Achiievers equities commodity report

Daily Commodity Report as on Thursday, January 22, 2015

Date : Thursday, January 22, 2015 URL : www.achiieversequitiesltd.com Page No - 1

Open High Low Close % Cng OI

Gold 28049 28271 27811 27977 -0.38 8047Silver 39772 40580 39565 39923 1.01 10264

Alum. 113.35 115.9 112.55 115.65 1.36 2702Copper 354.05 359.95 347.15 357.1 0.35 13240Lead 116.6 117.75 114.75 117.2 -0.17 1812Nickel 907 928.6 903.6 923.3 1.29 4019Zinc 129.85 131.6 128.5 131.45 0.92 2986

Crude 2924 2989 2896 2948 0.24 37237Nat. Gas 177.8 186.2 176.7 179.4 1.99 5810

Chana 28049 28271 27811 27977 -0.38 8047

Cardamom 1031 1065 1003 1007.7 -3.08 1142Turmeric 9000 9036 8596 8596 -4.00 34120

Jeera 16850 16900 16055 16200 -3.11 15840Dhaniya 7430 7546 7275 7418 -1.44 13990

Wheat 1677 1677 1664 1668 0.54 3170

Soyabean 3451 3470 3375 3393 -1.88 87450Ref. Oil 641.4 644.85 635.5 636.9 -0.78 69545CPO 451.3 451.5 441.6 445.7 -1.28 1297RMSeed 3498 3515 3411 3445 -1.52 36700Menthol 727 745 725.2 738.5 1.88 7789Cotton 14590 14590 14340 14360 -1.78 3698

USDINR 61.84 61.84 61.62 61.72 -0.14 1194334EURINR 71.51 71.53 71.24 71.46 -0.28 32603GBPINR 93.52 93.66 92.99 93.34 -0.35 24064JPYINR 52.34 52.62 52.26 52.50 0.60 12317

Chana prices ended with losses due to weak domestic demand in local mandis as the quality available is of inferior variety.

Turmeric prices ended with losses weighed by profit-taking and start of supplies from the new season crop.Currency

Jeera prices ended with losses tracking weakness in spot demand amid profit booking.


Natural gas prices retraced some of the previous session's losses, as investors reacted to a cooler shift in weather patterns.

Ref soyoil ended with losses tracking weakness in spot demand amid higher supply following robust imports data.Cereals

Mentha oil prices ended with gains driven by pick-up in demand from consuming industries in the spot market. Oil and Oilseeds & Others

Soyabean prices ended with losses on expectation of higher supply in international market and on weak demand for Indian meal

Energy Copper gained as prices seen supported after it was reported European Central Bank will announce quantitative easing.

Zinc settled up at 131.45 as prices seen supported after US December housing starts hit a 7-year high. Pulses

Nickel settled up as market expectations that the European Central Bank will push quantitative easing increased. Spices

Market Round upPrecious Metals

Gold prices fell after two ECB officials said policy makers will propose purchasing 50 billion euros in assets per month through the end of 2016.

Base MetalSilver prices gained amid growing expectations the European Central Bank will unveil a government bond-buying program.

Crude oil rebounded some losses, as the focus shifts to this week’s U.S. inventory data and the European Central Bank’s meeting.

Silver settled up 1.01% at 39923 amid growing expectations the European Central Bank will unveil a government bond-buying program when it meets later in the week. In a report, the U.S. Commerce Department said thatthe number of building permits issued last month decreased by 1.9% to 1.032 million units from November’s total of 1.052 million. The report also showed that U.S. housing starts rose by 4.4% last month to hit 1.089 million units from November’s total of 1.043 million units, compared to expectations for a reading of 1.040 million. Uncertainty over the outcome of Greek elections, due to be held on Sunday, with anti-bailout party Syriza leading inthe polls further boosted demand for safe haven assets. The International Monetary Fund cut its global growth forecast for 2015 on Tuesday to 3.5% from a previous estimate of 3.8%, citing slowing economies in China,Russia, the euro zone and Japan. Meanwhile, data showed that China’s economy grew 7.4% in 2014 from a year earlier, below the government's official target of 7.5% and the slowest pace since 1990. It expanded 7.7% in2013. Financial markets have been nervous about the ECB policy meeting on Thursday, when the bank is widely expected to unveil a quantitative easing (QE) programme. While diverging monetary policies have boosted thedollar, the slump in commodities and weakness in foreign economies have raised speculation the Fed may hold off raising rates. Technically market is under short covering as market has witnessed drop in open interest by -3.28% to settled at 10264 while prices up 401 rupee, now Silver is getting support at 39466 and below same could see a test of 39008 level, And resistance is now likely to be seen at 40481, a move above could see pricestesting 41038.


