ncomm ncml commodity market monitor date: 29-05-2018 rm … · growth in 2017 as against 3.94 %...

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Date: 29-05-2018 NCoMM NCML Commodity Market Monitor

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• Cotton • Sugar • Soyben • RM Seed • Castor seed • Turmeric • Jeera

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NCML COMMODITY MARKET MONITOR

Cotton | Sugar | Soybean | RM Seed | Castor seed | Turmeric | Jeera

OUTLOOK

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The Cotton Association of India has pegged India’s 2017-18 cotton crop at

360 lakh bales (of 170 kg each) against 337.25 lakh bales in 2016-17.

India’s 2017/18 cotton exports are likely to jump nearly 30% from last year

to a four-year high of 7.5 mn bales, against 6.5 mn bales estimated earlier.

Climbing global cotton prices & a weaker rupee (which has fallen more

than 6% in 2018) have boosted overseas demand for India’s cotton which

has led to surge in exports. India has already exported 6.3 mn bales so far

in the marketing year starting Oct.

ICE cotton futures hit four-year highs in May on buying from Chinese

hedge funds. Increased supply from India could limit the rally in

international cotton prices & Indian exports will compete with shipments

to Asia from exporters like the US, Brazil and Australia. Pakistan,

Bangladesh, China & Vietnam are the main buyers of Indian fibre.

Meanwhile, the India’s cotton imports could drop to 1.2 million bales in

2017/18 from 3 million bales the year before. India usually imports long

staple cotton from the United States and Egypt.

As per CAI estimate, India's cotton consumption is likely to rise 5.3% in

2017/18 from the year before to 32.4 million bales.

A pick-up in local consumption amid higher exports is likely to erode

India's cotton stocks. India could end the 2017/18 season with closing

stocks of less than 2 million tonnes, the lowest in decades.

The Indian Textiles and Clothing industry has registered 5.37% export

growth in 2017 as against 3.94 % globally, as per Southern India Mills

Association (SIMA).

As per the preliminary sowing report, the cotton acreage till 25 May 2018

is 7.82 lakh hectares, against 11.24 lakh hectares sown last year till same

date and normal of 10.33 lakh hectares till date. The area coverage has

been mainly reported from Haryana and Punjab. Demand for cotton

seeds in Punjab was reported to be so far is 20-30% less than last year.

The cotton acreage for 2018-19 is expected to drop by 15-20% as farmers

are shifting to other crops in which they see higher returns.

Acreage in Maharashtra & Telangana is expected to decline for 2018-19

crop as farmers have suffered huge losses due to lower price & the pink

bollworm attack. Most farmers here are planning to shift to soy bean.

The May USDA report has pegged the world cotton production 2018-19 at

121.19 mn bales (of 480-lb) against 122.43 mn bales in 2017-18 & 106.66 mn

bales in 2016-17. The ending stocks are estimated at 83.75 mn bales in

2018-19 against 88.21 mn bales in 2017-18 and 86.92mn bales in 2016-17.

Mandi Price in Rs/ Quintal

28-05-2018 21-05-2018 %Change

Kadi 29 mm 19839 19839.68 0.00

Rajkot (29 mm) 20902.1 20435.1 2.29

Abohar(medium staple)

19198.1 18859.46 1.80

14000

16000

18000

20000

22000

24000

No

v-15

Jan

-16

Mar

-16

May

-16

Jul-1

6

Se

p-1

6

De

c-16

Feb

-17

Ap

r-17

Jun

-17

Au

g-1

7

Oct

-17

Jan

-18

Mar

-18

May

-18

Cotton - 29 mm - Rajkot

FUNDAMENTAL SUMMARY

Price Drivers Impact

Lower acreage for 2018-19 Bullish

Closing stocks for 2017-18 estimated to be less than 2 million tonnes, the lowest in decades as per CAI

Bullish

Higher overall 2017-18 cotton production over last year

Bearish

Higher export demand of Indian cotton due to high global cotton prices and weaker India rupee

