Friday, 21 April 2017

EPIC RESEARCH NCDEX COTTON UPDATE OF 21 April 2017

Cotton trading range for the day is 20863-21503. Cotton prices gained due to rising demand from traders and stockists at the spot market. Prices also seen supported on probability that the El Nino phenomenon may occur during second half of monsoon month which may affect cotton yield. As per CAI, cotton crop estimate for the ongoing cotton season at 340.50 lakh bales of 170 kgs each. Cotton prices in spot market gained by 80.00 rupees and settled at 20720.00 rupees.

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EPIC RESEARCH NCDEX CARDAMOM UPDATE OF 21 April 2017

Cardamom trading range for the day is 1148.2-1202. Cardamom settled flat as prices pared gains which seen earlier taking positive cues from spot market on rising demand. The production and export of cardamom, has been increasing over the past three years. Despite competition from Guatemala, the largest producer of cardamom, there are good days for cardamom sector in the country Cardamom prices in spot market dropped by 36.00 rupees and settled at 1234.00 rupees.

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EPIC RESEARCH NCDEX MAIZE UPDATE OF 21 April 2017

Maize trading range for the day is 1526-1558.Maize gained tracking firmess in spot demand despite of pressure in overseas prices amid plentiful global supply .The U.S. Department of Agriculture (USDA) said the U.S. corn crop was 3 percent seeded by April 9, matching the five-year average. NCDEX accredited warehouses maize stocks dropped by 31 tonnes to 1618 tonnes. In Nizamabad maize spot prices dropped -3.9 Rupees to 1511.65 Rupees per 100kgs.

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EPIC RESEARCH NCDEX JEERA UPDATE OF 21 April 2017

Jeera trading range for the day is 19075-19735. Jeera dropped on late profit booking after prices seen supported amid rising domestic and export demand. As per third advance estimates for 2016/17, production of Jeera in Gujarat revised down to 2.12 lt, down 4% from its 2nd estimates. NCDEX accredited warehouses jeera stocks gained by 21 tonnes to 894 tonnes. In Unjha, a key spot market in Gujarat, jeera edged down by -60.25 Rupees to end at 19021.9 Rupees per 100 kg.

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EPIC RESEARCH NCDEX TURMERIC UPDATE OF 21 April 2017

Turmeric trading range for the day is 6054-6210. Turmeric prices ended with gains as support seen due to rising exports demand at the spot market. At Nizamabad market arrivals were reported at 15000 quintals, lower by 3000 quintals as against previous day. NCDEX accredited warehouses turmeric stocks dropped by 318 tonnes to 3208 tonnes. In Nizamabad, a major spot market in AP, the price ended at 5800 Rupees dropped -50 Rupees.

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EPIC RESEARCH NCDEX RM SEED UPDATE OF 21 April 2017

Rmseed trading range for the day is 3798-3840. Mustard seed prices gains tracking firmness in spot demand on short covering after prices dropped on oversupply woes in local mandis.Good weather and increase in MSP, which attracted farmers to plant higher mustard, resulted into record crop of over 71.09 lakh tonnes. NCDEX accredited warehouses mustard seed stocks gained by 1229 tonnes to 18536 tonnes. In Alwar spot market in Rajasthan the prices dropped -12.85 Rupees to end at 3754.65 Rupees per 100 kg.

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EPIC RESEARCH NCDEX CRUDE PALM OIL UPDATE OF 21 April 2017

CPO trading range for the day is 507.6-521. Crude palm oil prices ended with gains on lower level buying by the market participants. Malaysia palm oil output in March rose 16.3% on month while market also forecast rising output data from the Indonesia. Moreover, government lowered the base import price of CPO by $22 to $725 per tonnes for 2nd half of April, their 5th consecutive fortnightly decline. Crude palm oil prices in spot market gained by 1.50 rupees and settled at 519.10 rupees.

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EPIC RESEARCH NCDEX REFINED SOYA OIL UPDATE OF 21 April 2017

Ref.Soya oil trading range for the day is 615-629. Ref soyoil ended with gains on short covering as there is steady demand in the domestic market from the stockists. As per SEA data, soy oil imports for March down more than 28.5% Y/Y to 2.3 lt and down 8.7 lt m/m. NOPA said its members crushed 153.060 million bushels during March, up from 142.792 million bushels in February. At the Indore spot market in Madhya Pradesh, soyoil was steady at 625 Rupees per 10 kgs.

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EPIC RESEARCH NCDEX SOYABEAN UPDATE OF 21 April 2017

Soyabean trading range for the day is 2966-3100. Soyabean prices gained as supplies are diminishing but the demand for crushing is intact due to encouraging soy meal exports. As per data, arrivals of soybean during Apr 1-15 are 120,423 while during in Mar it was about 1,64,286 tonnes during same time frame. NCDEX accredited warehouses soyabean stocks dropped by 664 tonnes to 170780 tonnes. At the Indore spot market in top producer MP, soybean gained 3 Rupees to 3089 Rupees per 100 kgs.

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EPIC RESEARCH NCDEX MENTHA OIL UPDATE OF 21 April 2017

Menthaoil trading range for the day is 935.6-956.4. Mentha oil spot at Sambhal closed at 1103.50 per 1kg. Spot prices was up by Rs.8.50/-. Mentha oil prices gained on short covering amid rise in demand in the domestic spot market. Further, tight stocks position on restricted supplies from producing regions, too supported mentha oil prices. India exported 21,150 metric tonnes of mentha and allied products, valued at Rs 2,577.59 crore in FY16.

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