CLOSE 39923 RES-1 40481 Holdings at Ishares Silver Trust dropped by 2.08% i.e. 209.93 tonnes to 9899.04 tonnes from 10108.97 tonnes.

% CNG 1.01 RES-2 41038 SELL SILVER MAR @ 40100 SL 40450 TGT 39850-39550. MCX

HIGH 40580 SUP-1 39466 Silver prices gained amid growing expectations the European Central Bank will unveil a government bond-buying program.

LOW 39565 P.P. 40023 Uncertainty over the outcome of Greek elections, with anti-bailout party Syriza leading in the polls further boosted demand for safe haven assets.

Gold settled down -0.38% at 27977 after two European Central Bank officials said policy makers will propose purchasing 50 billion euros in assets per month through the end of 2016. Tepid wage and price pressures visible inrecent US data may prompt the Federal Reserve to rethink the start of the normalization of benchmark interest rates, expected later this year. Total known ETF holdings of gold is at its highest since November 2014; thepostive ytd performance, might be adding to demand. Every investor this week is eyeballing the European Central Bank to see whether it announces the start of a sovereign bond-buying program on Thursday, as manywatchers believe it will. President Mario Draghi will have to sidestep objections from Germany and convince the Governing Council to vote for such a highly controversial stimulus program. In any case, the details of such aprogram would be scrutinized closely for its potential impact on financial markets. Adding to the appeal of the yellow metal was the latest forecast released by the International Monetary Fund late on Monday which said theglobal economy will grow 3.5% this year rather than 3.8% as projected in October. Next year, the world economy should expand 3.7% instead of 4%.Even with the stimulus from lower oil prices, underlying weakness outsidethe US will dampen the expansion in the next two years, the fund said. Technically market is under long liquidation as market has witnessed drop in open interest by -4.27% to settled at 8047 while prices down -108 rupee,now Gold is getting support at 27769 and below same could see a test of 27560 level, And resistance is now likely to be seen at 28229, a move above could see prices testing 28480.

MCX Silver Mar 2015 TRADING IDEA

OPEN 39772 SUP-2 39008 Silver trading range for the day is 39008-41038.

CLOSE 27977 RES-1 28229 Total known ETF holdings of gold is at its highest since November 2014; the positive ytd performance, might be adding to demand.

% CNG -0.38 RES-2 28480 SELL GOLD FEB @ 28100 SL 28350 TGT 27920-27780. MCX

HIGH 28271 SUP-1 27769 Gold prices fell after two ECB officials said policy makers will propose purchasing 50 billion euros in assets per month through the end of 2016.

LOW 27811 P.P. 28020 SPDR gold trust holdings gained by 16.21 tonnes i.e. -2.24% to 740.45 tonnes from 724.24 tonnes.

MCX Gold Feb 2015 TRADING IDEA

OPEN 28049 SUP-2 27560 Gold trading range for the day is 27560-28480.

Copper settled up 0.35% at 357.1 as prices seen supported after it was reported European Central Bank will announce quantitative easing. Copper demand in China, the world’s biggest user, will be hurt by persistentweakness in the property market over the next 12 months. A downturn in the nation’s real-estate market, which accounts for half of China’s copper usage, weighed on industrial metal consumption in the past year and isunlikely to end in 2015. The International Monetary Fund this week joined the World Bank in cutting global growth forecasts while China said its economy grew at the slowest pace since 1990. The metal is down 9.9 percentthis year after falling 14 percent in 2014. Refined copper output in China, the world’s largest producer, surged to a record last year as smelting capacity expanded amid ample supply from global miners. Production rose 14percent to 7.96 million metric tons last year, the Ministry of Industry and Information Technology said in a statement on its website. Refined copper production increased while the country’s economy last year grew at theslowest pace since 1990, fueling concern that China’s slowing growth will spur a glut. Chinese copper smelters were encouraged to increase output last year after they raised the processing fees that they charge miners by 31 percent. Copper stockpiles monitored by the LME climbed for a seventh day to the highest since May, bourse data showed Wednesday. Technically market is under short covering as market has witnessed drop in openinterest by -1.11% to settled at 13240 while prices up 1.25 rupee, now Copper is getting support at 349.5 and below same could see a test of 341.9 level, And resistance is now likely to be seen at 362.3, a move above couldsee prices testing 367.5.


