Epic Research Daily Agri Commodity Report Of 19 DECEMBER 2017

Commodity News

Cumin or jeera futures have been hitting new peaks despite higher
acreage in the main growing states and sluggish demand in export
markets, indicating speculative hoarding by big players. The contract for
delivery in December has jumped more than 15% on the National
Commodity and Derivatives Exchange (Ncdex) over the last couple of
weeks. It touched a high of Rs 221.45 per kg on Tuesday before slipping to
Rs 219.80. The contract for delivery in January rose 10% to Rs 214.60 a kg.

The government raised import duties on various edible oils on
November 17, which is supporting the entire oil pack. Refined soya oil,
crude palm oil, soyabean and rape mustard seeds witnessed gains
between 4-7 per cent in a week’s time. Soyabean futures contract also
traded at a two-month high on NCDEX. Soyabean December contract
closed at Rs 2,999 per quintal, which is almost closer to the government’s
minimum support price (MSP) of Rs 3,050 per quintal. Traders and farmers
were demanding for a revision in the duty for a long time to support falling
prices, but this decision came late by almost two months. Still, this is a
good move from the government’s side, as this will not only support the
entire edible oil industry, but farmers also to a large extent.

Castor seed futures on National Commodities and Derivatives Exchange
(NCDEX) witnessed the highest single day jump on Wednesday since
March this year supported by highest ever monthly export volume of
castor meal and reports of crop damage due to heavy rains in Gujarat. The
benchmark castor seed contract on NCDEX for September delivery was up
more than 3.21 % or Rs 147 today to trade at Rs. 4,727 per quintal, its
highest level in four and half months. India's castor meal exports in June
was revised to 1,19,315 tonnes from 62,516 tonnes in data released by
the Solvent Extractors' Association of India (SEA) recently.

Economic News

India's sugar production rose 30 per cent to 69.4 lakh tonne during the first
two and half months of the current marketing year on higher cane output,
according to industry body ISMA. Sugar marketing year runs from October to
September. Mills have produced 69.40 lakh tonne of sugar till December 15 of
the 2017-18 marketing year as compared to 53.46 lakh tonne in the
corresponding period of the previous year, Indian Sugar Mills Association said
in a statement. As on December 15, 2017, 469 sugar mills were crushing
sugarcane for the year 2017-18 against 449 mills last year same time, it
added. ISMA has pegged sugar output of India, the world's second largest
producer, at 251 lakh tonne in 2017-18 against 203 lakh tonne in the previous
year. As per the data, mills in Maharashtra have produced 25.50 lakh tonne of
sugar till December 15, up from 17.25 lakh tonne in the year-ago period.

India's
dairy industry is expected to maintain 15 per cent compounded
annual growth (CAGR) over 2016-20, and attain value of Rs 9.4 trillion on
rising consumerism, a report said. "India's dairy industry is worth Rs 5.4 trillion
by value, having grown at 15 per cent CAGR during 2010-16. Going ahead, the
dairy industry is expected to maintain 15 per cent CAGR over 2016-20, and
attain value of Rs 9.4 trillion on rising consumerism," Edelweiss Securities said
in a report. India has progressed from being deficient in milk production at 20
million MT in 1970 to becoming the world's largest milk producer at 160
million MT, accounting for 18.5 per cent of global milk production. Further,
India is expected to emerge as the largest dairy producer by 2020, the report
said. The Union government implemented the Central Scheme National Dairy
Plan - Phase 1 during 2012-17 to improve productivity of dairy cooperatives
through several input activities. Investments by private players in the
domestic dairy sector is also expected to further augment milk productivity, it
explained.

Trading Recommendations

BUY CORIANDER DEC ABOVE 5570 TARGET 5600 5640 5690 SL BELOW 5520
BUY TURMERIC APR ABOVE 7560 TARGET 7590 7630 7680 SL BELOW 7510
SELL GUARGUM5 DEC BELOW 8470 TARGET 8500 8540 8590 SL 8420

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This release was published on openPR.