Thursday, January 19, 2017

EPIC RESEARCH NCDEX UPDATE OF COTTON 19 JANUARY 2017

Cotton trading range for the day is 19813-20233. Cotton prices ended with gains due to rising domestic as well as export demand in the spot market. In 2016 kharif season, all India cotton acreage was reported at 102.79 lakh hectares compared to116.41 lakh hectares during the previous season. In the 2016-17 cotton marketing year, US cotton exports are likely to increase by 35 per cent. Cotton prices in spot market gained by 80.00 rupees and settled at 19870.00 rupees.

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EPIC RESEARCH NCDEX UPDATE OF CARDAMOM 19 JANUARY 2017

Cardamom trading range for the day is 1531.3-1581.1. Cardamom dropped on profit booking after prices gained amid good export from exporters in view of hopes of higher export contracts. Harvesting is almost over and hence the supply is unlikely to increase in the coming days. Total arrivals during the season from August 1 up to January 13 were at 10,897 tonnes and sales were at 10,330 tonnes. Cardamom prices in spot market dropped by 13.70 rupees and settled at 1473.30 rupees. 

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EPIC RESEARCH NCDEX UPDATE OF MAIZE 19 JANUARY 2017

Maize trading range for the day is 1438-1452. Maize prices settled flat despite of firmness in spot demand and overseas prices. In India, maize has been sown in around 14.72 lakh hectares which is higher than 13.46 lakh hectare At Khanna market in Punjab, total arrivals are at 3750 Quintal, up by 750 Quintal from previous trading day. In Nizamabad maize spot prices gained 1.65 rupees to 1480 rupees per 100kgs. 

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EPIC RESEARCH NCDEX UPDATE OF JEERA 19 JANUARY 2017

Jeera trading range for the day is 17350-17790. Jeera prices ended with losses on profit booking after prices gained due to weak supplies position amid good demand from exporters. Expectation of increase in Jeera area in Gujarat state mainly in Saurashtra and Kutch zone current year also weighed on prices. As per Gujarat Govt. sowing data current year Jeera sowing completed around 256800 hectares. In Unjha, a key spot market in Gujarat, jeera edged up by 29.35 rupees to end at 18577.1 rupee per 100 kg. 

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EPIC RESEARCH NCDEX UPDATE OF TURMERIC 19 JANUARY 2017

Turmeric trading range for the day is 6508-7016. Turmeric prices gained on anticipation of rising physical as well as export demand at the spot market. Turmeric output is seen higher at 7 million bags thanks to higher sowing and favorable weather conditions. Turmeric acreage in Telangana and Andhra Pradesh was higher this year as compared last year. In Nizamabad, a major spot market in AP, the price ended at 7300 rupees gained 75 rupees. 

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EPIC RESEARCH NCDEX UPDATE OF MUSTARD SEED 19 JANUARY 2017

Rmseed trading range for the day is 3909-3989. Mustard seed dropped on profit booking and on expectation of higher supply. The rains which are expected during the coming days would be favourable for the mustard crop as the crop requires moisture. NCDEX accredited warehouses mustard seed stocks dropped by 161 tonnes to 3162 tonnes. In Alwar spot market in Rajasthan the prices gained 12.9 rupees to end at 4346.9 rupees per 100 kg. 

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EPIC RESEARCH NCDEX UPDATE OF CRUDE PALM OIL 19 JANUARY 2017

CPO trading range for the day is 591.7-599.1. Crude palm oil prices ended with gains amid supply worries from Malaysia and on strong Malaysian palm oil export data for Dec 1-15. Stock continues to be on a five year low keeping the supply tightness story intact. As per MPOB Palm oil output may rise by 12 % this year to 19.4 million tons from 17.4 million tons in 2016. Crude palm oil prices in spot market dropped by 0.90 rupees and settled at 601.10 rupees. 

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EPIC RESEARCH NCDEX UPDATE OF REF. SOYAOIL 19 JANUARY 2017

Ref.Soya oil trading range for the day is 724-730. Ref soyoil prices ended with losses on profit booking after prices gained on demand hope in local mandis. Forecast as well as ongoing heavy rains in Argentina is increasing threat to the soy crop. U.S 2016/17 ending stocks of soy oil is estimated to rise to 1,652 million lbs from 1,522 million lbs in January estimate. At the Indore spot market in Madhya Pradesh, soyoil was steady at 732.65 rupees per 10 kgs. 

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