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Epic Research Daily Agri Commodity Report Of 06 FEBRUARY 2018



Commodity News

Chinese are surging ahead by making rapid usage of Bamboo in general and also as a fiber for cloth production, they are promoting bamboo-made rexin and cloth as a future alternative to Cotton cloth. Bamboo fiber are is stronger than Cotton fiber and more importantly, the yield per hectare is high. India has a lot to worry as bamboo is not grown as a plantation crop by farmers here. Experts say India need to grow bamboo as a plantation crop as a alternative for Cotton fiber for clothes manufacturing. Cotton is fertilizer and pesticide-intensive, responsible for 11 per cent of the world's pesticide market and consumes massive quantities of fertilizer. Unlike bamboo does not require fertilizer or pesticide.

Global Coffee exports rose by 0.7% in December 2017 to 10.621 million 60-kg bags from 10.543 million one year earlier, data from the International Coffee Organisation (ICO) showed. Exports in the first 3 months of Coffee year 2017/18 (Oct/17 to Dec/17) have decreased by 6.7% to 28.36 million bags compared to 30.4 million bags in the same period in the last Coffee year. In the twelve months ending December 2017, exports of Arabica totalled 76.26 million bags compared to 73.61 million bags last year; whereas Robusta exports amounted to 43.37 million bags compared to 46.03 million bags.

India's Soymeal exports are expected to fall by a 50% this oil year (November 2017–October 2018) as a sudden spurt in Soybean prices has made Indian meal exports uncompetitive. According to Indore-based Soybean Processors Association (SOPA), India's total Soymeal exports skyrocketed to 2 million tonnes for oil year 2016-17 from a mere 320,000 tonnes during the previous year, when its shipment was hit due to crushing disparity. Soymeal has become expensive because of rising Soybean prices. India's cost of soymeal production works out to $500 a tonne as against exports from Argentina and the United States at $400 a tonne.

Economic News

The food ministry has proposed doubling of the import duty on sugar to 100 per cent to curb cheaper imports, check falling wholesale prices of sweetener and ensure timely payment to cane farmers, sources said. Wholesale prices have fallen below the cost of production in view of estimated 6 million tonnes more production in the 2017-18 season (October-September). In retail market, sugar is being sold at Rs 40-42/kg. Wholesale prices have fallen below the cost of production in view of estimated 6 million tonnes more production in the 2017-18 season (October-September). In retail market, sugar is being sold at Rs 40-42/kg. According to the sources, a recommendation has been made to the finance ministry that import duty on sugar be raised from the current 50 per cent to 100 per cent to protect domestic sugarcane farmers. Sugar industry bodies ISMA and NFCSF had sought timely intervention as ex-factory prices of sugar have fallen below the cost of production to Rs 29.50-30/kg in view of estimated rise in production.

When the Centre completes its ambitious programme of connecting all large 585 agriculture produce marketing committees (APMCs) or regulated mandis to eNational Agriculture Market (eNAM) by the end of next month, it will fully establish an Amazon or Flipkart for agri produce. The eNAM should act as the technology platform for millions of farmers to sell their produce, and remove the intermediaries APMCs were known to create - something the World Bank always resented while calling out for sweeping reforms in India's mandi markets. The district is represented in Lok Sabha by Mallikarjun Kharge, the Congress floor leader in the Lok Sabha. The man who came up with the concept but began in a small way in Kalaburagi is R Ramaseshan, a former IAS officer from Karnataka. He established India's first online platform, not when he was a government servant, but after resigning from the IAS and becoming the CEO of NCDEX.

Trading Recommendations

SELL CORIANDER APR BELOW 5750 TARGET 5720 5680 5630 SL ABOVE 5800
BUY TURMERIC APR BELOW 7130 TARGET 7160 7200 7250 SL ABOVE 7080
SELL GUARGUM5 FEB BELOW 10070 TARGET 10040 10000 9950 SL 10120

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News Release: Epic Research Daily Agri Commodity Report Of 06 FEBRUARY 2018
Submitted on: February 06, 2018 04:51:51 AM
Submitted by: EpicResearch
On behalf of: www.epicresearch.co/
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