Epic Research Daily Agri Report 11 FEB 2016

1. DAILY AGRI COMMODITY REPORT 11 February 2016 Our Presence HNI & NRI Sales Contact Australia Toll Free Number 1-800-200-9454 All queries should be directed to Info@epicresearch.co Epic Research India 411 Milinda Manor (Suites 409- 417) 2 RNT Marg. Opp Central Mall Indore (M.P.) Hotline: +91 731 664 2300 Alternate: +91 731 664 2320 Or give us a missed call at 026 5309 0639 Mintara Road, Tarneit, Victoria. Post Code 3029 Phone.: +61 422 063855 HNI & NRI Sales Contact USA 2117 Arbor Vista Dr. Charlotte (NC) Cell: +1 704 249 2315 1 YOUR MINTVISORY YOUR MINTVISORY Call us at +91 Call us at +91- -7 731 31- -6642300 6642300

2. Market Views MONTH OPEN HIGH LOW CLOSE % CHG VOL MONTH OPEN HIGH LOW CLOSE % CHG VOL CORIANDER CASTORSEED APR 6598 6785 6566 6760 +3.51 8820 - - - - - - - SUPPORT SUPP.1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2 6622 6485 - - Coriander short term trend is bullish and May continue in coming days. PIVOT PIVOT INTRADAY LEVELS INTRADAY LEVELS - 6704 - RES. 1 RES. 1 RES. 2 RES. 2 RESISTAN CE RESISTAN CE 6923 - 6841 - TURMERIC GUARGUM APR 8980 9074 8824 8878 -0.22 11685 MAR 5660 5660 5510 5560 -1.94 19280 SUPPORT SUPP. 1 SUPP. 2 SUPPORT SUPP. 1 SUPP. 2 8777 8675 5493 5427 Turmeric short term trend is bullish and May continue in coming days. Guargum short term trend is bullish and May continue in coming days. PIVOT PIVOT INTRADAY LEVELS INTRADAY LEVELS 8925 5577 RES. 1 RES. 1 RES. 2 RES. 2 RESISTAN CE RESISTAN CE 9125 9027 5643 5727 2

3. Most Active Contract NCDEX INDICES TOP LOSERS Pre. Close % Index Value CURRENT PRICE CHANGE % SYMBOL EXPIRY DATE CHANGE Change BARLEY 20-04-2016 1397.50 -30.50 -2.14% CASTORSEED - - - RAPESEED-MUSTARD SEED 20-04-2016 3877.00 -56.00 -1.42% CHANA -0.51 4265 4287 COTTON SEED OIL CAKE AKOLA 19-02-2016 2025.00 -17.00 -0.83% CORIANDER +3.51 6760 6531 TURMERIC 20-04-2016 8878.00 -52.00 -0.58% GUARGUM -2.15 5470 5590 CHANA 20-04-2016 4265.00 -24.00 -0.56% SOYABEAN 19-02-2016 3706.00 -12.00 -0.32% JEERA +1.19 14425 14255 BARLEY 20-04-2016 1397.50 -30.50 -2.14% MUSTARD SEED -1.30 3877 3928 TOP GAINERS CURRENT PRICE SYMBOL EXPIRY DATE CHANGE CHANGE % SOYABEAN -0.35 3706 3719 CORIANDER 20-04-2016 6760.00 244.00 3.74% TURMERIC -0.22 8878 8898 JEERA 18-03-2016 14425.00 165.00 1.16% 3

