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Epic Research Daily Agri Report 15th Feb 2016

Discussion in 'Indian Stocks' started by chetanepic, Feb 15, 2016.

  1. chetanepic

    chetanepic New Member

    Jan 9, 2016
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    Intraday Trader
    Commodity News

    Ref Soya oil settled up tracking firmness in spot demand despite over supply following higher imports data. Soy meal exports touched an all time low of 7,707 tonnes in January this year, due to higher bean prices in the domestic market.

    Jeera settled up on reports of supply shortfall and good domestic demand, as new season crop will only come in March. Jeera sowing area in major growing districts of Rajasthan reported down current year due to higher prices alternate crop like Methi seed and low damage risk as compared to Jeera crop.

    Economic News

    To ensure that prices of pulses do not flare up any further, central security agencies including Intelligence Bureau and Directorate of Revenue Intelligence have been asked to keep a close watch on tur, urad and gram traders to check speculation and hoarding.Pulses prices have been under pressure since last year due to production fall in the wake of unfavourable weather.

    National Market Update

    Total cotton arrival till January 27 this season remained 144.07 lakh bales (of 170 Kg each), around 30% lower as compared to 206.76 lakh bales previous season during the same period, according to Cotton Corporation of India.

    According to the industry sources, Cotton Corporation of India (CCI) has auctioned most of its stocks it procured under MSP operation in 2015-14 and currently it is holding 25000 bales (of 170 Kg each) of cotton.

    India is likely to export 1.24 million tons (around 73 lakh bales of 170 kg each) of cotton in season 2015-16, around 9% higher than the estimates of previous month which was 1.26 million tons and around 36% higher as compared to 0.91 (around 53.76 lakh bales) million tons, the volume it exported in the previous season, according to USDA.

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