Tuesday, 24 January 2017

EPIC RESEARCH NCDEX MENTHA OIL UPDATE OF 24 JANUARY 2017

Menthaoil trading range for the day is 996.5-1019.1. Mentha oil spot at Sambhal closed at 1123.80 per 1kg. Spot prices is up by Rs.4.20/-. Mentha oil prices gained amid pick-up in demand at domestic spot market. However upside seen limited on the speculation the area under cultivation can incerese this year resulting good production. At Barabanki market sources reported arrivals at 60 Drums(1-drum-180kg), down by 40 Drums(1-drum-180kg) from previous day’s arrivals.

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EPIC RESEARCH NCDEX SOYABEAN UPDATE OF 24 JANUARY 2017

Soyabean trading range for the day is 3068-3148. Soyabean prices dropped on the expectation of higher supply in the global market. US farmers are expected to plant 90.5 million acres of soybeans this spring, topping the record high set last year. NCDEX accredited warehouses soyabean stocks gained by 2599 tonnes to 166650 tonnes. At the Indore spot market in top producer MP, soybean dropped -36 rupees to 3081 rupees per 100 kgs.

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EPIC RESEARCH NCDEX REFINED SOYA OIL UPDATE OF 24 JANUARY 2017

Ref.Soya oil trading range for the day is 713-721. Ref.Soyaoil prices traded in range tracking weakness in spot demand and overseas prices on demand worries from the US. Moreover, the expectation of higher output during the current rabi season has also dragged the prices. Demand from end-consumers continues to remain as per requirement due to which uplifting from traders and stockiest is sluggish. At the Indore spot market in Madhya Pradesh, soyoil was steady at 725 rupees per 10 kgs.

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EPIC RESEARCH NCDEX CRUDE PALM OIL UPDATE OF 24 JANUARY 2017

CPO trading range for the day is 584.6-596.2. Crude palm oil prices ended with gains on increasing demand. However upside seen limited on the expectation of higher supply from Malaysia and Indonesia. Indonesia's crude palm oil (CPO) output likely fell slightly in December, ending a seven-month run of gains, a survey showed. Crude palm oil prices in spot market dropped by 1.00 rupees and settled at 594.60 rupees.

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EPIC RESEARCH NCDEX RM SEED UPDATE OF 24 JANUARY 2017

Rmseed trading range for the day is 3897-3941. Mustard seed prices ended with losses tracking weakness in spot demand amid higher supply. Pressure also is seen amid oversupply woes as the upcoming mustard crop has entered into the prodding stage. NCDEX accredited warehouses mustard seed stocks dropped by 1074 tonnes to 1980 tonnes. In Alwar spot market in Rajasthan the prices dropped -90.1 rupees to end at 4243.9 rupees per 100 kg.

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EPIC RESEARCH NCDEX TURMERIC UPDATE OF 24 JANUARY 2017

Turmeric trading range for the day is 6916-7148. Turmeric prices ended with gains amid fears of fall in output in Tamil Nadu. However upside seen limited thanks to reports of higher output. India exported about 51,147-ton turmeric during Apr-Aug 2016-17 up by 32% on year, as per the data released by commerce ministry. In Nizamabad, a major spot market in AP, the price ended at 7434.2 rupees gained 109.2 rupees.

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EPIC RESEARCH NCDEX JEERA UPDATE OF 24 JANUARY 2017

Jeera trading range for the day is 17710-18420. Jeera prices ended with gains due to weak output in Gujarat amid tight stocks and good export demand. Jeera output in Gujarat may fall 11% to 212,000 tonne during 2016-17 following lower acreage and adverse weather conditions. Jeera output per hectare is projected at 761 kg per down from 833 kg a year ago. In Unjha, a key spot market in Gujarat, jeera edged up by 241.7 rupees to end at 18833.35 rupees per 100 kg.

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EPIC RESEARCH NCDEX MAIZE UPDATE OF 24 JANUARY 2017

Maize trading range for the day is 1455-1501. Maize prices ended with gains tracking firmness in overseas prices and due to stockiest demand. USDA’s weekly export sales report put corn sales at nearly 1.4 million tonnes, topping a range of trade expectations. USDA also said that private exporters in the last day sold 126,312 tonnes of U.S. corn to unknown destinations. In Nizamabad maize spot prices gained 11 rupees to 1500 rupees per 100kgs.

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EPIC RESEARCH NCDEX CARDAMOM UPDATE OF 24 JANUARY 2017

Cardamom trading range for the day is 1496.8-1546.8. Cardamom prices dropped on profit booking after prices gained amid falling supplies due to weak output and fag-end of the season. Cardamom farmers say the monsoon was very bad and about 50 per cent deficient. The farmers say that last year they received just about 10 per cent rains compared to what they used to get normally during the north-east monsoon. Cardamom prices in spot market dropped by 19.40 rupees and settled at 1443.60 rupees.

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EPIC RESEARCH NCDEX COTTON UPDATE OF 24 JANUARY 2017

Cotton trading range for the day is 20117-20817. Cotton prices ended with gains tracking firmness in spot demand amid lower arrivals in local mandis. India' cotton arrivals up to Jan 19 stood at 12.80 million bales during the 2016-17 marketing season. CAB projected India's 2016-77 cotton output at 35.1 million bales as against 33.8 million bales a year ago Cotton prices in spot market gained by 150.00 rupees and settled at 20410.00 rupees.

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