Epic Research Daily Agri Commodity Report Of 26 DECEMBER 2017

Commodity News

Indian pepper prices have moved up by Rs 75 per kg in the past two
weeks to Rs 450 per kg with the government imposing a minimum import
price on the commodity, traders said. However, processors and exporters of
pepper products alleged that the move would harm the trade and lead to
shifting of units to countries like Sri Lanka. India is the largest consumer of
pepper in the world and the second largest producer after Vietnam. The
Union government approved the proposal of the state-run Spices Board as
cheaper imports of pepper is seen putting pressure on the domestic market.
Traders are also wary of higher imports into India via the FTA route and by
means of under-invoicing.

The government on Thursday said it has imposed 30% import duty on
chana (chickpeas) and masoor (lentils) with immediate effect to avoid
cheap imports given the prospects of high production during the
forthcoming Rabi season. The government may also effect a further hike in
import duty on wheat from the current 20%. Last month, the government
had doubled the import duty on the cereal to curb cheap shipments and give
positive price signal to farmers in the Rabi season. Currently, tur and
yellow peas attract 10% and 50% import duty respectively while other
pulses attract zero import duty.

Strawberry growers in Maharashtra say that the season of 2017 is tough.
This could probably be the worst season for growers with 90% of the fruit
rotting due to excessive rains, top officials of the Strawberry Growers
Association of India (SGAI) said. Last year, the late arrival of winter hit
strawberry production but this season most of the produce is damaged due
to fluctuating climate and unseasonal rains through the last month.
According to Balasaheb Bhilare, president of SGAI, farmers are forced to
throw away 90% of the produce because of excess water. Only 10-15% of
the harvested crop is good enough to sell, he said.

Economic News

Soumya Dayakar, an organic farmer, who runs Samruddhi Farm in
Doddaballapura, was buying organic compost from a government outlet until
she realised that the quality was not up to the mark. That's when she chanced
upon Purva Venezia, a gated community in Yelahanka New Town, which had
surplus organic compost to offer. Dayakar travels 35 km to buy the compost
from them and she does not mind. Composting is not an easy task. Especially
for communities that have very little or no support from the city corporation
for setting up the infrastructure, facilitating daily operations or distributing it
to the end user, the farmer. This in turn leads to the farming community using
cheap chemical alternatives. "The government needs to reduces subsidies on
harmful chemical fertilisers and instead divert it towards organic composts to
encourage more communities in the city to take this up as a social initiative,"
says Wilma Rodrigues, founder, Saahas Zero Waste, a city-based waste
management company.

The number of surface flow minor irrigation schemes dropped by nearly
9,000 in seven years since 2006-07, resulting in growing dependence on
groundwater for agricultural purposes, a government census has
found. According to recently released fifth minor irrigation schemes census,
"The number of surface flow minor irrigation schemes has declined from
6,01,000 in 2006-07 to 5,92,000 in 2013-14." These schemes are located in
Maharashtra, Karnataka, Madhya Pradesh, Andhra Pradesh, Jharkhand, Tamil
Nadu and Uttarakhand and irrigate about 4.89 million hectare of land, the
census has found. Under the scheme, rainwater is used for irrigation by
storing or by diverting it from a river, stream or nala. While permanent
diversions are constructed for utilising the flowing stream or river water in
some areas, temporary diversions are also constructed somtimes that get
washed away during the rainy season.

Trading Recommendations

BUY CORIANDER DEC ABOVE 5790 TARGET 5820 5860 5910 SL BELOW 5740
BUY TURMERIC APR ABOVE 7880 TARGET 7910 7950 8000 SL BELOW 7830
SELL GUARGUM5 DEC BELOW 8800 TARGET 8770 8730 8680 SL 8850

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This release was published on openPR.