Daily Agri Ncdex Market News By Epic Research - 15th April 2014

INDORE, India - April 15, 2014 - PRLog -- AGRI COMMODITY DAILY WRAP UP

TURMERIC FUTURE

India exported 50500 tonnes of turmeric for Rs.408.28 crore during April-November 2013, up 11 percent and 41 percent

respectively in volume and value of exports over the same period last year. The Nizamabad market remained closed from

Mar 28 to Apr 2 for the financial year end.

MENTHA OIL FUTURE

In menthaoil no major domestic demand and export cues are being noticed. beside this, the change in the arrivals pattern

is further weighing on market sentiments. As the sowing is close to completion, farmers are willing to offload their

holding stocks. However, concerns over the carryover stocks are still persisting because most of the carry forward stocks

are with local stockists who are reluctant to sell their stocks due to the current price trend. We feel that the increase in

supply from farmers coupled with the sluggish demand might pressurize mentha oil prices further.

CHANA FUTURE

Chana futures are expected to trade on a negative note today. Good sowing reports from MP, UP and Rajasthan amidst high stocks, rise in imports and fall in demand have pressurized Chana rates for last few months. As per ministry of Agriculture reports, sown area for Rabi Pulses is projected at a record high 16.2 million. Significant improvement in yield to move above 900kg/ha was also possible due to conducive weather.

JEERA FUTURE

Jeera futures are expected to trade lower due to selling pressure as arrivals of the new crop are rising sharply in spot markets. The off take is likely to remain limited due to expectation of high output on significant rise in sowing. However, expectations of pick up in export may limit sharp fall in prices. As per the latest data by Gujarat Agriculture Board, total acreage of jeera in the state has been increased by 1.05 lakh hectares from the last year to 4.54 lakh hectares. Traders estimated that total production of jeera is likely to increase by 10 lakh bags to around 46 lakh bags in the current year.

DHANIYA

BUY DHANIYA MAY ABOVE 9665 TGTS 9695,9745 SL 9615

SELL DHANIYA MAY BELOW 9550 TGTS 9520,9470 SL 9600

GUARSEED

BUY GUARSEED MAY ABOVE 4770 TGTS 4800,4850 SL 4720

SELL GUARSEED MAY BELOW 4700 TGTS 4670,4620 SL 4750E

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