Agri-Commodity Newsletter For Today - 30/12/10

Indian spices fall on weak exports | Turmeric continues downtrend | Jeera plunges on subdued demand

MARKET WRAP

Indian spices fall on weak exports

Turmeric continues downtrend

Jeera plunges on subdued demand

Soy complex down on profit booking

Mentha Oil gains on fresh buying

Guar drops on arrivals

Chana up on output view

Shortage of quality turmeric crop available with the stockists will provide support to the turmeric prices in the short term. Pepper prices will depend on global Black pepper availability and demand from the overseas and domestic market. Trend will depend on Jeera price parity of various origins in international market and stocks of Jeera with local stockists. Mustard seed prices are expected to trade slightly higher on account of higher prices of other oilseeds and edible oils as firm overseas market and winter season
demand. Indonesia is expected to increase export tax on CPO from 15% to 20% from January onwards and improved demand in physical market ahead of winter/marriage season demand may also support the prices in the short term. Dry weather in the Argentina is causing concern to the standing Soybean crop which is giving bullish impetus to the market. Further demand from the importing nations like China continues to give support to the international prices. In the short term, Chana Price gains may be capped on positive reports of sowing and rising arrivals of Kharif pulses.

TECHNICAL VIEW

CH CARDAMOM (DEC) VIEW
TREND- BULLISH
STRATEGY- SELL ON HIGHS
RES1- 1645 RES2-1690
SUP1-1595 SUP2-1570

CH CHANA (DEC) VIEW
TREND- CONSOLIDATE
STRATEGY- BUY ON DIPS
RES1-2545 RES2-2565
SUP1-2505 SUP2-2480

CH GUARGUM (DEC) VIEW
TREND- CONSOLIDATE
STRATEGY- SELL ON HIGHS
RES1-6300 RES2-6400
SUP1-6120 SUP2-6050

CH GUARSEED (DEC) VIEW
TREND- CONSOLIDATE
STRATEGY- SELL ON HIGHS
RES1-2430 RES2-2475
SUP1-2390 SUP2-2360

CH JEERA (DEC) VIEW
TREND:- CONSOLIDATE
STRATEGY:- SELL ON HIGHS
RES1- 14650 RES2- 14820
SUPP1- 14050 SUPP2- 14300
CH MENTHA OIL (DEC) VIEW
TREND:- CONSOLIDATE
STRATEGY:- BUY ON DIPS
RES1- 1177 RES2- 1200
SUPP1- 1145 SUPP2- 1120

CH MUSTARD SEED (DEC) VIEW
TREND:- CONSOLIDATE
STRATEGY- SELL ON HIGHS
RES1- 576 RES2- 582
SUPP1- 568 SUPP2- 562

CH PEPPER (DEC) VIEW
TREND:- CONSOLIDATE
STRATEGY:- SELL ON HIGHS
RES1- 22710 RES2- 23000
SUPP1- 22250 SUPP2- 22000

CH SOYABEAN (DEC) VIEW
TREND:- CONSOLIDATE
STRATEGY:- SELL ON HIGHS
RES1- 2370 RES2- 2400
SUPP1- 2350 SUPP2- 2320

CH TURMERIC (DEC) VIEW
TREND:- CONSOLIDATE
STRATEGY:- SELL ON HIGHS
RES1- 10900 RES2- 11020
SUPP1- 10650 SUPP2- 10400

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