Technical Outlook

TRADING STRATEGY :
BUY DHANIYA NOV ABOVE 12120 TGTS 12150,12200 SL 12080
SELL GUARGUM NOV BELOW 15710 TGTS 15660,15560 SL 15800
SELL NOV BELOW 4710 TGTS 4680,4630 SL 4750
BUY TMC NOV ABOVE 6140 TGTS 6190,6290 SL 6050



Commodities In News
 Amid private UP sugar mills' threat to shut operations this season, the
Center today said millers would eventually start their factories though
crushing operations may get delayed by 10-15 days.Few months back, private
sugar mills in Uttar Pradesh -- the country's second biggest producer --
threated not to open their mills in the current 2014-15 season (October-
September) till the state government links cane prices with sugar rates.Mills
were forced to issue suspension notice as they suffered huge losses during last
season on account of high cane prices fixed by the state and lower realisation
from sugar sales.
Smugglers have turned to black pepper after rising export of betel nuts to
India drew attention of government officials. According to data of Sirsiya Dry
Port, Birgunj, import of black pepper has doubled in recent months. Average
monthly import of black pepper was 42.37 tons in 2013/14. But import figures
have already reached 173.2 tons in the first two months of the current fiscal
year. Black pepper is cheaper by Rs 300 per kg in the Nepali market
compared to India. Black pepper costs Rs 900 in Nepal. Traders say heavy
difference in price is fueling smuggling of black pepper to India.
The agriculture ministry data showed that the total sowing area under
oilseeds at 0.46 million hectares (ha) by October 24 this year, as compared to
a negligible 0.16 million ha by the same period last year. The sowing area
under maize also shot up to 0.07 million ha as of Saturday compared with 0.05
million ha in the previous year.The area under jowar declined to 1.03 million
ha by October 24 from 1.28 million ha by the same period last year. The area
under pulses also reported a marginal decline to 0.33 million ha in the rabi
season 2014-15 compared to 0.38 million ha in the previous season.




ECONOMIC NEWS

The Agriculture Ministry has proposed amendments to the NCDC
Act to include farmer producer organisations (FPOs) for extending
financial assistance and government subsidies.Currently, the National
Cooperative Development Corporation provides financial assistance
to cooperatives including those from weaker sections, for
infrastructure and business development among others."We have
suggested a small amendment to the Act to incorporate FPOs for
extending loans and subsidies," a senior Agriculture Ministry official
said.The government is encouraging setting up of FPOs in a big way
and trying to provide credit facilities through various schemes so that
FPOs become viable, the official added.The government is
encouraging setting up of FPOs in a big way and trying to provide
credit facilities through various schemes so that FPOs become viable,
the official added.FPOs, which are registered under the Companies
Act, are firms consisting of small and marginal farmers.
The government is focusing on increasing farm productivity and
several initiatives are being taken to achieve this goal, Agriculture
Minister Radha Mohan Singh said today.Singh conveyed this to a
delegation of US-India Business Council in a meeting here, an
official statement said.In the meeting, the delegation expressed their
commitment to advancing agricultural development in India and
discussed areas where the government and industry can collaborate.

National & International Market Updates
India exports of Textile and Apparel to USA has surged by 7% during
January-August 2014, according to US Department of Commerce’s Office
of Textiles and Apparel data. The same has noticed the annual growth of
2% in last five year. India has exported textile and apparel to USA valued
USD 4.54 billion in August this year compared to USD 4.26 billion
previous year during the same period.Cotton Corporation of India (CCI)
has not started the procurement of cotton at Adilabad market yard on
Monday, 20th October 2014, as scheduled earlier. CCI official refused to
procure cotton at MSP of Rs. 4050 per quintal, due to presence of moisture
content beyond the permissible limit of 12%. countries could face fall in
the export of cotton and its products including yarn and textiles due to lack
of price competitiveness if they support the policies that support prices
above the world market.
According to the latest report released by USDA, as on October 26, 2014,
48% of cotton crop in USA is in excellent to good condition, which was
47% last week and 44% a year ago. 91% bolls open has reported in cotton
which was 86% last week and 95% as five year average. 42% of cotton
harvesting reported which was 29% a week ago and 41% as a 5 year
average. Uzbekistan has finished the cotton harvest campaign. The farmers
of the country have harvested 3.4 million tonnes of cotton this year. It has
been reported that 90% of the harvested crop is of high grade.China
imported around 122,900 tonnes of cotton in September this year, 39%
lower when compared to same month last year, reported China Cotton
Association (CCA). China imported 2 million tonnes of cotton, 38% lower
when compared to same period last year.According to the latest report
released by USDA, as on October 19, 2014, 47% of cotton crop in USA is
in excellent to good condition, which was 47% last week and 44% a year
ago. 86% bolls open has reported in cotton which was 77% last week and
90% as five year average. 29% of cotton harvesting reported which was
22% a week ago and 31% as a 5 year average.


SUGAR PRICES AT KEY SPOT MARKET
CENTER
28-Oct-14
27-Oct-14
%Change
AMRAVATI
NA
CLOSED
-
RAJKOT
3620
NR
-
PATAN
22000
CLOSED
-
DEESA
NA
NA
-
BHIWANI
5000
5000
UNCH


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