Bullish

Higher domestic consumption in 2017-18 Bullish

Bullish international cotton futures due to buying from Chinese hedge funds and lower 2018-19 global production estimate over last year

Bullish

Based on primary and secondary factors

Fundamental Report COTTON

COTTON ASSOCIATION OF INDIA

INDIA: COTTON BALANCE SHEET, SEASON 2016-17 & 2017-18

Estimated as on 28 May 2018

Details 2017-18 2016-17

(in lakh b/s) (in lakh b/s)

Opening Stock 30.00 36.50

Crop 360.00 337.25

Imports 20.00 27.00

Total Supply 410.00 400.75

Mill Consumption 280.00 265.00

Consumption by SSI Units 29.00 27.00

Non- Mill Consumption 15.00 15.75

Total Domestic Demand 324.00 307.75

Available Surplus 86.00 93.00

Exports ~75.00 63.00

Closing Stock Less than 20 lakh bales

30.00

0


Soybean prices in India have been on an uptrend due to tight supply

position, higher demand by mills for crushing and bullish tone at CBOT.

The country’s 2017-18 soybean output is pegged by SOPA at 83.5 lakh

tonne, about 24% lower than 109 lakh tonne in the previous year. The

arrivals are diminishing and further supporting the price.

The government has increased the MSP of soybean by 9% to Rs.3325/qtl

in the 2018-19 kharif season. This, along with expected normal monsoon,

will further add to more acres under soybean this season.

Soybean acreage is expected to be higher by 15-20% in coming kharif

season as prices are attractive for the farmers. Disillusioned cotton and

pulses farmers are likely to shift to soybean.

There are rumours in the market that Government is likely to raise the

incentive under Merchandise Exports from India Scheme on soymeal to

10% of free - on - board value from the current 7%, which will further raise

the soybean demand.

SOPA has indicated a tight supply position of soybean with carry forward

stock projected to be only one lakh tonne at the end of oil year 2017 18.

The country’s soybean meal and soy product exports volume has been

revised upwards to 15 lakh tonne from earlier estimate of 12.5 lt for 2017-

18 which has led to lowering of ending stocks.

India’s soybean imports this year are likely to touch a record high of

around 1 lakh tonne as domestic supply tightened due to low production.

Soybean at CBOT is showing a firm tone as top importer China returned

to the U.S. market, seeking cargoes amid easing trade tensions between

the two countries. However China's domestic demand is weak and Brazil

has a record crop to sell.

Brazil’s production for 2016-17 & 2017-18 is pegged at 114.10 MMT, 117

MMT and 117 MMT respectively.

The 2018/19 outlook for U.S. soybeans is for higher supplies, crush,

exports, and lower ending stocks compared to 2017/18. Soybean planting

is progressing ahead of previous year and 5-year average in U.S.

Argentina’s 2017-18 production is pegged at 39 MMT, significantly below

57.8 MMT produced last year, due to dry weather and drought. For 2018-

19 it is projected to bounce back to 56 MMT.

As per the May USDA report, 2018/19 global soybean production is

projected at 354.54 MMT, against 336.70 MMT in 2017/18 and 350.34

MMT in 2016/17. However the 2018/19 ending stocks are projected lower

at 86.70 MMT against 92.16 MMT in 2017/18 and 96.39 MMT in 2016/17.

2700

2980

3260

3540

3820

4100

4380

De

c-15

Feb

-16

Ap

r-16

Jul-1

6

Se

p-1

6

No

v-16

Jan

-17

Mar

-17

Jun

-17

Au

g-1

7

Oct

-17

De

c-17

Mar

-18

May

-18

Soybean Indore

FUNDAMENTAL SUMMARY


Expected Increase in soybean acreage in 2018-19 due to good returns last year and expectation of normal monsoon

Bearish

Strong demand for crushing Bullish

Market rumours about government increasing the incentive on soymeal export from 7% to 10%

Bullish

Diminishing arrivals Bullish

2017-18 soybean output estimated 24% lower than last year & tight supply position with low ending stocks

