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Epic Research Daily Agri Commodity Report Of 18 April 2017

PressReleasePing - April 18, 2017 -Commodity News Jeera futures traded higher on NCDEX on rising demand at the spot market. Though, some gains were capped on ample stocks position following higher supplies from the major growing regions in Gujarat and Rajasthan. The contract for May delivery was trading at Rs 19455, up by 2.37% or Rs 450.00 from its previous closing of Rs 19005. The open interest of the contract stood at 18153 lots. Soyabean futures traded marginally higher on NCDEX on account of uptick in demand and tighter supplies in the domestic market. Soyabean prices improved further tracking higher prices in international markets as forecasts of heavy rains in parts of the US Midwest are expected to delay fieldwork. The contract for April delivery was trading at Rs 2940.00, up by 0.38% or Rs 11.00 from its previous closing of Rs 2929.00. Turmeric futures traded down on NCDEX as participants reduced exposure amid sufficient stocks position on pick-up in arrivals from producing belts at spot market. The contract for April delivery was trading at Rs 6034.00, down by 2.24% or Rs 138.00 from its previous closing of Rs 6172.00. Economic News Within a fortnight of UP's farm loan waiver and calls for the same in other states, a foreign brokerage today estimated the burden from such populist measures to touch 2 per cent of GDP by the 2019 elections. "Farm loan waivers of up to 2 per cent of GDP in the run up to the 2019 hustings pose fiscal/rate risk and impacts credit culture," analysts at Bank of America Merill Lynch said in a note today. They said the Yogi Adityanathgovernment's debt waiver of USD 5 billion or 0.4 per cent of the state GDP, will lead other states to follow such populist suit. Even though the Centre has asked the states to take care of its finances while declaring such schemes, the note said the states will continue to be in breach of the indicative 3-3.5 per cent fiscal deficit numbers. India, the world’s second-biggest consumer of urea, is boosting production of the crop nutrient seeking to end imports in the next five years. The South Asian nation, where agriculture makes up about 14 percent of the economy, produced 24.5 million tons of urea in the year ended March 2016, compared with consumption of around 32 million tons during the period, according to data from the fertilizer ministry. The country imported more than a quarter of what it consumed from Oman, China and Iran. “We are in the process of reviving ailing plants, restart closed units, expand existing projects and build new ones,” Dharam Pal, joint secretary at India’s fertilizer ministry, said in an interview in New Delhi. Trading Recommendations SELL CORIANDER APR BELOW 6870 TARGET 6840 6800 6740 SL ABOVE 6970 SELL TURMERIC MAYBELOW 6034 TARGET 6000 5950 5890 SL ABOVE 6060 BUY GUARGUM APRABOVE 8530 TARGET 8560 8500 8560 SL BELOW 8500 Epic Research Limited is a leading financial advisory services provider firm . We have a team of dedicated experts who are having good knowledge of share market. Our wide range of services includes : ncdex tips, stock tips, equity tips, forex tips and other stock market trading tips. To avail a quick free trial of our services call : +91 731 6642300. Also you can Whatsapp us at :7049084664 Our Office:411 Milinda Manor, 2 RNT Road, Indore 452001 . For details of our services visit : http://www.epicresearch.co/ or mail us @ info@epicresearch.co

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