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WEEKLY AGRI REPORT 24TH DECEMBER 2012

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HEADLINES
Chilli , turmeric fall on sluggish demand
Red chilli and turmeric prices fell further by Rs 100 per quintal in the national capital today largely influenced by sluggish demand from local parties and stockiest amid adequate stocks. Increased arrivals from producing belts and weakening trend in futures market also put pressure on the select spice prices. Red chilli and turmeric prices declined by Rs 100 each to conclude at Rs 6,300-11,800 and Rs 6,400-9,600 per quintal, respectively. Market men

TRADING TIP:

said subdued demand from local parties and retailers against increased arrivals from producing belts, mainly pulled down the chilli and turmeric prices in the wholesale kirana market here.

SELL SOYABEAN JAN BELOW 3295 TGTS 3245/3185 SL-3345 SELL JEERA MAR BELOW 15545 TGTS 15395/15195 SL 15695

EXPERT OPINION
STOCK CHANA RM SEED SOYABEAN JEERA S1 S2 R1 R2

3,973 4,083 3,246 14,755

3,905 3,907 3,198 13,965

4,140 4,356 3,366 16,155

4,239 4,453 3,438 16,765

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PRODUCT EXP DATE Pepper NAME

WEEKLY MARKET ANALYSIS


OPEN HIGH LOW CLOSE LTP CHG PERCENTAGE CHANGE

Indian pepper futures fell on Friday due to sluggish overseas sales and expectations of an increase in output. As of 0937 GMT, the most-active February pepper contract on the CHANA 7/19/2012 4556 4573 4525 4560 4532 -28 -0.61 National Commodity and Derivatives Exchange (NCDEX) fell 2.63 per cent to 34,575 rupees per kg. Pepper 5060 expectations of good yields in CHILLI 1007/19/2012 output is likely to be higher next year due to5018 5060 5018 5120 -102 -1.99 the top producer state Kerala and Karnataka Chilli
GUR 7/19/2012 1188 1188 1178 1183.5 1178 -5.5 -0.46

JEERA 7/19/2012 14955 14960 14650 15052.5 14800 -1.68 Chilli prices fell by 1.57 per cent to Rs 6150 per quintal in futures trade-252.5 as speculators today

trimmed their positions, driven by sluggish demand in the spot market against adequate KAPAS 1044 1053 1035 1041 -8 -0.76 stocks. 7/19/2012 of higher output estimates further 1049 Reports fuelled the downtrend in chilli .At the National Commodity and Derivatives Exchange, chilli for delivery in March month fell by Rs 98, per quintal with an 42390 interest of 4,730 lots. Similarly, the open PEPPER or 1.57 per cent to Rs 6,15042555 7/19/2012 42300 42250 42435 45 0.11 spice for delivery in April contract traded lower by Rs 68, or 1.07 per cent to Rs 6,278 per quintal 7/19/2012 lots. Market analysis: - the fall in chilli prices at futures trade was mostly due in 2,630 REF SOYA 780.5 783.6 777.4 782.85 781.3 -1.55 -0.2 to off-loading of positions by speculators on expectations of higher output and sluggish demand in spot markets. SOY BEAN 7/19/2012 4309 4330 4265.5 4303 4315 12 0.28
TURMERIC

Turmeric

7/19/2012

4600

4676

4518

4664

4540

-124

-2.66

Indian turmeric futures hit a contract high for the second session on Tuesday due to a pick up WHEAT domestic demand 1251 a fall1282 the area under 1246 7/19/2012 1251 1282 36 in and in cultivation. As of 1014 GMT, 2.89 April the turmeric contract on the National Commodity and Derivatives Exchange (NCDEX) was up 2.55 percent at 6,606 rupees per 100 kg, hitting a contract high of 6,638 rupees earlier in the day. "Production could fall due to a decline in the seeded area but carry-forward stocks are very high and this would maintain smooth supplies next year," said Suresh Chowdhary, a trader from Nizamabad in Andhra Pradesh. At Nizamabad, spot turmeric rose 41 rupees to 5,297 rupees per 100 kg

Jeera
Indian jeera futures rose on fresh overseas enquiries and lesser supplies in the domestic market. The March jeera contract on the NCDEX was up 2.52 percent at 15,770 rupees per 100 kg. "Jeera is expected to rise further in the coming days because enquiries are very good from exporters," said Samir Mahendra Shah, a trader from Unjha, a key spot market in Gujarat.At Unjha, spot jeera was almost steady at 14,986 rupees per 100 kg India is the world's top producer of jeera, or cumin seed, followed by Syria and Turkey.

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WEEKLY SOYABEAN CHART

ANALYSIS
OPEN: 3360 HIGH: 3390 LOW: 3270 CLOSE: 3295

SOYABEAN LOOKS DOWNWARDS TREND: BEARISH STRATEGY: SELL ON RISE

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WEEKLY CHANA CHART

ANALYSIS
OPEN: 4121 HIGH: 4171 LOW: 4004 CLOSE: 4041

CHANA LOOKS DOWNWARDS TREND: BEARISH STRATEGY: SELL ON RISE

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