CLOSE 357.1 RES-1 362.3 Copper demand in China, the world’s biggest user, will be hurt by persistent weakness in the property market over the next 12 months.

% CNG 0.35 RES-2 367.5 SELL COPPER FEB @ 360 SL 363.80 TGT 356.80-353.50-349. MCX

HIGH 360.0 SUP-1 349.5 Copper gained as prices seen supported after it was reported European Central Bank will announce quantitative easing.

LOW 347.2 P.P. 354.7 Refined copper output in China, surged to a record last year as smelting capacity expanded amid ample supply from global miners.

Crude oil rebounded some losses, as the focus shifts to this week’s U.S. inventory data and the European Central Bank’s meeting. Iraq is pumping 4 million barrels a day and will boost exports, Oil Minister Adel Abdul Mahdisaid at a news conference in Baghdad. The IMF made the steepest reduction to its global-growth outlook since January 2012 in its quarterly global outlook. Projections for the euro area, Japan, China and Latin America weretrimmed. OPEC has no immediate plan to cut its output target for crude, and Iran is strong enough to withstand a deeper slump in prices even if the country must sell at $25 a barrel. Oil prices have fallen nearly 60% sinceJune as the Organization of Petroleum Exporting Countries resisted calls to cut output, while the U.S. pumped at the fastest pace in more than three decades, creating a glut in global supplies. The US produced 9.19 millionbarrels a day through Jan. 9, the most in weekly records dating back to January 1983, said the Energy Department’s statistical arm. The U.S. oil boom has been driven by a combination of horizontal drilling and hydraulicfracturing, which has unlocked shale formations from Texas to North Dakota. Oil won’t rebound until supply slows as even political tension in the Middle East and Africa remain secondary to the market glut, said the PulitzerPrize-winning oil historian. Technically market is under fresh buying as market has witnessed gain in open interest by 1.43% to settled at 37237 while prices up 7 rupee, now Crudeoil is getting support at 2899 and belowsame could see a test of 2851 level, And resistance is now likely to be seen at 2992, a move above could see prices testing 3037.

MCX Copper Feb 2015 TRADING IDEA

OPEN 354.1 SUP-2 341.9 Copper trading range for the day is 341.9-367.5.

CLOSE 2948 RES-1 2992 OPEC has no immediate plan to cut its output target for crude, and Iran is strong enough to withstand a deeper slump in prices.

% CNG 0.24 RES-2 3037 SELL CRUDE OIL FEB BELOW 2935 SL 2985 TGT 2900-2868-2845. MCX

HIGH 2989 SUP-1 2899 Crude oil rebounded some losses, as the focus shifts to this week’s U.S. inventory data and the European Central Bank’s meeting.

LOW 2896 P.P. 2944 Iraq is pumping 4 million barrels a day and will boost exports, Oil Minister Adel Abdul Mahdi said at a news conference in Baghdad.

MCX Crudeoil Feb 2015 TRADING IDEA

OPEN 2924 SUP-2 2851 Crudeoil trading range for the day is 2851-3037.