Bullish

Record high soybean imports into India touching 100,000 tonnes

Bearish

Bullish tone at CBOT amid easing trade tension between US and China

Bullish

Based on primary and secondary factors


28-05-2018 21-05-2018

%Change

Indore 3717 3787 -1.85

Kota 3675.2 3740 -1.73

Nagpur 3753.6 3843.05 -2.33

Fundamental Report SOYBEAN

0


According to the market participants, rapeseed production in EU may be

lower this year due to unfavourable crop development conditions in top

producing countries like Germany, France, the UK and Poland. Germany

rapeseed would fall 3.3 percent to 4.12 million tonnes due to warm

weather in the major producing regions which may affect the growth of

the plants.

Demand of mustard seed is higher than normal due to rise in demand from

mustard oil consumption centres. Usage of mustard oil usually remains on

the higher side during the summer season mainly from good demand from

pickle Industry.

The government of Haryana has decided to continue the procurement of

mustard seed till 31st May. They have decided to procure mustard from all

the farmers who could not sell their mustard crop earlier due to rain,

immaturity of the crop or left out from the roster. Hafed has already

procured 2.28 lakh MT of mustard crop in Haryana.

According to agmark data, all India mustard arrivals in fourth week of May

is reported at 67.62 thousand tonnes as compare to 78.85 thousand

tonnes of arrivals in third week of May.

India’s mustard meal exports in the month of April 2018 were 97.89

thousand MT(provisional), higher by 316 per cent against 23.499 thousand

MT in March 2018. Average FoB price of meal in April is recorded at $247

per tonne which is lower than average price of $249 per tonne in the

month of March. Total mustard meal exports in financial year 2017-18 is

6.63 Lakh MT as against 2.14 lakh MT in the same time period in 2016-17.

India’s rapeseed oil imports in the month of April 2018 is 27.52 thousand

MT which is 24.82 percent lower than the import of March 2018 of 36.61

thousand MT. Total imports of rapeseed oil from November 2017 to April

2018 were 13.18 lakh MT which is higher than last year imports of 11.84 lakh

MT in the same time period. Despite increase in import duty on rapeseed

oil, imports have increased due to higher domestic prices.

According to latest update from SEA of India, the total production of

mustard seed in the current year is estimated at 6.33 million metric tonnes

which is 3.72 per cent lower than the last year production estimate of

6.575 million MT.


28-05-2018 21-05-2018 %Change

Jaipur

4020.65 4000 0.52

Alwar

3999.25 3986.4 0.32

Sriganga Nagar

3819 3750 1.84

3,500

3,750

4,000

4,250

4,500

4,750

5,000

5,250

Jun

-15

Au

g-1

5

No

v-15

Feb

-16

Ap

r-16

Jul-1

6

Oct

-16

Jan

-17

Mar

-17

Jun

-17

Se

p-1

7

De

c-17

Feb

-18

May

-18

Rapeseed & Mustard-Black - 42% oil content : Jaipur

FUNDAMENTAL SUMMARY


Unfavourable weather condition in rapeseed producing countries of E.U.

Bullish

Higher domestic demand of mustard oil

Bullish

Continuation of procurement activities in Haryana

Bullish

Lower domestic mandi arrivals Bullish

Higher mustard meals export Bullish

Lower rapeseed oil imports Bullish

Based on Primary & Secondary Sources

Fundamental Report RM SEED

0


Despite record domestic prices, jeera exports have not slowed in

2017-18 season. As per the commerce department, in FY17-18, the

country exported about 127,000 tonnes of cumin (jeera) during

April-February, up by 13.2 per cent against last year’s exports of

112,000 tonnes. India was to export 15,000 tonnes of jeera in March,

which would take yearly exports volumes to 142,000 tonnes, up 10.7

per cent over 128,000 tonnes during 2016-17.

In FY 2018-19, the export volumes of jeera are expected to be higher

due to the fact that the prices have been on lower side for the new

season crop due to record production. However, exports demand

may shift to countries like Syria and Turkey as harvest starts in the

month of June. According to market sources, Syrian Cumin seed

crop is likely to be around 30,000 to 40,000 metric tonnes this year,

while Turkey is likely to harvest between 12,000 to 15,000 metric

tonnes.

