Epic Research Daily Agri Commodity Report Of 22 FEBRUARY 2018

Commodity News

Tamil Nadu Agricultural University has advised farmers to take up sowing of Sesame in large scale. Researchers at the Centre for Agricultural and Rural Development Studies (CARDS), and Tamil Nadu Agricultural University after analysing the price movement said that succeeding season would be favorable for sowing Sesame. During the last season, the area under Sesame was less compared to the normal area owing to delayed/extended monsoon but the demand for Sesame swelled. About 65 percent of the annual Sesame crop is processed into edible oil and 35 percent used in confectionaries.

India's non-basmati Rice exports during the first nine months of the current fiscal have registered a growth of 40% in volumes at 6.338 million tonnes and 46% increase in value terms at Rs 16,803 crore over corresponding period last year thanks to strong demand from neighbours Bangladesh and Sri Lanka, and steady off-take from traditional buyers in Africa. Besides, the depleted stock levels in Thailand - a major exporter - has helped India gain and consolidate its share in the global market, trade sources said. Non-basmati Rice shipments, after reaching a record 8.274 million tonnes in 2014-15, had dropped in the subsequent year to around 6.464 million tonnes. However, over the past couple of years, the Indian shipments have staged a rebound.

The Consortium of Pepper Growers Organisation, Karnataka, Kerala and Tamil Nadu has urged the government to levy 54% duty on imports from Sri Lanka under SAFTA and scrap the Indo-Sri Lankan Free Trade Agreement quantity of 2,500 tonnes. “Pepper production in Sri Lanka has increased substantially from the days of implementation of these trade agreements and other origin Pepper is entering the country with Certificate of Origin issued by Sri Lankan authorities,” the Consortium said. Data from various ports (Cochin Sea Port, Mundra Sea Port, Nava Sheva Sea Port,Chennai Sea Port and Bangalore ICD as well as Tughlakabad ICD) show a total of 2,212 tonnes of Pepper have been imported in January.

Economic News

Commercial floriculture exports are growing at 20% per annum, despite hurdles like currency fluctuations, the industry has demanded reduction in GST on greenhouse materials from 18% to 12%. The 13th International Flora Expo 2018 will be held from 23-25 February at Pimpri near Pune. According g to industry leaders floriculture promises to be a Sunrise industry with Good growth prospects for Exports, Innovations and Employment. There could never a better time to stay invested in floriculture than now as this industry is geared for an all-round boost in terms of healthy exports, innovations and most importantly employment generation. S Jafar Naqvi, President, iFlora (Indian Flowers and Ornamental Plants Welfare Association) said, “The Domestic flower trade has seen a huge upswing both in terms of volumes and value over the past decade, owing to cultural and seasonal factors, floriculture has turned into one of the vital commercial trades in Agriculture.

The government today said a professional team will be put in place by next month to fast- track the implementation of Pradhan Mantri Fasal Bima Yojana (PMFBY) and increase the coverage under the scheme to 50 per cent of the gross cropped area in 2018-19. To address various gaps in PMFBY, the agriculture ministry has modified the guidelines which would be released nextfortnight. The current portal has also been upgraded with new features, it added. PMFBY was launched in 2016 under which farmers pay very nominal premium and get full claim for damages. The scheme is being implemented in 25 states. "There has been good response to the scheme. The coverage has increased. But there is more to be done. Efforts are being made to ensure more farmers take benefit of the scheme," Minister of State for Agriculture Gajendra Singh Shekhawat said at a Ficci-organised event here. So far, 30 per cent of the cropped area has been insured but the target is to achieve 50 per cent next year, he said while urging states to cooperate in this endeavour.

Trading Recommendations

BUY CORIANDER APR ABOVE 5600 TARGET 5630 5670 5720 SL BELOW 5550
BUY TURMERIC APR ABOVE 7040 TARGET 7070 7110 7160 SL BELOW 6990
SELL GUARGUM5 FEB BELOW 9570 TARGET 9540 9500 9450 SL 9820

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This release was published on openPR.