Nickel settled up 1.29% at 923.3 as market expectations that the European Central Bank will push quantitative easing increased. US housing starts increased 4.4% MoM to an annualized 1.09 million in December, a high notseen since 2007, with groundbreaking for single-family homes up sharply. A recovering labor market, low mortgage rates as well as stronger consumer confidence all helped boost demand for residential houses. Expansion inthe country’s real estate market is expected to continue this year. US stocks closed with gains on Wednesday, aided by inspiring economic indicators. Speaking at the World Economic Forum in Davos, Chinese Premier LiKeqiang said that China’s economy is entering a “new normal” of slower, but healthier growth. He added that China will maintain a medium-high growth rate and implement active fiscal policy and prudent monetary policy.LME nickel prices opened at USD 14,755/mt, then edged up, with price volatility up in the afternoon, breaking through the 10-day moving average. During European trading hours, LME nickel prices dropped to as low as USD14,680/mt but pulled up to breach USD 15,000/mt, and closed at USD 15,060/mt, up 2.21%. Trading volumes increased 1,162 to 4,484 lots, and total positions decreased 2,609 to 206,345. LME nickel inventories grew1,902 to 419,964 mt. Technically market is under short covering as market has witnessed drop in open interest by -15.1% to settled at 4019 while prices up 11.8 rupee, now Nickel is getting support at 908.4 and below samecould see a test of 893.5 level, And resistance is now likely to be seen at 933.4, a move above could see prices testing 943.5.


CLOSE 923.3 RES-1 933.4 Technically market is under short covering as market has witnessed drop in open interest by -15.1% to settled at 4019

% CNG 1.29 RES-2 943.5 BUY NICKEL JAN @ 910 SL 995 TGT 928-940. MCX

HIGH 928.6 SUP-1 908.4 Nickel settled up as market expectations that the European Central Bank will push quantitative easing increased.

LOW 903.6 P.P. 918.5 US housing starts increased 4.4% MoM to an annualized 1.09 million in December, a high not seen since 2007

Zinc settled up 0.92% at 131.45 as prices seen supported after US December housing starts hit a 7-year high. The International Monetary Fund cut its 2015 global growth forecast on Tuesday to 3.5% from a previousestimate of 3.8%, citing slowing economies in China, Russia, the euro zone and Japan. Meanwhile, data showed that China’s economy grew 7.4% in 2014 from a year earlier, below the government's official target of 7.5%and the slowest pace since 1990. It expanded 7.7% in 2013. The US building permits rose significantly in December, indicating that the mild recovery in housing market shored up market confidence. European Central Bank’sproposal called for EUR 50 billion/month bond purchases that would last for a minimum of one year, according to The Wall Street Journal. In China, the central bank announced renewal of the RMB 269.5 billion and anadditional RMB 50 billion injection to deal with the rising money demand before the Chinese New Year holiday. LME zinc prices opened at USD 2,113/mt, then inched down to RMB 2,085/mt, and soared again to USD2,139/mt, closing at USD 2,131/mt, up USD 26/mt or 1.24%. Trading volumes were up 1,545 to 9,538 lots, and total positions decreased over 10,000 to over 289,000. LME zinc inventories fell 100 to 652,675 mt. Technically market is under fresh buying as market has witnessed gain in open interest by 4.7% to settled at 2986 while prices up 1.2 rupee, now Zinc is getting support at 129.4 and below same could see a test of 127.4 level, Andresistance is now likely to be seen at 132.5, a move above could see prices testing 133.6.

MCX Nickel Jan 2015 TRADING IDEA

OPEN 907.0 SUP-2 893.5 Nickel trading range for the day is 893.5-943.5.

CLOSE 131.5 RES-1 132.5 Moreover, the International Monetary Fund cut its 2015 global growth forecast to 3.5% from a previous estimate of 3.8%.

% CNG 0.92 RES-2 133.6 BUY ZINC JAN @ 130.50 SL 129 TGT 131.80-132.50. MCX

HIGH 131.6 SUP-1 129.4 Zinc settled up at 131.45 as prices seen supported after US December housing starts hit a 7-year high.

LOW 128.5 P.P. 130.5 China's slower-than-expected economic expansion in 2014 in particular, also raises concerns.

MCX Zinc Jan 2015 TRADING IDEA

OPEN 129.9 SUP-2 127.4 Zinc trading range for the day is 127.4-133.6.