4. Commodities In News ECONOMIC NEWS Turmeric settled up due to rising demand for the commodity from the drug and cosmetic industry. Further, lower acreage and unfavourable weather condition in the producing belts too fuelled the uptrend. Acreage is seen lower in two states and lower carryover stock is expected to support the upward move. India is the largest turmeric producer with 75-80% of the global production and demand for the commodity has been increasing rapidly from the drug and cosmetic industry.Country’s supply scenario for 2015-16, turmeric may continue to remain bleak for the third consecutive season. Expectation of sharp fall in beginning stocks by 56% amid marginal gain in production by 6% may reduce the total supply by 24% to 9.3 lakh tonne. Heavy demand was witnessed for new turmeric at Erode markets. Yesterday 2,500 bags of turmeric arrived for sale of which 400 bags were of the new Mysore Finger variety. But the new turmeric fetched Rs. 9,600- 9,800 a quintal. The old turmeric was sold at Rs. 9,200-9,600. Sixty per cent of the arrivals was sold. Government's main policy think tank Niti Aayog is taking views of various state governments on key recommendations made its recent paper on agriculture, including on genetically modified (GM) crops.The paper titled 'Raising Agricultural Productivity Remunerative for Farmers' has identified five issues confronting agriculture and made key recommendations to help bring about a second Green Revolution in India and sustain robust growth in agriculture."Niti Aayog is holding regional conferences on the key recommendations made in the paper. It has already held one for western region in Ahmedabad and is planning to have dialogue with other states in the coming weeks," sources said.The state governments' views are being taken as it is likely that some of the recommendations could find their way in the Budget considering Prime Minister's priority on agriculture and rural development, the sources added.The paper has suggested measures necessary to raise productivity, policies ensuring remunerative prices for farmers, reforms necessary in the area of land leasing and titles, a mechanism to bring quick relief to farmers hit by natural disasters, and initiatives necessary to spread Green Revolution to eastern states."As a part of its strategy to bring a Second Green Revolution, India must return to permitting proven and well-tested GM technologies with adequate safeguards. Additionally, India urgently needs technological breakthrough in oilseeds and pulses," it said.The country's dependence on imports for meeting domestic demand for edible oils has risen to 70 per cent. Even if India doubles its current level of oilseed production, the import dependence will remain at 40 per cent level. The situation is worse in pulses, it said."Recognising the general sensitivity to permitting multinationals to sell GM seeds, it may be prudent for the government to proceed with domestically sourced GM seeds only. Luckily, Indian scientists and institutions have been active and successful in this area," the paper suggested.The success of Bt cotton in India and many more GM seeds elsewhere in the world testifies to the potential of GM technology in giving a major boost to productivity in agriculture, it added. and Making Farming Jeera settled up on reports of supply shortfall, as new season crop will only come in March. Reports of fresh export demand also supporting prices. Gujarat has planted more cumin until Jan 25, 2016 compared to last year sowing progress. In Gujarat, jeera is planted about 10.8% more area at 2,95,400 hectares compared to 2,66,700 hectares last year same time.As per Agmarknet data, arrivals of Jeera in Gujarat markets for the calendar year 2015 is lower by 231 % at about 1.28 lt compared to 4.25 lt last year. According to Dept of Commerce data, the export of jeera during first 8 month of 2015-16 (Apr-Nov) is 56,787 tonnes, which is, lower as compared to last year. Jeera (cumin) exports have been 1.55 lt in 2014-15. According to govt data, exports for 2015-16 shows a decline trend compared to last year until September.It is expected that the Jeera exports from India are likely to decline by about 40-45 per cent to around 85,000-1,00,000 tonnes during 2015- 16. As per second advance estimate of Gujarat State for 2015-16, production is pegged at 2.11 lt higher by about 7% fore casted in revised fourth advance estimate of 1.97 lt. 4

5. Fundamental Watch : Castorseed CASTORSEED PRICES AT KEY SPOT MARKET National Market Update Downward pressure continues on cash seed markets ahead of new crop. Arrival s have started. However buyers are unwilling to buy as inner tone remains weak. Major buyers expect market to come down by Rs 200 per qtl more from current level. However, it remains to be seen whether farmers release stock at lower price. Pressure may continue on market and it may trade lower in the rest of weeks. CENTER 09-Feb-15 08-Jan-15 Change SUMERPUR NA NA - Traders/stockiests are waiting for \production and demand data to be released in Ahmadabad on 13 February-2016 in global castor conference. Production is expected to increase this year from 13 to 15 lakh tonne this year. PATAN 3050 3250 -200 In a latest move NCDEX has banned atleast four members to take any fresh position till ongoing investigation about their role in manipulation in castor seed contracts. These are trading members of Mid India Commodities, Investsmart Commodities, Neer–Ocean Commodities. NCDEX has suspended trading in all castor seed contracts last week and decided to settle them on the closing price of January 27.If any members and its firm are found quiltyof violations of regulations of the exchange shall be strictly dealt with in accordance with the provisions. MEHSANA 3025 3025 UNCH Multitrade and Leo Global BHABAR 3050 3060 -10 HARJI 3060 3060 UNCH India exported 10014.14 tonne castor oil during the week ended7th Feb - 2016.Average price realized at the rate of $1193.83 per tonne. Price realization has decreased 1.8% in comparison to last week. However, volume remains almost same as last week. Export demand is likely to continue as prices are ruling at lower level.Buyers are taking advantage of emerging scenario, as crop too is higher this year. RAJKOT NA NA - KADI 3050 3070 -20 5

6. Technical Outlook SELL GUARGUM MAR BELOW 5600 TARGET 5550 5480 SL ABOVE 5660 BUY CORIANDER APR ABOVE 6800 TARGET 6845 6995 SL BELOW 6735 BUY TURMERIC APR ABOVE 8940 TARGET 8984 9044 SL BELOW 8880 6

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