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Epic Research Daily Agri Commodity Report Of 25 September 2017

PressReleasePing - September 25, 2017 -Commodity News Jeera futures edged down on NCDEX on easing demand from retailers and stockists at the spot market. Besides, ample stocks position following higher supplies from the producing regions too fueled the downtrend. The contract for October delivery was trading at Rs 19640.00, down by 0.08% or Rs 15.00 from its previous closing of Rs 19655.00. The open interest of the contract stood at 12903 lots. The contract for November delivery was trading at Rs 19590.00, down 0.23% or Rs 45.00 from its previous closing of Rs 19635.00. The open interest of the contract stood at 3147 lots on NCDEX. Turmeric futures edged lower on NCDEX on rising arrivals from the producing belts. Though, some losses were capped on expectation of fresh upcountry demand at the spot market. The contract for October delivery was trading at Rs 7376.00, down by 0.22% or Rs 16.00 from its previous closing of Rs 7392.00. The open interest of the contract stood at 9205 lots. The contract for November delivery was trading at Rs 7406.00, down 0.51% or Rs 38.00 from its previous closing of Rs 7444.00. The open interest of the contract stood at 2335 lots on NCDEX. Coriander futures traded higher on NCDEX as participants widened their positions amid rising demand in the spot demand. Besides, low stocks position on fall in supplies from major producing regions also added support to coriander prices’ uptrend. The contract for October delivery was trading at Rs 4904.00, up by 0.2% or Rs 10.00 from its previous closing of Rs 4894.00. The open interest of the contract stood at 33310 lots. The contract for November delivery was trading at Rs 5165.00, up by 0.49% or Rs 25.00 from its previous closing of Rs 5140.00. The open interest of the contract stood at 10450 lots on NCDEX. Economic News Cashew exporters have once again sought withdrawal of duty on import of raw cashew, pushed by the delay in refund of integrated general sales tax (IGST) on imports which has hit their working capital and operations. The shortage in working capital comes at a time when exporters are seeing a jump in demand for cashew kernel. India meets over half of its raw cashew requirement for processing and export from overseas. Since July, exporters have been paying 5% IGST in addition to the 5% duty charged on raw cashew arriving from countries like Ivory Coast and Ghana, which account for the bulk of shipments to India, but have not received IGST refund even after completing exports. “We have to pay around Rs 40 lakh as IGST for taking 500 tonnes of imported raw cashew for export. Those who have completed export haven’t got the refund, which has affected our operations,’’ said P Somarajan, proprietor of Kailas Cashew Exports. Prime Minister Narendra Modi today asked cooperatives to venture into new business areas like beekeeping and seaweed farming to help farmers double their income by 2022 and boost the rural economy. Addressing the birth centenary of Maharashtra-based cooperative leader Laxman Madhav Rao Inamdar, the Prime Minister said: "It is natural for the cooperative sector to grow and shine in India. There are several sectors where the cooperative sector can help make a positive difference.“ He asked cooperatives to assess how farmers' income can be doubled by 2022 through their movement. "See what best practices to adopt and give up the old ones and move ahead," he said, while asserting that rural India should not be left behind in the growth path. Stating that farmers are facing many problems, Modi said there is a need to establish a system to ensure farmers buy and sell at wholesale rates. "Today, farmers buy at retail rate and sell (their produce) at wholesale rates. Can it be reversed?. If they buy (inputs) at wholesale rates and sell at retail price, then nobody can loot them, not even middlemen," he said. Trading Recommendations BUY CORIANDER OCT ABOVE 4700 TARGET 4730 4770 4820 SL BELOW 4650 SELL TURMERIC OCT BELOW 7350 TARGET 7320 7280 7130 SL ABOVE 7400 BUY GUARGUM5 OCT ABOVE 8030 TARGET 8060 8070 8120 SL BELOW 7980 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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