Turmeric settled down by -4% at 8596 weighed by profit-taking and start of supplies from the new season crop. The new crop has now hit the markets in Maharashtra, Andhra Pradesh and Karnataka. There are concerns overproduction crop loss due to cyclone ‘Hudhud’ that hit Andhra Pradesh in Oct 2014. Demand for the commodity has been increasing rapidly from North India and from the medicinal and cosmetic industry. Spot turmeric pricesincreased in Erode markets last week due to arrival of good quality turmeric. Traders, especially exporters, procured good number of turmeric due to arrival of good quality produce. Many buyers were keen on buying qualityhybrid turmeric and also local root variety turmeric. Sowing of Turmeric in AP for the 2014-15 season is reported at 0.13 lakh ha, as against 0.1 lakh ha last year. The area in Telangana stood at 0.446 lakh ha against 0.431lakh ha last year. Exports in turmeric have increased by 10% to 43,000 tonnes during Apr-Sep 2014 as compared to last year. The export target for the 2014-15 is 80,000 tonnes according to Spice Board. At Erode marketarrivals were reported at 2500 quintals, higher by 1000 quintals from previous trading day. New turmeric began arriving in Erode markets and it is fetching a good price. As on now 100 bags of average quality Mysore varietyturmeric arrived for sale and all the 100 bags were sold, fetching reasonable price. Technically market is under long liquidation as market has witnessed drop in open interest by -3.11% to settled at 34120 while prices down -358 rupee, now Turmeric is getting support at 8448 and below same could see a test of 8302 level, And resistance is now likely to be seen at 8888, a move above could see prices testing 9182.


CLOSE 8596 RES-1 8888 Spot turmeric prices increased in Erode markets last week due to arrival of good quality turmeric.

% CNG -4.00 RES-2 9182 SELL TURMERIC APR @ 8700 SL 8820 TGT 8540-8420. NCDEX

HIGH 9036 SUP-1 8448 Turmeric prices ended with losses weighed by profit-taking and start of supplies from the new season crop.

LOW 8596 P.P. 8742 The new crop has now hit the markets in Maharashtra, Andhra Pradesh and Karnataka.

Chana settled down by -1.55% at 3371 due to weak domestic demand in local mandis as the quality available is of inferior variety. The recent rains in some parts of Rajasthan had pressurized prices as that was consideredbeneficial for the standing crop. Any further rains in coming days there could again pressurize prices to some extent. However, lower sowing reports and expectations of a pick up in demand at the lower levels are likely tosupport the prices in coming weeks. According to Ministry of Agriculture, total rabi pulses acreage till now is down by 11% to 133.41 lakh hectare (Ha.) as compared with last year’s area coverage of 149.17 lakh hectareduring the corresponding week. The area planted under chana is also down by 16% to 81.98 Lakh Ha against 98.16 lakh ha. in same corresponding week during last year. The chana 2014-15 planted area is down in majorproducing states Madhya Pradesh (-17%),Andhra Pradesh(-30%),Maharashtra (-25%), Karnataka (6%) and Uttar Pradesh (5%). Meanwhile, according to Australian Bureau of Agriculture and Resource Economics (ABARE)total acreage in Australia was down by 33% to 339,000 hectare as compared to previous year. Australia is major supplier to Indian markets, contributes over 65-70% of the country's total quantity imported. In Delhi spotmarket, chana dropped by -24.75 rupee to end at 3400 rupee per 100 kgs.Technically market is under long liquidation as market has witnessed drop in open interest by -2.51% to settled at 104730 while prices down -53rupee, now Chana is getting support at 3333 and below same could see a test of 3294 level, And resistance is now likely to be seen at 3413, a move above could see prices testing 3454.

NCDEX Turmeric Apr 2015 TRADING IDEA

OPEN 9000 SUP-2 8302 Turmeric trading range for the day is 8302-9182.

CLOSE 3371 RES-1 3413 NCDEX accredited warehouses chana stocks gained by 1205 tonnes to 36307 tonnes.

% CNG -1.55 RES-2 3454 BUY CHANA FEB @ 3340 SL 3300 TGT 3388-3430. NCDEX

HIGH 3415 SUP-1 3333 Chana prices ended with losses due to weak domestic demand in local mandis as the quality available is of inferior variety.

LOW 3335 P.P. 3374 Gujarat Rabi Chana Area Down 31% Y-O-Y Till Jan 19

NCDEX Chana Feb 2015 TRADING IDEA

OPEN 3412 SUP-2 3294 Chana trading range for the day is 3294-3454.

