"WEEKLY AGRI REPORT BY EPIC RESEARCH - 16 JULY 2012"
w eekly AgriReport(16 July 2012) HIGHLIGHTS India Wheat exports to gain momentum on high global prices India's wheat exporters are having huge opportunities to tap the global grain market on the basis of price differences. The domestic wheat is offered at very competitive prices in the world commodity market on the back of record production in the country India's veg oil imports surges 24.65% during first eight months OY'12 With the rise in domestic demand amid lower availability of oilseeds for crushing, India's vegetable oil imports rose 24.65% to 6,395,199 tons during the first eight months (November to June) of the current oil year (OY). Food, Fuel prices to soar over next 10 year: FAO, OECD High income growth in developing countries is likely to hike the food and fuel over the next 10 years amid depleting global stocks and production, according to a joint report by Organization for Economic Cooperation and Development (OECD) and the Food and Agriculture Organization (FAO). Soybean hits record high; soya oil up as imports drop Indian soybean futures rose two percent on Friday to hit a record high, tracking a rally in the world market due to dry weather in the United States, though a pick-up in soybean sowing in India weighed on sentiments. www.epicresearch.co+919993959693 MARKET ANALYSIS:- Monsoon worries are building up fears of worsening inflation. Agri-commodity prices have already shot up 19% on the commixes since the beginning of July. Experts also ascribe the price rise to depreciating rupee and brisk demand from China for certain Indian commodities. The spurt in commodity prices in a span of 10 days will not make the task of the RBI easy to cut rates. Active futures prices of most of the commodities on the NCDEX, the commex with the most liquid contracts, saw average rise of 7%. Turmeric lead the list with 19% rise. The August delivery turmeric futures rose to Rs 4,862 level from Rs 4110 at close of June 30. Others include barley (12.7%), jeera (11.8%), cotton seed oil cake (12.6%), wheat (11.8%) and coriander (10.1%). Future prices of kharif oil seeds like Soybean and castor seed also rose by 9.6% and 9.5% respectively for the August delivery contracts. Soybean made all-time high of Rs 4,428 on Thursday on the back of price topping in the international market on Wheat has seen an 8% rise in just six trading sessions on stronger cues from international markets. India allowed 20 lakh tonne of wheat export on July 4 .Country produced a record 8.60 crore tonne wheat in the last Rabi marketing season. Cereals like maize also followed strong cues from global markets. www.epicresearch.co +919993959693 www.epicresearch.co+919993959693 Weekly soya bean chart Weekly Chana chart www.epicresearch.co +919993959693 www.epicresearch.co+919993959693 Disclaimer The information and views in this report, our website & all the service we provide are believed to be reliable, but we do not accept any responsibility (or liability) for errors of fact or opinion. Users have the right to choose the product/s that sui ts them the most. Sincere efforts have been made to present the right investment perspective. The information contained herein is based on analysis and up on sources that we consider reliable. This material is for personal information and based upon it & takes no responsibility The information given herein should be treated as only factor, while making investment decision. The report does not provide individually tailor-made investment advice. 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