Daily Agri Report by www.epicresearch.co – 22 January 2013

The revival of spices complex has been a long pending in Kerala, but the recent bullish activities in spices are pointing that year 2013 could provide satisfactory return to farmers for their crops.

ListFree.org (Press Release) - Tuesday, January 22nd, 2013

Rally in spices complex may continue
The revival of spices complex has been a long pending in Kerala, but the recent bullish activities in spices are pointing that year 2013 could provide satisfactory return to farmers for their crops. The performance of spices complex during last year was more or less on the weaker side. Though, compared with 2011, the year 2012 did show significant gains for the spices complex.
Chilli Futures rise on lower output
Production shortfall and good export demand seem to be driving chilli futures up even as traders and exporters say there is adequate carryover stock in cold storages. The chilli March contract on NCDEX is ruling at around Rs 66 per kg, up over 6% in the month. The June contract stood at Rs 71.50 per kg on Friday. The spice industry feels that the price at Rs 65 per kg has factored in the expected drop in output.
TRADING TIP :
• Buy Mentha Oil jan

Above 1306
TGTS-1312/1320
SL- 1300

• Buy Soybean Feb

Above 3280
TGTS-3310/3350
SL-3250
ANALYSIS
DAILY SOYABEAN
OPEN: 3238
HIGH: 3280
LOW: 3238
CLOSE: 3278

• SOYABEAN LOOKS UPWARD
• TREND: BULLISH
• STRATEGY: BUY ON DIPS

DAILY CHANA
OPEN: 3560
HIGH: 3609
LOW: 3552
CLOSE: 3582

• CHANA LOOKS SIDEWAYS
• TREND: CONSOLIDATE
• STRATEGY: BUY ON DIPS

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