on pick-up in demand from stockists and overseas enquiries. The contract for June delivery was trading at Rs 5700.00, down by 0.35% or Rs 20.00 from its previous closing of Rs 5720.00. The open interest of the contract stood at 920
Epic Research Daily Agri Commodity Report Of 1 JUNE 2017
Commodity News Turmeric futures edged lower on NCDEX on fall in demand from upcountry and industrial buyers at the spot market. Though, some losses were capped as the turmeric arrivals in the country are lower in first 25 days of May at 58,309 tons compared to 1,14,737 tons during April (1-25). The contract for June delivery was trading at Rs 5280.00,down by 0.94% or Rs 50.00 from its previous closing