121.5119.6118.5

112.5113.6115.5

1812

116.6

1.1


Positive Positive

SPREAD 123 645 70.00 -0.10 3.85 0.50 6.90

TREND Positive Positive Positive Positive Positive Positive Positive

-0.20

893.5 111.327769 39466 2899 175.4 349.5

OI 8047 10264 37237 5810 13240 2986 4019 2702126.3 883.4 110.1

129.4 908.4 113.5127.4

P. POINT 28020 40023 2944 180.8 354.7

27309 38451 2806 165.9 336.7SUPPORT 27560 39008 2851 171.3 341.9

362.3 132.5 933.4 116.9130.5 918.5 114.7

RESISTANCE28689 41496 3085 194.4 375.1 135.6 958.4 120.328480 41038 3037 190.3 367.5 133.6 943.5 118.128229 40481 2992 184.9

CLOSE 27977 39923 2948 179.4 357.1 131.45 923.3 115.65

Mentha oil settled up by 1.88% at 738.5 driven by pick-up in demand from consuming industries in the spot market. Besides, tight stock positions in the physical market on restricted arrivals from Chandausi in Uttar Pradeshtoo supported mentha oil prices’ uptrend. The sowing is set to start from February onwards. Rains at this time would be beneficial for the crop sowing. Traders expect some more short term corrections before initiating freshdemand in mandis. Demand from pharmaceutical Industries and rise in exports could support the prices at the lower levels. Reports of rains in some areas in growing state of UP kept trend slight weak for Mentha Oil as thesowing is set to start from February onwards. Rains at this time would be beneficial for the crop sowing. Mentha oil production is expected to fall this year by 30 per cent to 40,000 tonnes from 55,000 tonnes a year ago, withacreage under the commodity declining as farmers sentiment were dampened due to lower prices. Mentha oil arrivals to the spot market, especially from the Chandausi in Uttar Pradesh, have increased substantially. Theresulting fall in prices was capped due to lower production of the commodity this season. Acreage is expected to fall by 20 per cent this year, to 17,500 hectare on the back of a large carry-over stock from last year, whichalso had an impact on prices. Technically market is under short covering as market has witnessed drop in open interest by -6.83% to settled at 7789 while prices up 13.6 rupee, now Menthaoil is getting support at 727.4 andbelow same could see a test of 716.4 level, And resistance is now likely to be seen at 747.2, a move above could see prices testing 756.

DAILY MARKET LEVEL FOR METAL AND ENERGY

COMMODITIES GOLD SILVER CRUDE NAT.GAS COPPER ZINC NICKEL ALUMINUM LEAD

117.2

CLOSE 738.5 RES-1 747.2 Besides, tight stock positions in the physical market on restricted arrivals from Chandausi in Uttar Pradesh too supported prices.

% CNG 1.88 RES-2 756.0 BUY MENTHA OIL JAN ABV 728 SL 720 TGT 738-746-756.MCX (BTST)

HIGH 745.0 SUP-1 727.4 Menthaoil spot is at 866/-. Spot market is up by Rs.11/-.

LOW 725.2 P.P. 736.2 Mentha oil prices ended with gains driven by pick-up in demand from consuming industries in the spot market.

MCX Menthaoil Jan 2015 TRADING IDEA

OPEN 727.0 SUP-2 716.4 Menthaoil trading range for the day is 716.4-756.

1:30pm EUR 0.236 0.237Day 2 ALL 0 0

3:30pm EUR 0.001 06:15pm EUR 0.0005 0.00057:00pm EUR 0 07:00pm USD 301K 316K7:30pm USD 0.004 0.0068:30pm EUR -11 -119:00pm USD -231B -236B9:30pm USD 2.5M 5.4M

0 0 0 00 0 0 00 0 0 0

8

The problem of a lack of confidence in the euro area has been overcome, German Finance MinisterWolfgang Schaeuble said on Tuesday, assuring that the bloc is not about to slide back into a crisis. "Infinancial issues we have overcome the lack of confidence we have suffered in the last couple ofyears," Schaeuble said during his visit to India. "The crux of our talks was whether Europe is going toremain on a stable trajectory", he continued. "As you know, I am an optimist in this regard." Hiscomments came in an especially crucial week for the currency bloc, as the European Central Bank(ECB) is expected to announce a full-blown QE on Thursday, with Greek parliamentary electionstaking place three days afterwards. There have been fresh fears of a break-up of the euro zone aheadof elections, as the radical left-wing Syriza party is expected to win and wants to abandon theausterity imposed on Athens.

