Commodities Daily ReportAgricultural Commodities Saturday| April 06, 2013 www.angelcommodities.comContentNews & Market Highlights Chana Sugar Oilseed Complex Spices Complex Kapas/Cotton Angel Commodities Broking Pvt. Ltd. Registered Office: G-1, Ackruti Trade Centre, Rd. No. 7, MIDC, Andheri (E), Mumbai - 400 093. Corporate Office: 6th Floor , Ackruti Star, MIDC, Andheri (E), Mumbai - 400 093. Tel: (022) 2921 2000 MCX Member ID: 12685 / FMC Regn No: MCX / TCM / CORP / 0037 NCDEX: Member ID 00220 / FMC Regn No: NCDEX / TCM / CORP / 0302 Disclaimer: The information and opinions contained in the document have been compiled from sources believed to be reliable. The company does not warrant its accuracy, completeness and correctness. The document is not, and should not be construed as an offer to sell or solicitation to buy any commodities. This document may not be reproduced, distributed or published, in whole or in part, by any recipient hereof for any purpose without prior permission from “Angel Commodities Broking (P) Ltd”. Your feedback is appreciated on[email protected]Research Team Vedika Narvekar - Sr. Research Analyst Anuj Choudhary - Research Analyst [email protected][email protected](022) 2921 2000 Extn. 6130 (022) 2921 2000 Extn. 6132
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MCX Member ID: 12685 / FMC Regn No: MCX / TCM / CORP / 0037 NCDEX: Member ID 00220 / FMC Regn No: NCDEX / TCM / CORP / 0302
Disclaimer: The information and opinions contained in the document have been compiled from sources believed to be reliable. The company does not warrant its accuracy, completene
correctness. The document is not, and should not be construed as an offer to sell or solicitation to buy any commodities. This document may not be reproduced, distributed or published, in who
part, by any recipient hereof for any purpose without prior permission from “Angel Commodities Broking (P) Ltd”. Your feedback is appreciated on [email protected]
Research Team
Vedika Narvekar - Sr. Research Analyst Anuj Choudhary - Research Analyst
Partial sugar decontrol: Cane growers divided over impactSugarcane growers are divided over the impact of the partial decont
measures announced by the Government on Thursday. The farmers
the North, especially Uttar Pradesh, are sceptical over the sugar factori
passing on the gains to them arising from the removal of the levy syste
This is even as total cane arrears across the country in the current sug
year increase to over Rs 10,694 crore, with Uttar Pradesh accounting f
over half of it at Rs 5,800 crore, followed by Karnataka and Tamil Nadu.
Cane arrears However, growers in West and South, mainly
Maharashtra and Karnataka, where co-operatives have a significapresence in the sector, expect the millers to share a pie of the gains w
them. Abinash Verma, Director-General of the Indian Sugar M
Association, said the removal of levy and regulated release mechanis
would help millers to sell the sweetener in line with the requirement
their cash flows and clear the cane arrears. Currently, the sugar mille
are sitting on an inventory of 17.5 million tonnes worth around Rs 51,0
crore, Verma estimates. ( Source: Business Line)
Rubber slips on weak cuesThe rubber market finished weak on Friday. Declines in the domes
futures and the trendsetting international markets kept the sentimen
subdued during the day. Though sheet rubber continued to reel und
pressure on buyer resistance, the grade managed to sustain at t
prevailing levels on supply concerns. The trend was mixed amidst lo
volumes. Sheet rubber was quoted steady at Rs 164 a kg, according
traders. The grade finished unchanged at Rs 164.50 a kg both
Kottayam and Kochi as reported by the Rubber Board. ( Source: Business Line
Corn's weekly loss biggest in 21 months, soy declinesU.S. corn prices set a nine-month low on Friday and posted their bigge
weekly loss in 21 months on more selling in the wake of last week's U
government report that showed larger-than-expected stockpiles of t
grain. Soybeans fell to a 10-month low on fears of a potential drop
feed demand due to bird flu in China and seasonal pressure from t
harvest of massive soy crops in South America. Wheat rose on sho
covering amid rumors of China buying U.S. soft wheat. Wheat also dre
support from a drop in the U.S. dollar following disappointing U.S. jo
data. A weaker dollar makes U.S. wheat more competitive to holders
foreign currency. ( Source: Reuters)
U.S. winter wheat crop hit by freeze, farmers to write off fieldsU.S. wheat farmers are expected to write off portions of their wint
wheat acreage after a recent freeze in key growing areas struck fiel
already suffering from drought, wheat experts said Friday. "We've got
significant amount of damage out there," Travis Miller, agronomist wi
Texas A&M University, said in an interview. A plunge in temperatures
late March in parts of Texas, Oklahoma and Kansas damaged an as-ye
unknown portion of the new hard red winter wheat crop, deliveri
another blow to farmers whose fields were already suffering from
extended drought. Producers and state and county agronomy expe
met this week to assess crop damage, and many farmers will soon b
meeting with insurance adjusters to write off lost wheat fields, whe
experts said. ( Source: Reuters)
News in brief Loss by Maharashtra coop sugar mills factories to fall Rs. 960 crMaharashtra co- operative sugar mills have received a partial benefit due
to partial decontrol. The loss on account of mismatch between the
market price and the price at which levy sugar was sold will fall by Rs.
