Thursday 18 April 2019

EPIC RESEARCH NCDEX Jeera UPDATE OF 18 April 2019



Jeera trading range for the day is 16050-17070.

* Jeera gained amid improving demand from the bulk buyers for new season crop.

* However, upside seen limited amid heavy supplies in the physical market.

* India's cumin seed output is set to touch 416,000 mln tns for 2019, about 9% higher than the previous year, supported by a sharp jump in production in Rajasthan.

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EPIC RESEARCH NCDEX Turmeric UPDATE OF 18 April 2019



Turmeric trading range for the day is 6184-6528.

* Turmeric settled down on the back of fresh season arrivals and good production prospects.

* Pressure also seen as some good quality produce is also arriving for sale in Erode market.

* Worries over El Nino conditions have eased and there are indications of another year of robust monsoon rain.

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EPIC RESEARCH NCDEX Rmseed UPDATE OF 18 April 2019



Rmseed trading range for the day is 3736-3810.

* Rmseed dropped due to slowing of meal exports coupled with reports of higher production prospects in 2018/19 season.

* NAFED bought 139,224 ton mustard seeds from farmers in the markets of Rajasthan, Haryana and Madhya Pradesh.

* Agriculture ministry projected India's 2018-19 mustard crop at 8.4 million ton versus 8.3 million ton the country harvested last year.


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EPIC RESEARCH NCDEX Crude palm oil UPDATE OF 18 April 2019



CPO trading range for the day is 539.2-544.6.

* CPO gained on short covering after prices dropped amid weakness in spot demand and overseas prices weighed down by expectations of rising production.

* Official data from the Malaysian Palm Oil Board (MPOB) showed March end-stocks and production at higher levels than expected.

* Malaysia's palm oil stockpiles at the end of March fell 4.6 percent from the previous month to 2.92 million tonnes.

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EPIC RESEARCH NCDEX Ref.Soya oil UPDATE OF 18 April 2019



Ref.Soya oil trading range for the day is 714-726.

* Ref.Soya oil dropped due to higher stocks at port, expectation of higher imports due to low tariff value.

* Earlier pressure also seen due to bumper production outlook of soybean for India and subdued domestic buying.

* According to report, soy oil import jumped by 64.7% to 2.20 lt in February compared to 1.34 lt last year same month.

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EPIC RESEARCH NCDEX Soyabean UPDATE OF 18 April 2019



Soyabean trading range for the day is 3694-3800.

* Soyabean dropped on concern over higher availability of oilseed in the country and slowing soybean meal exports.

* India is likely to see average monsoon rains this year, the state-run weather office said, which should support agricultural production.

* Soybean production is estimated higher by 20 per cent at 136.89 lakh tonnes as compared to 113.90 lakh tonnes produced during 2017-18.

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EPIC RESEARCH MCX Menthaoil UPDATE OF 18 April 2019



Menthaoil trading range for the day is 1478.1-1512.9.

* Mentha oil spot at Sambhal closed at 1599.10 per 1kg. Spot prices was down by Rs.-4.10/-.

* Menthaoil settled up amid improved demand from consuming industries at the domestic spot market.

* Further, lower arrivals from major producing belts of Chandausi in Uttar Pradesh also supporting prices.

* However, upside seen limited amid expectations of higher acreage under mint in 2019 due to lucrative prices throughout last year.

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EPIC RESEARCH MCX Aluminium UPDATE OF 18 April 2019



Aluminium trading range for the day is 147.6-149.2.

* Aluminium prices gained amid signs of a slower decline in alumina prices and expectations on higher consumption.

* China's exports rebounded in March but imports shrank for a fourth straight month and at a sharper pace, painting a mixed picture of the economy.

* China's central bank said that it would strengthen coordination between monetary, fiscal and other policies to keep growth stable and forestall risks.



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EPIC RESEARCH MCX Nickel UPDATE OF 18 April 2019



Nickel trading range for the day is 878.7-917.5.

* Nickel prices remained supported after recent signs the global economy is likely to avoid a sharper downturn.

* China’s fiscal spending increased 15 percent during January-March from year ago levels to support economic growth.

* Vale Indonesia Q1 2019 nickel matte output down 24 pct, revises target



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EPIC RESEARCH MCX Zinc UPDATE OF 18 April 2019



Zinc trading range for the day is 224-228.6.

* Zinc gained as support seen after a raft of Chinese data signalled Beijing’s recent stimulus drive might be paying off.

* On-warrant zinc stocks in warehouses tracked by ShFE also marked a 7-percent daily increase to 51,976 tonnes.

* As the monthly delivery of cargoes under LME contracts approaches, the backwardation structure on LME zinc rapidly widened, resulting in higher social inventories.


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