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Epic Research Daily Agri Commodity Report Of 04 September 2017

PressReleasePing - September 04, 2017 -Commodity News Jeera futures edged lower on NCDEX on fall in demand at the spot market. Though, some losses were capped due to loss of stored jeera by heavy rains in Gujarat. The contract for September delivery was trading at Rs 19725.00, down by 0.73% or Rs 145.00 from its previous closing of Rs 19870.00. The open interest of the contract stood at 12690 lots. The contract for October delivery was trading at Rs 19560.00, down by 2.13% or Rs 425.00 from its previous closing of Rs 19985.00. The open interest of the contract stood at 8493 lots on NCDEX. Soybean futures exhibited mixed trend on NCDEX as the October contracts traded higher on expectation of good crushing demand and lower acreage in the country, while November contracts traded lower on reports of good imports of edible oil in the country in July are keeping higher stocks. The contract for October delivery was trading at Rs 3071.00, up by 0.16% or Rs 5.00 from its previous closing of Rs 3066.00. The open interest of the contract stood at 47550 lots. The contract for November delivery was trading at Rs 3093.00, down by 0.13% or Rs 4.00 from its previous closing of Rs 3097.00. The open interest of the contract stood at 36900 lots on NCDEX. Coriander futures edged down on NCDEX as participants cut down their positions amid easing domestic as well as export demand in the spot market. Further, rising arrivals from major growing regions also influenced coriander futures. The contract for September delivery was trading at Rs 4900.00, down by 0.81% or Rs 40.00 from its previous closing of Rs 4940.00. The open interest of the contract stood at 20930 lots. The contract for October delivery was trading at Rs 5096.00, down by 0.49% or Rs 25.00 from its previous closing of Rs 5121.00. The open interest of the contract stood at 26120 lots on NCDEX. Economic News Major Indian palm oil producers are looking to expand palm tree acreage in north-eastern states, primarily lured by conducive weather and government support. Companies like Ruchi SoyaBSE 1.56 %, Godrej Agrovet and 3F Oil Palm were among several companies that started operations in the Northeast over the past couple of years. They are now looking to expand the presence. The expansion drive also comes on the back of states like Arunachal Pradesh and Mizoram starting to zonalise areas for palm plantation. This is part of an increasing push from the central and state governments for higher domestic oil production in a bid to reduce dependence on imports. India imports 70% of its oil requirements. According to Care Ratings, the country is the world’s largest importer of edible oil, with most of the supplies coming from Indonesia and Malaysia. Palm oil accounts for nearly 60% of edible oil imports. The Indian soyabean crushers’ industry is expecting greater strain on margins this fiscal on account of the highest ever increase in minimum support price of 10% for soyabean over the last couple of years. According to industry representatives and sector analysts, the crushers are finding it difficult to pass on the entire burden to their customers fearing loss of business, resulting in strain on profit margins. While several units have already shut down over the past couple of years owing to unviable operations, they say, the industry may see more shut downs this year as well. India produces around 6.2 million tonnes of soya oil meal, of which 5 million tonnes is consumed domestically as both food and fodder while the rest is exported. According to Arindam Saha, associate director, Care Ratings, soya oil meal constitutes over 50% of the total oil meal exports from India. Davish Jain, chairman, Soyabean Processors Association of India (SOPA), said, “The industry is likely to suffer from the near 10% increase in MSP and lower de-oiled cakes prices internationally. Trading Recommendations BUY CORIANDER ABOVE 4900 TARGET 4930 4970 5020 SL BELOW 4850 SELL TURMERIC BELOW 7430 TARGET 7400 7360 7310 SL ABOVE 7480 BUY GUARGUM5 ABOVE 8150 TARGET 8180 8220 8270 SL BELOW 8100 Epic Research Limited is a supreme level financial advisory services provider firm .We have designed services for different investors as per their needs like mcx tips , equity tips, agri tips and many more to serve our clients. We offer regular services for investors with less capital and premium services for massive investors looking for higher returns on investments with bigger targets. Want to take a FREE TRIAL? Visit our site link below and become a part of our Epic family. Happy trading. http://www.epicresearch.co/ or mail us @ info@epicresearch.co Also you can Whatsapp us at :7049084664 Our Office:411 Milinda Manor, 2 RNT Road, Indore 452001 .


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