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Epic Research Daily Agri Commodity Report Of 17 JANUARY 2017



Commodity News

Onion price is likely to drop down further on increase in supply of new crop from major Onion producing centres in Maharashtra, Gujarat and Madhya Pradesh and this has led to concern among industry people about Onion exports. In the last two weeks, wholesale modal Onion prices have fallen nearly Rs 600 per quintal to touch Rs 2,850 per quintal on increased arrivals. Export of Onion need to be increased to stabilise the price of Onion, traders and industry experts are seeking to request for removal of curbs on minimum export price (MEP) since this makes export difficult.

Sohan Lal Commodity Management (SLCM), India’s leading agri services solutions provider having operations across India and Myanmar, has organized a “Mentha Oil Awareness Programme” in Barabanki, UP. The programme aimed to be a knowledge sharing platform for disseminating information on Mentha Oil production and trade practices in India, and witnessed staggering level of participation from eminent traders, bureaucrats and distinct leaders of agri industry. The programme highlighted SLCM’s competencies in scientific storage practices – backed by its own proprietary technology Agri Reach (patent pending) - for over 735 commodities in India and Myanmar.

The U.S Department of Agriculture (USDA) estimates India's 2017/18 Cotton yield to decrease to 519 kilogram per hectare, down slightly from last month and down 4% from last year due to pink bollworm infestation, which has been reported in 50% of the second and third picking in Maharashtra. Gujarat, however, which produces 30% of total production, has reported no incidence of pest infestation. Cotton crop area is expected to reach a near record at 12.3 million hectares, unchanged from last month and up 13% from last year. Planted area increased due to higher domestic prices compared to other crops.


Economic News

Finance Minister Arun Jaitley has given ample hint that Budget 2018 is going to be a farmer's Budget. Jaitley has said the agriculture sector is the top priority for the government because the country's economic growth is not justifiable and equitable unless the benefits were clear and evident in the farm sector. After launching options trading in guar seed on commodity exchange NCDEX yesterday, Jaitley said, "We see in some places the problem of falling prices because of higher production. Farmers are not getting the price for their produce.“There is indication that Budget 2018 can be full of farm freebies, not just because the government thinks that economic growth is not justifiable and equitable but also because farm distress can spoil the BJP's electoral chances. The Gujarat assembly elections saw erosion in the BJP's rural base. Elections are coming up this year in several predominantly agricultural states. And this is the last full Budget before the Lok Sabha elections next year.

IT professional Mahalakshmi Anil Kumar wanted to try a new technique for growing vegetables on her terrace. Then she came across aquaponics, a method that combines aquaculture (raising fish) and hydroponics (the soil-less growing of plants). After two years and an investment of Rs 2.5 lakh, her rooftop garden meets more than half of her household's vegetable needs. Aquaponics, a method in which fish waste provides organic food for plants which in turn keep the water fresh for the fish, is gaining popularity among households. The system recirculates and reuses water between animals and plants to maintain a stable aquatic environment. Water is added only to replace loss from absorption, transpiration, evaporation, overflow or removal of biomass. According to Murray Hallam, an aquaponics expert, the earliest experimentation in the segment was carried out by a group in Cape Cod, Massachusetts in the US. In recent times, it has also triggered interest in Australia and the US.


Trading Recommendations

BUY CORIANDER APR ABOVE 6060 TARGET 6090 6130 6180 SL ABOVE 6010
BUY TURMERIC APR BELOW 7550 TARGET 7580 7620 7670 SL ABOVE 7500
BUY GUARGUM5 FEB ABOVE 9380 TARGET 9410 9440 9490 SL 9330

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News Release: Epic Research Daily Agri Commodity Report Of 17 JANUARY 2017
Submitted on: January 17, 2018 04:37:09 AM
Submitted by: EpicResearch
On behalf of: www.epicresearch.co/
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