Export demand of Indian jeera has slightly improved due to good

demand from China, UAE etc. Stockiest are also active in the market

due to lower prevailing market prices and expectation of getting

higher prices in the coming months.

According to the third advance estimate for Gujarat, this year

production estimated at 292,000 tonnes, up by 47.5 per cent

primarily on higher acreage and favourable climate. Jeera

production for the previous year was put at 198,000 tonnes.

According to the agmark, all India jeera arrivals in the fourth week

of May is reported at 4.21 thousand MT which is 23.73 per cent

lower than third week of May arrivals of 5.52 thousand MT. Despite

higher production this year, arrivals are lower as farmers are

holding their stock due to lower domestic prices. However,

corrections at higher levels is expected due to jump in supplies in

case of improved prices.


28-05-2018 21-05-2018 %Change

Unjha 16145.45 16014.15 0.82

Jodhpur 14000 13750 1.82

Junagadh 14000 13750 1.82

13000

15000

17000

19000

21000

Feb

-16

Ap

r-16

Jul-1

6

Se

p-1

6

No

v-16

Jan

-17

Ap

r-17

Jun

-17

Au

g-1

7

Oct

-17

Jan

-18

Mar

-18

May

-18

Cumin Seed (Jeera) - Unjha

FUNDAMENTAL SUMMARY


Expectation of higher exports Bullish

Higher production estimate Bearish

Lower arrivals in the domestic mandi Bullish

Farmers holding the stock Bullish


Fundamental Report JEERA

0


According to the Consortium of Pepper Growers’

Organisations, the growers were estimating around 65,000-

70,000 tonnes for the current season, but they may end up

harvesting around 55,000-60,000 tonnes due to the drought

last year in the pepper growing regions

Arrivals in Kerala increased by a third to 145 tonnes for the 4

weeks in May in 2018 from 111 tonnes during the same period

last year in 2017

The Union Government has permitted 78 companies to import

duty free 2,500 tonnes of black pepper under the Indo-Sri

Lankan FTA which would help in tweaking the import price

Since the banning of imports below the MIP value added

exports have come to a stand still and in this regard the value

added pepper exporters in Karnataka are hoping the centre

will take a favourable decision in the withdrawal of MIP

Vietnams exports for 4 months of 2018 rose by 15.5 % to 88000

tonnes from 74000 tonnes compared to the previous year but

the revenue fell by a third to 311$ million from 413$ million

according to the official customs data due to the fall in global

prices

Imports of black pepper from Vietnam to china have gone up

considerably from 3000 tonnes in 2015 to 16000 tonnes in 2017

owing to excess global production. Because of an increased

activity in imports in china this year global prices are expected

to recover in the near term


28-05-2018 21-05-2018 %Change

Kochi 38833.35 38550 0.74

Kannur 31500 31200 0.96

Chikmagalur 35860 35000 2.46

35000

43000

51000

59000

67000

75000

Jan

-14

May

-14

Se

p-1

4

Jan

-15

May

-15

Se

p-1

5

Jan

-16

May

-16

Se

p-1

6

Jan

-17

May

-17

Se

p-1

7

Jan

-18

May

-18

Pepper-Malabar Garbled : Cochin

FUNDAMENTAL SUMMARY


Ongoing arrivals Bearish

Increased Production Bearish

Reduction in import due to MIP

Bullish

Increased World Supply Bearish


Fundamental Report PEPPER

0


Castor complex have remained weak tracking subdued demand in spot markets for Castor oil and Castor meal. It is expected that lower demand from soap and other consuming industries and also sufficient availability in the spot markets mainly put pressure on castor seed futures prices.

According to Deesa based traders, demand for Castor oil and Castor meal is very weak at present but market players are expecting demand to improve in coming days as prices are at lower levels.

Stockiest and crushers are expecting demand from paint, soap and lubricant industries to improve in coming weeks.