The International Monetary Fund (IMF) in its "World Economic Outlook Update" now forecasts growthof 3.5% for the current year, lowering the previous October estimate of 3.8% economic expansion.The growth outlook for 2016 has also been trimmed to 3.7%.The IMF expects the positive effects oflow oil prices to be offset by several negative factors, mainly by weaker investments, diminishing thegrowth prospects for many developed as well as emerging economies over the next few years."Global growth will receive a boost from lower oil prices," the IMF said in the document. "But thisboost is projected to be more than offset by negative factors, including investment weakness asadjustment to diminished expectations about medium-term growth continues in many advanced andemerging market economies." Speaking at the release ceremony in the Chinese capital, the IMF'schief economist Olivier Blanchard (pictured) told reporters that many countries have been able to thedeal with the recent economic crisis, notably the US, although there are "a number of countries whichhave very high debt and have to be careful".He added that it will take a very long time to rectify,mentioning Japan as an extreme example.

Vegetable oil import in India rose 7% in December due to continuous dumping from surplus countrieslike Indonesia and Malaysia on "nil" export duty. Data compiled by the apex trade body the SolventExtractors' Association showed India's total import of veg oil at 1.14 million tonnes in December 2014as compared to 1.07 million tonnes in the corresponding month last year. The overall import of vegoils during November - December 2014 was reported at 2.33 million tonnes as compared to 2.01million tonnes i.e. up by 16%. In last three months, due to "nil" export duty on palm products byIndonesia and Malaysia and reduced demand of crude palm oil for bio diesel, pushed the export ofpalm products to India to reduce burgeoning stock held by the exporting countries. Also, due to highprices of soybean and lesser realization for oil and soybean meal in export market, resulted in lowercrushing and availability of domestic oil, B V Mehta, executive director of SEA, said.

The United States department of agriculture (USDA) increased 2014-15 United States soybeanproduction forecast indicating robust supply in the world's biggest bean producer. The USDAincreased US, the world's biggest bean grower, 2014-15 production estimates to 108 million tonscompared to 107.7 million tons in the previous estimates and 91.4 million tons a year ago. However,USDA forecast for 2014-15 US soybean ending stockpiles at 410 million bushels unchanged from theprevious month and 92 million bushels a year ago. Brazil, the world's second biggest soybeanproducer, 2014-15 output may rise to 95.5 million tons compared to 94 million tons a month ago and86.7 million tons a year ago, the USDA said. Argentina, world's third biggest soybean producer, 2014-15 crop output may increase to 55 million tons unchanged from the previous month and 54 milliontons a year ago.

Date : Thursday, January 22, 2015 URL : www.achiieversequitiesltd.com Page No -

Consumer ConfidenceNatural Gas StorageCrude Oil Inventories

000

PREV

Homebuilder confidence in the U.S. has seen a modest deterioration in the month of January,according to a report released by the National Association of Home Builders. The report said theNAHB/Wells Fargo Housing Market Index edged down to 57 in January from an upwardly revised 58 inDecember. Economist had expected the housing market index to inch up to 58 from the 57 originallyreported for the previous month. Despite the modest decrease, the NAHB noted that the indexremained above 50 for the seventh straight month, indicating that more builders view conditions asgood than poor. The drop by the housing market index was partly due to a notable decrease by thecomponent measuring expectations for future sales, which fell to 60 in January from 64 in December.The component gauging traffic of prospective buyers also fell to 44 from 46, while the componentgauging current sales conditions remained unchanged at 62.

Thu

Spanish Unemployment RateWEF Annual MeetingsItalian Retail Sales m/mMinimum Bid RateECB Press ConferenceUnemployment ClaimsHPI m/m

NEWS YOU CAN USE DAY TIME ZONE ECONOMICAL DATA EXP


Achiievers equities commodity report

Economy & Finance