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Epic Research Daily Agri Report 19th Feb 2016

Discussion in 'Stock Market News & Analysis' started by chetanepic, Feb 19, 2016.

  1. chetanepic

    chetanepic New Member

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    Commodity News

    Ref Soya oil settled up as support seen due to expensive imports coupled with firm International market. Strength in crude palm oil and lower crush of soybean has reduced soya oil supplies hence prices are constantly finding support after a moderate decline. Soymeal exports touched an all time low of 7,707 tonnes in January this year, due to higher bean prices in the domestic market.

    Economic News

    Urea imports increased by 11 per cent to 81.25 lakh tonnes (LT) in the first ten months of this fiscal.India had imported 73.02 LT of urea in the corresponding period a year ago, according to official data.The rise in imports was due to lower prices of the fertiliser in the international market, a source said.The government imports urea through three agencies -- STC, MMTC and IPL.

    National Market Update

    The Foreign Agriculture Services (FAS), division of USDA has lowered the production forecast for India in its latest report to 356 lakh bales. The reason for the downfall in the revision is lower yield expectation in Punjab and Haryana due to the attack of white fly and impact of pink bollworm in Gujarat.

    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.

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