Return to: Finance News

Epic Research Daily Agri Commodity Report Of 19 FEBRUARY 2018

Commodity News

The United States Department of Agriculture (USDA) estimates India's Soybean production for 2017/18 at 9.5 million tonnes, down 5 percent from last month forecast and down 17 percent from last year. Harvested area is estimated at 10.5 million hectares, unchanged from last month, but down nearly 8 percent from last year. The year-to-year decrease is due to farmers switching to Cotton and Pulses, USDA said. Yield is estimated at 0.90 tons per hectare, down about 5 percent from last month forecast but 4 percent above the 5-year average. Dry conditions during planting negatively impacted vegetative growth and pod development. During field travel in midSeptember, USDA/FAS personnel observed smaller-than-average seed
size in Maharashtra, a major Soybean area, the report said.

According to farmer sources in Saurashtra, a disease ‘alternaria blight’ has affected in selected areas of Rajkot and Jamnagar districts were Jeera (Cumin seed) is cultivated . At present it appears to be a minor issue at selected few farms as no widespread incidence is reported. Climatic fluctuations coupled with isolated instances of disease has become a cause of concern for the Jeera farmers in Gujarat. Farmers, fearing the spread of the blight, were forced to destroy the crop, which couldn’t face the temperature fluctuations over the past one month. Sources confirmed that multiple instances surfaced, where Jeera farmers reportedly destroyed their crop suspecting the disease.

Guntur, Asia’s largest Chilli market is all set to adopt the Electronic National Agricultural Marketing (eNam) system from this season. With this, the traders would have the option of choosing the produce across the 23 markets in the State. And, the farmers would have the choice of either accepting or rejecting the bids for their produce. So far, 3.5 lakh farmers have registered themselves in the State. The farmers who bring their produce to the local markets will be given a unique ID. The produce will be given a Lot ID on the auction floor. Details of the produce, such as quality parameters and price, are then uploaded in the portal.

Economic News

In a bid to protect farmers' interest, the government may soon unveil a Rs 15,000 crore plan to ensure they get the minimum support price (MSP) for their crops even when market prices fall below the benchmark rate, sources said. In his Budget 2018 speech, Finance Minister Arun Jaitley had announced that the government had decided to fix MSP for kharif (summer sown) at at least one and half times of their production cost. Jaitley had also said that the Niti Aayog in consultation with central and state governments would put in place a fool-proof mechanism to ensure farmers get the benefit of MSP. According to sources, Niti Aayog will soon call a meeting of central and state governments to discuss this issue and find a suitable mechanism to compensate farmers and ensure MSP. According to sources, Niti Aayog will soon call a meeting of central and state governments to discuss this issue and find a suitable mechanism to compensate farmers and ensure MSP.

A two-day national conference will be held on February 19-20 to discuss challenges faced by the agriculture sector and chalk out a roadmap to achieve the government's target to double farmers' income by 2022. The conference, which will have around 300 participants, has been called by Prime Minister Narendra Modi, who himself will attend the meeting on the second day. Participants include farmers, scientists, economists, policy makers, representatives of farmers and trade associations, corporates and officials from Centre as well as state governments. NITI Aayog and related union ministeries would also attend the meet. "We are organising a national conference 'Agriculture 2022-- Doubling Farmers Income' on February 19-20 at Pusa," Agriculture Secretary S K Pattanayak told reporters here. "In the conference, we will discuss what are the issues confronting agriculture sector
and what should be done in near, medium and long term. We are looking for
practical solutions that can be implemented in the field across the country,"
he said.

Trading Recommendations

SELL GUARGUM5 FEB BELOW 9580 TARGET 9550 9510 9460 SL 9630

Epic Research Limited is a supreme level financial advisory services provider firm .We have designed services for different investors as per their needs like mcx tips , equity tips, agri tips and many more to serve our clients. We offer regular services for investors with less capital and premium services for massive investors looking for higher returns on investments with bigger targets.
Want to take a FREE TRIAL? Visit our site link below and become a part of our Epic family. Happy trading.
mail us @

Also you can Whatsapp us at :7049084664

Our Office:411 Milinda Manor, 2 RNT Road, Indore 4520 ...

News Release: Epic Research Daily Agri Commodity Report Of 19 FEBRUARY 2018
Submitted on: February 19, 2018 05:42:10 AM
Submitted by: EpicResearch
On behalf of: