AGRI COMMODITY MARKET REPORT -20 MAY 2015

Turmeric May futures traded on a surged up on Tuesday(5.00pm) at India's National Commodity & Derivatives Exchange (NCDEX). Turmeric spice decresed by -1.89% to 8100 level at NCDEX. Agriculture Department estimates put turmeric production this year at around 3.7 million bags compared with 5.2million bags a year ago. Low quality arrivals had kept pressure on prices.

The NCDEX Soyabean May futures sluggished by-2.24% in the last trading to close at 4050 level till Tuesday closing.Fall in Indian production as per 3rd Advanced Estimates kept trend up for  Soybean after the recent fall. With a decrease of 5.37 million tons over last year, total production of oil seeds in the country is estimated at 27.38 million tonnes—asper 3rd Advanced estimates by GoI.Soybean production is estimated at 10.70 million tons.

Chana futures traded on a positive note on decreased demand on Tuesday(5.00PM). Chana Mayl contract gained -1.03%to 4701 levels. Chana rates shot up in the mandis as rising demand, lower production, falling stocks and rising imports at higher cost skept trend firm. A rise in Petrol/Diesel prices further supported the market sentiments. However reports of Monsoon likely to arrive before time could cool prices to some extent. A fall in production as per Govt estimates supported the market sentiments.

The NCDEX Dhaniya MAY futures slipped by-1.54% in the last trading to close at11480 level on Tuesday. Bargain buying was seen in coriander prices as prices increased by almost Rs 100 per quintal at Kota and other mandies due possibility of crop damage to coriander crop in Rajasthan. However, fresh supplies of around 15-20 thousand bags have been reported in local mandies.

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