According to the Solvent Extractors' Association of India (SEA) data, Castor Oil (First grade) FOB Kandla in export priced at $1245 per tonne.

Although export of castor oil and castor meal is on the lower side, but likely to perform well as it did in FY 2017-18. The country exported around 620,000 tonnes of castor oil in 2017-18, which was 11.5 per cent higher than last year.

Castor meal exports have grown by 42 per cent to 573,000 tonnes in 2017-18, as per the latest export data from the Solvent Extractors’ Association of India. The rise in meal exports has been primarily attributed to pick up in demand from South Korea, the largest importer of castor meal from India. About 82 per cent of India’s castor meal is exported to South Korea. Other key importers are the Taiwan, Japan and France.

As per the Ministry of Agriculture 3rd Advance Estimates for 2017-18, Castor seed production in India is 14.90 lakh tonnes as compared to 13.76 lakh tonnes in 2016-17. The all India Castor seed production target for 2017-18 is 19.00 lakh tonnes.

As per the 3rd advance estimates released by the Department of

Agriculture Gujarat Castor seed production in Gujarat for 2017-18

estimated at 12.69 lakh tonnes as against 12.55 lakh tonnes in 2016-17.

According to 3rd advance estimates by Department of Agriculture Rajasthan, Castor seed production in 2017-18 estimated at 1.54 lakh tonnes as compared to 1.90 lakh tonnes last year.

According to the Solvent Extractors' Association of India (SEA), Castor seed production in 2017-18 is likely to increase by at 14.33 lakh tonnes as compared to 10.55 lakh tonnes estimated in 2016-17.

Castor seed new stock position at NCDEX approved warehouses as on 27th May 2018 stood at 44,278 tonnes as against 96,145 tonnes same period last year.


28-05-2018 21-05-2018 %Change

Deesa 3974 4019 -1.11

Patan 3870 3945 -1.90

Mahesana 3820 3840 -0.52

2800

3160

3520

3880

4240

4600

4960

Feb

-15

May

-15

Au

g-1

5

No

v-15

Jan

-16

Ap

r-16

Jul-1

6

Oct

-16

Jan

-17

Mar

-17

Jun

-17

Se

p-1

7

De

c-17

Mar

-18

May

-18

Castor - Deesa

FUNDAMENTAL SUMMARY


Subdued demand for Castor oil and Castor meal

Bearish

Traders expecting improvement in demand from paint, soap and lubricant Industries

Bullish

Higher 2017-18 Castor production compared to last year

Bearish

Castor meal export demand from South Korea

Bullish

Profit booking at higher levels Bearish

Rajasthan estimating lower Castor production for 2017-18

Bullish


Fundamental Report CASTOR SEED

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Fundamental Report TURMERIC

Turmeric futures and spot markets traded range bound with slight

weakness. Farmers do not want to sell their produce at lower

prices hence there is a continuous weakness in arrivals at the

markets. But in the coming days, arrivals may increase as prices are

likely to be supported.

Turmeric stocks reported lower during current year in the spot market. Currently turmeric stocks in Nizamabad (both old and new crop) were estimated around 5.15 lakh bags (1 bag = 70 kgs) as compared to around 7.00 lakh bags same time last year.

As per market sources, Turmeric prices for the long-term are likely

to be supported by better domestic purchases and exports.

This year, good and dried turmeric is being seen in the markets and

in the coming days, in view of the uptrend, traders and stockists

can be seen active for stocking.

Meanwhile, traders are waiting for the monsoon. As per the India

Meteorological Department (IMD), the southwest monsoon is

expected to hit Kerala on May 29, three days ahead of its normal

onset date. Turmeric sowing generally starts after monsoon rains.

As per market sources, the production of Turmeric in entire India

this year is estimated to be about 58 to 62 lakh bags (70 kg bags

per bag). And demand from both domestic and export can be 70 to

75 lakh bags, resulting in the possibility of low carry forward stock

in the coming year, which is likely to push price of Turmeric. But in

July and August rainfall figures may play a major role for the prices.