960 cr during the current crushing season. Factories will earn at least Rs.
115 to 120 per quintal following the relaxation of 10% levy obligation. Inall 170 sugar factories comprising 108 cooperative and 62 private mills
are participating in the present season and are expected to produce 8
million ton of sugar. Vijaysinh Mohite- Patil, chairman, Federation of
Cooperative Sugar Factories in Maharashtra, a representative body of
over 170 units, told Business Standard" Against exmill price of Rs. 2,800
to 2,900 per quintal, factories had to sell 10% levy sugar at the
government determined price of Rs. 1,850 per quintal. The loss incurred
by them was Rs. 1,100 to Rs. 1,200 per quintal. But with the removal of
10% levy obligation, the loss will now come down by Rs. 960 cr from the
total estimated loss of Rs. 3,300 cr," he informed. ( Source: Business Standard)
Oilmeals exports slide 13 percent in FY'13India's oilmeals export fell by 13% to 48.46 lk tn in the 2012-13 fiscal due
to price disparity and competition from China and Argentina, industrybody Solvent Extractors Association said. However in value terms, export
of oilmeals, which is mainly used as animal feed, rose by 40% to Rs
11,806 cr from Rs 8,430 cr in the review period on account of better
realisation and rupee depreciation by eight%, it said in a statement. "The
overall export in terms of quantity reduced by 7.5 lk tn to 48.46 lk tn
from 55.99 lk tn," Mumbai-based Solvent Extractors Association (SEA)
said. Exports to Japan, Vietnam, Thailand and Indonesia drastically
reduced due to "disparity in exports in these regions against severe
competition from other origins including China and Argentina," it said.
Absence of buying by China due to ban since January 2012 has seriously
affected overall exports and particularly exports of rapeseed meal, the
industry body added. Export of rapeseed meal declined to 7.9 lk tn in
2012-13 fiscal, as compared with 12.5 lk tn in the previous year, the data
showed. However, SEA said that shipments to the Middle East andAfrican countries doubled to 12.2 lk tn from 6.1 lk tn in the review period
because of huge buying from Iran and also substantial increase by
Turkey. France also turned out to be a big importer of soybean meal, on
account of lower supply from others, it added. ( Source: Economic Times)
Drip irrigation powered by the sunPunjab will this month start giving farmers a 70% subsidy on solar-
powered submersible pumps for drip irrigation, which would help save
40 to 60% water, besides electricity when demand peaks. Some experts
feel the decision has come a little late in Punjab, known for adopting
innovative farming methods. Neighbouring Rajasthan had stolen a march
on Punjab in 2010 by offering an 86% subsidy for solar pumps for drip
irrigation. Punjab did experiment with centrifugal solar pumps a few
years ago, but those did not prove efficient. Officials say the combinationof drip irrigation (directing water and fertilisers to the roots through
pipes slowly and by regulating the flow through valves, thus preventing
wastage) and solar pumps would enhance the summer crop yield. ( Source:
Financial Express)
North-West may witness rain, stormy weatherThe western disturbance that crosses the international border and rolls
into North-West India, is forecast to suddenly acquire depth and intensity
and trigger some weather in the region. Earlier in February, a series of
such monsters had made back-on-back appearances and sprayed snow,
ice and rain in the hills and plains at times accompanied by hailstorm.
While crossing the border, the sheer depth and intensity caused them to
sweep through even peninsular India, and in a rare feat, generated
hailstorms in Central India and adjoining peninsular India. ( Source: Business