Thursday, 24 May 2018

EPIC RESEARCH NCDEX CARDAMOM OF 24 MAY 2018

Cardamom trading range for the day is 926.3-970.1.

Cardamom settled up tracking firmness in spot demand and scattered export buying.

Reports of favourable weather conditions in the producing centres prevented stockists to make big purchases.

New produce supplies may commence by June end if weather continues to be favourable in the coming months.

Cardamom prices in spot market gained by 10.30 rupees and settled at 968.30 rupees. -
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EPIC RESEARCH NCDEX JEERA OF 24 MAY 2018


Jeera trading range for the day is 15505-16115.

Jeera prices ended with gains due to steady demand and lower stocks.

However jeera output is expected to be bumper and supplies are likely to increase in the coming days.

NCDEX accredited warehouses jeera stocks dropped by 15 tonnes to 1850 tonnes.

In Unjha, a key spot market in Gujarat, jeera edged up by 13.65 Rupees to end at 16050 Rupees per 100 kg.
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EPIC RESEARCH NCDEX TURMERIC OF 24 MAY 2018

Turmeric trading range for the day is 7142-7414.

Turmeric prices ended with losses tracking weakness in spot demand amid lower exports and increased supply from government auctions.

Supplies from the new season turmeric have been lower during first 21 days of May at 40,400 t (Vs 56,568 t) compared last year.

NCDEX accredited warehouses turmeric stocks gained by 119 tonnes to 5593 tonnes.

In Nizamabad, a major spot market in AP, the price ended at 7373.7 Rupees gained 4.25 Rupees.
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EPIC RESEARCH NCDEX MUSTARD SEED OF 24 MAY 2018


Rmseed trading range for the day is 3973-4049.

Mustard seed prices gained amid reports of lower mustard oil imports and improved meal exports.

As per latest SEA import data, mustard oil imports were down 14% on year in April which may lead to higher domestic crushing.

NCDEX accredited warehouses mustard seed stocks gained by 440 tonnes to 100862 tonnes.

In Alwar spot market in Rajasthan the prices gained 12.85 Rupees to end at 4025 Rupees per 100 kg.

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EPIC RESEARCH NCDEX CRUDE PALM OIL OF 24 MAY 2018

CPO trading range for the day is 665.7-673.1.

Crude palm oil prices traded in range amid lower tariff and higher stocks.

The base import price of crude palm oil was slashed to $655 per tn from $671 per tn.

Palm oil exports from Malaysia dropped 20% between May 1 and 20 compared with the corresponding period in April.
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EPIC RESEARCH NCDEX REF.SOYA OIL OF 24 MAY 2018

Ref.Soya oil trading range for the day is 772-790.

Ref soyoil dropped on profit booking after prices rose on reports that the government may increase import duty on soyoil by 10% to support prices.

As per the data from SEA, soyoil imports during the March dropped 49.9% to 115,102 tons compared to 229,853 tons in the same period a year ago.

Stocks of edible oil in ports and pipeline are estimated at 2.11 mt as on Apr 1 compared to 1.91 mt a year ago while lower than 2.197 mt in Feb, data showed.

At the Indore spot market in Madhya Pradesh, soyoil was steady at 762.3 Rupees per 10 kgs.

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EPIC RESEARCH NCDEX SOYABEAN OF 24 MAY 2018

Soyabean trading range for the day is 3705-3871.

Soyabean dropped on profit booking after prices gained amid expectation of better demand for crushing from oil mills as govt is planning to hike import duties.

EU 2017/18 soybean imports had reached 11.6 million tonnes by May 15, down 4 percent from 12.2 million tonnes a year earlier, official data showed.

NCDEX accredited warehouses soyabean stocks gained by 433 tonnes to 31583 tonnes.

At the Indore spot market in top producer MP, soybean gained 19 Rupees to 3805 Rupees per 100 kgs.
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EPIC RESEARCH NCDEX MENTHA OIL OF 24 MAY 2018


Menthaoil trading range for the day is 1218.6-1290.2.

Mentha oil spot at Sambhal closed at 1369.00 per 1kg. Spot prices was down by Rs.-49.70/-.

Mentha oil declined driven by subdued demand from consuming industries at the spot market.

Anticipation of bumper crop harvest and nearing of harvesting season also weighing on prices.

As per preliminary estimates, acreage under mentha crop will rise this year as the farmers are encouraged by higher price in recent past.

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EPIC RESEARCH MCX ALUMINIUM UPDATE OF 24 MAY 2018

Aluminium trading range for the day is 152.2-157.

Aluminium remained supported amid news that UC Rusal has not yet received any formal notice that sanctions target Oleg Deripaska has resigned from his board position.

China’s April scrap aluminium imports fell by 27.8 percent from March to 130,000 tonnes, after the country slapped a 25 percent import tariff on aluminium scrap.

China Jan-April scrap aluminium imports were down 11.4 percent year on year at 620,000 tonnes.
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EPIC RESEARCH MCX NICKEL UPDATE OF 24 MAY 2018

Nickel trading range for the day is 976.5-1013.3.

Nickel settled down trading below 1000 level tracking weakness from LME nickel which finished 0.9 percent lower at $14,650 a tonne.

LME nickel stockpiles are the lowest since 2014, underlining a deficit in the metal used for stainless steel.

The US slapped steep import duties on steel products from Vietnam that originated in China after a final finding they evaded US anti-dumping and anti-subsidy orders.

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