As per the Ministry of Agriculture, the All India Turmeric production

in 2017-18 is estimated at 10.61 lakh tonnes as against 10.56 lakh

tonnes estimated in 2016-17.

As per the Department of Commerce monthly trade data Turmeric

exports from India during Apr-Feb 2018 stood at 98,486.95 metric

tonnes as compared to 111,695.23 metric tonnes in Apr-Feb 2017.

Turmeric exports to Iran stood at 12,626 tonnes, U.A.E exports

were 7,243 tonnes, and USA it was 6892 tonnes.

Turmeric stocks at NCDEX approved warehouses as on 28th May

2018 stood at 5,633 metric tonnes as against 6,797 metric tonnes in

corresponding period last year.


28-05-2018 21-05-2018 %Change

Nizamabad 7379 7400 -0.28

Erode 6980 7100 -1.69

Sangli 7800 8400 -7.14

4800

5500

6200

6900

7600

8300

9000

9700

Jun

-14

No

v-14

Ap

r-15

Se

p-1

5

Mar

-16

Au

g-1

6

Jan

-17

Jun

-17

No

v-17

May

-18

Turmeric : Unpolished fingers : Nizamabad

FUNDAMENTAL SUMMARY


Farmers do not want to sell their produce at lower prices

Bearish

Higher arrivals of new crop Bearish

Lower stocks availability Bullish

Higher production in 2017-18 Bearish

Lower exports during current marketing year 2017-18

Bearish

Early arrivals of monsoon Bearish


0


Southern flour mills worried over

wheat import duty hike

Wheat procurement surpasses

government's target by 6.25% to

over 34 million tonnes

Cotton exports could hit 4-year high

on price rally, weak rupee

Pulses importers seek more time

Maharashtra farmers say they’ll use

GM seeds

Re-exporters allowed to import

pepper

Centre unveils model contract

farming law

Pulses importers seek more time

Centre may let millers process

groundnut; supply oil via PDS

To purchase the India Commodity Year

Book 2018, contact us at

[email protected]

Official Production Estimates

Second advance estimates 2017-18 &

previous years’ estimates : Second

Advance Estimates 2017-18

MINIMUM SUPPORT PRICE (Rs/Qtl.)

Commodity 2016-17 2017-18

KHARIF

Paddy Common 1470 1550

paddy grade A 1510 1590

Jowar Hybrid 1625 1700

Jowar Maldandi 1650 1725

Bajra 1330 1425

Ragi 1725 1900

Maize 1365 1425

Tur 5050 5450*

Moong 5225 5575*

Urad 5000 5400*

Groundnut 4220 4450*

Sunflower seed 3950 4100 #

Soyabean black 2775 3050

Sesamum 5000 5300 #

Nigerseed 3825 4050 #

Cotton(Medium Staple) 3680 4020

Cotton(Long Staple) 4160 4320

RABI

Commodity 2016-17 2017-18

Wheat 1625 1735

Barley 1325 1410

Gram 4000* 4400

Masur (Lentil) 3950* 4250

Rapeseed/Mustard 3700* 4000

Safflower 3700* 4100

Wheat 1625 1735

*includes bonus of Rs 200 per quintal

# includes bonus of Rs 100 per quintal

THE WEEK THAT WAS

Commodity Latest Fortnight ago

Month ago Year ago

28-May-18 14-May-18 30-Apr-18 29-May-17

Soyabean 3717 3740 3737 2881

RM seed 4020.65 3950 3873.95 3850

Turmeric 7379.1 7510 6963.75 5410

Cotton 20902.1 20217 20135.14 20588.7

Pepper 38833.35 38470 39220 52016

Jeera 16145.45 16116.65 15850 18176

Castor 3964.65 4047 4015 4470

PRICE TRACKER

Link for commodity-wise and market-

wise prices and arrivals:

http://agmarknet.gov.in/PriceAndArriv

als/CommodityWiseDailyReport2.aspx

https://www.thehindubusinessline.com/todays-paper/tp-agri-biz-and-commodity/article24019438.ece


