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Epic Research Daily Agri Report 12th Feb 2016

Discussion in 'Stock Market News & Analysis' started by chetanepic, Feb 12, 2016.

  1. chetanepic

    chetanepic New Member

    Jan 9, 2016
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    Intraday Trader
    Commodity News

    Soyabean settled down driven by subdued demand for soybean crushing as feed industry planning to import meals. Besides, recently released data by the industry body Solvent Extractors' Association (SEA), showed export of soya meal has touched a record low at 69,263 tonnes in the first ten months of 2015-16, down 87 % from 5.49 tonnes in the same period last year, also weighing on prices.

    Economic News

    India has received deficit rainfall for nine consecutive months, the driest phase since 2009, but now as harvesting approaches, winter rainfall may extend up to April, which is again bad news for farmers."Models are showing March-April rains to be above normal. It is going to be wetter," said Laxman Singh Rathore, director general, India Meteorological Department.

    National Market Update

    According to IBIS (provisional data), import of pulses in the week (01 Feb-07 Feb) was around 119 Thousand tonnes at major ports in India, around 12% lower than previous week’s (25 Jan-31 Jan) import of 135 Thousand tonnes.

    Chana markets’ including futures recovered smartly in last few days despite new crop is round the corner. There is a gossip in market that stockiest are trying to drag market up so that they could sell their old stock at higher level and get fund for procurement from new crop. Actually, market, especially futures market has been on rise against all expectation.

    Standing pea crop in Kanpur region of Uttar Pradesh is in dire need of rains as size of the grain is feared to be affected in absence of rains. Moisture stress would not allow pea under developing stage to develop fully.

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