Weekly Agri Report by www.epicresearch.co - 28 January 2013

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indore, India (prHWY.com) January 28, 2013 - HEADLINES

Pepper rises to 12-week high, jeera hits contract low
Pepper extended gains, rising the most in twelve weeks as stocks and supplies failed to keep pace with the firm winter demand. As of 0935 GMT, the most-active February pepper contract on the National Commodity and Derivatives Exchange (NCDEX) was 0.87 percent higher at 38,125 rupees per 100 kg, after hitting a high of 38,380 rupees earlier, a level last seen on Nov. 8. Spot pepper rose 231.5 rupees to 39,169 rupees per 100 kg in Kochi. "Arrivals are very less, which is helping prices," said Chowda Reddy, senior analyst with JRG Wealth Management. Pepper output is likely to be higher this season as good yields are expected in the top-producing states of Kerala and Karnataka, traders said. Supplies from the new season crop start arriving in January-February
TRADING TIP :
* BUY SOYABEAN

FRB ABOVE 3272
TGTS 3312/3372
SL 3202

* SELL CHANA

APR BELOW 3200
TGTS 3150/3100
SL 3250


WEEKLY MARKET ANALYSIS

* Pepper

Pepper prices declined by 0.75 per cent to Rs 35,005 per quintal in futures trade today as speculators reduced their positions amid a weak trend at spot markets due to sluggish demand.At the National Commodity and Derivatives Exchange, pepper for delivery in March fell by Rs 265, or 0.75 per cent, to Rs 35,005 per quintal, with an open interest of 987 lots.Likewise, the spice for delivery in February moved down by Rs 200, or 0.54 per cent, to Rs 37,030 per quintal, with a business volume of 1,926 lots.


* Chilli
chilli prices fell by Rs 200 to Rs 6,700-11,800 per quintal on reports of higher output
estimated in the current year. Jeera common and best quality also declined by Rs
200 each to conclude at Rs 14,200-14,400 and Rs 17,200-17,800 per quintal
* Turmeric

Turmeric futures fell a tad, weighed by higher carry-forward stocks and expected supplies from the new season crop from February.The April turmeric contract on the NCDEX was 0.06 percent higher at 6,264 rupees per 100 kg. Spot turmeric rose 2 rupees to 5,452 rupees per 100 kg at Nizamabad, a key market in Andhra Pradesh.

* Jeera

Jeera futures inched up as speculators build up strong positions on improved export
demand.However, expectations of higher output restricted the gains. The contract for
March delivery was trading at Rs 13,905.00, up by 0.60% or Rs 2.50 from its previous
closing of Rs 13,902.50. The open interest of the contract stood at 12540 lots.


WEEKLY SOYABEAN

OPEN: 3262
HIGH: 3274
LOW: 3255
CLOSE: 3264

* SOYABEAN LOOKS UPWARDS
* TREND: CONSOLIDATED
* STRATEGY: BUY ON DIPS


WEEKLY CHANA

OPEN: 6515
HIGH: 6518
LOW: 3585
CLOSE: 3603

* CHANA LOOKS DOWNWARDS
* TREND: CONSOLIDATE
* STRATEGY: SELL ON RISE

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