https://economictimes.indiatimes.com/news/economy/agriculture/wheat-procurement-surpasses-governments-target-by-6-25-to-over-34-million-tonnes/articleshow/64353907.cms




https://economictimes.indiatimes.com/news/economy/agriculture/cotton-exports-could-hit-4-year-high-on-price-rally-weak-rupee/articleshow/64317196.cms





https://economictimes.indiatimes.com/news/economy/agriculture/maharashtra-farmers-say-theyll-use-gm-seeds/articleshow/64298409.cms

https://economictimes.indiatimes.com/news/economy/agriculture/maharashtra-farmers-say-theyll-use-gm-seeds/articleshow/64298409.cms



https://economictimes.indiatimes.com/news/economy/agriculture/centre-unveils-model-contract-farming-law/articleshow/64277360.cms

https://economictimes.indiatimes.com/news/economy/agriculture/centre-unveils-model-contract-farming-law/articleshow/64277360.cms




http://eands.dacnet.nic.in/Advance_Estimate/2nd_Advance%20Estimates-2017-18.pdf

http://eands.dacnet.nic.in/Advance_Estimate/2nd_Advance%20Estimates-2017-18.pdf

http://agmarknet.gov.in/PriceAndArrivals/CommodityWiseDailyReport2.aspx

http://agmarknet.gov.in/PriceAndArrivals/CommodityWiseDailyReport2.aspx

0


0


Answers for 22 May 2018 Quiz:

Q1. Name the African country with which India signed a MoU (Memorandum of Understanding) to import import Tur dal in 2016, and now India is having to import tur dal from this country despite huge domestic tur stocks already lying. Ans1. Mozambique Q2. Wheat procurement for Rabi Marketing Season 2018-19 is still below the government's target. (True or False) Ans2. True

People who gave correct answers:

Ashwani Kumar Maheshkumar Ramaswamy

Gharat Priti Anilkumar Parvathaneni

Yogesh Sanwarmal Sharma Ravi Tanwar

Ajaysingh Thakur Supriya

Sudhakar Reddy Soma Pankaj Kumar Ladha

Swapnil M. Paithane Prem Kumar

Gopi Chand Sanjay Singh

Ishant Jai Kalra

Praveen Kumar Omkar

Abhishek Rajput Naresh Sharma

Sandeep Kumar Yadav Satpal

Amit Thakkar Vikram Singh

Niraj Singh Bisht Om Prakash

S.Narendra Vineet Poonia

K B Nagaraja Anil Solanki

Anjali Rajesh Kumar Vishwkarma

Moumita Samanta Vikas Kumar

Jitendra Tyagi Dara Kartik Kumar

Abhineet Srivastava Parasuraman

Babloo Kumar Chetan V Kulkarni

Sarthak S Shirkhedkar Abhilash John P A

Devaraj L Pradeepa

Lucky Winner:

Moumita Samanta (Research analyst, advisorymandi.com)

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Advisory Team

Basant Vaid Head: TCIG [email protected]

Sreedhar Nandam Vice President: SCM [email protected]

Research Team

Suresh Solanki Assistant Manager: TCIG [email protected]

Kamna Malhotra Economist: TCIG [email protected]

Akash Jaiswal Research Analyst: TCIG [email protected]

Ansh Aggarwal Senior Officer: Trade Support [email protected]

For any research queries, contact us at [email protected]

Disclaimer:

This consultancy report has been prepared by National Collateral Management Services Limited (NCML) for the sole benefit of the

addressee. Neither the report nor any part of the report shall be provided to third parties without the written consent of NCML. Any

third party in possession of the report may not rely on its conclusions without the written consent of NCML. NCML has exercised

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from errors, omissions or misrepresentations made by others. Any recommendations, opinions and findings stated in this report are

based on circumstances and facts as they existed at the time of preparation of this report. Any change in circumstances and facts on

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© National Collateral Management Services Limited (NCML) 2017

ncomm ncml commodity market monitor date: 29-05-2018 rm … · growth in 2017 as against 3.94 %...

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