COMMODITY DAILY REPORT (AGRI) 11th October, 2024

SPICES

COMMODITY EXPIRY DATE S2 S1 Pivot R1 R2 Trend

Coriander (Oct) 18-10-2024 7136.67 7167.33 7210.67 7241.33 7284.67 Down

Coriander (Nov) 20-11-2024 7325.33 7362.67 7411.33 7448.67 7497.33 Down

Jeera (Oct) 18-10-2024 26420.00 26635.00 26765.00 26980.00 27110.00 Up

Jeera (Nov) 20-11-2024 25886.67 25968.33 26041.67 26123.33 26196.67 Down

Turmeric Oct) 18-10-2024 12772.00 12992.00 13240.00 13460.00 13708.00 Down

Turmeric (Dec) 20-12-2024 13594.00 13708.00 13904.00 14018.00 14214.00 Down

OILSEEDS

COMMODITY EXPIRY DATE S2 S1 Pivot R1 R2 Trend

Castor seed (Oct) 18-10-2024 6694.67 6733.33 6796.67 6835.33 6898.67 Down

Castor seed (Nov) 20-11-2024 6790.67 6826.33 6886.67 6922.33 6982.67 Down

OTHER COMMODITIES

COMMODITY EXPIRY DATE S2 S1 Pivot R1 R2 Trend

Kapas(Apr) 30-04-2025 1565.00 1570.00 1577.00 1582.00 1589.00 Sideways

Cocud (Dec) 20-12-2024 2901.00 2931.00 2949.00 2979.00 2997.00 Up

Cocud (Jan) 20-01-2025 2867.33 2895.67 2914.33 2942.67 2961.33 Up

Guar seed (Oct) 18-10-2024 5354.00 5427.00 5473.00 5546.00 5592.00 Up

Guar seed (Nov) 20-11-2024 5469.33 5525.67 5565.33 5621.67 5661.33 Up

Guar gum (Oct) 18-10-2024 10924.67 11089.33 11188.67 11353.33 11452.67 Up

Guar gum (Nov) 20-11-2024 11053.67 11217.33 11323.67 11487.33 11593.67 Up

Mentha Oil (Oct) 31-10-2024 909.70 916.20 921.50 928.00 933.30 Sideways

Mentha Oil (Nov) 29-11-2024 915.60 924.80 930.90 940.10 946.20 Sideways

**One has to follow the trend and see the price only at closing. This is not for Intra day trading.

1
 COMMODITY DAILY REPORT (AGRI)

SPICES
Turmeric prices are expected to trade on weaker note with emerging concerns over exports. Export demand has ben subdued that will put pressure on
turmeric prices. Stocks have been tighter that will cap excessive losses. Export increased in Jul’24 as India exported about 15.11 thousand tonnes of
turmeric during Jul’24 as compared to 13.8 thousand tonnes of previous year wherein total export during Apr-Jul were reported down by 14% Y-o-Y. In
the near term, turmeric prices are expected to fluctuate within the range of ₹14000 to ₹14900 per quintal.

Jeera prices slumped on profit booking on higher levels. Dampening export prospects due to mounting tension in Middle East due to ongoing conflict
between Israel and Iran is likely to cap the gains. Exports have been impressive so far in year 2024-25 as Indian jeera remained more competitive as
compared to other origins like Syria and Turkey. In Jul 2024, India exported 17.40 thousand tonnes of jeera, a significant 142% increase compared to
7.1 thousand tonnes in July 2023. Seed demand of Jeera is likely to improve in wake of commencement of sowing activities from next month. Jeera
prices are expected to trade within a range of ₹25,800 to ₹26,700 per quintal in the near term.

Dhaniya prices are expected to trade on positive bias mainly due to falling arrivals. Farmers and stockists are reluctant to release their stock on recent
fall in prices. Ongoing festive buying and expectation of rise in seed demand in coming weeks is likely to support prices. Sowing activities are likely to
commence in coming months and that will lead to rise in seed demand for sowing. Market is running with heavy stocks wherein export enquires have
been limited that will restrict the major gains in prices. Similarly, buying from China and Bangladesh has reduced in recent months that affected overall
dhaniya export adversely. India exported 3.09 thousand tonnes of dhaniya in Jule’24 down by 66% Y-o-Y. Dhaniya prices are likely to trade in
range of ₹7300 to ₹7750.

OTHER COMMODITIES
Guar seed futures are likely to trade sideways to higher as heavy rainfall in Rajasthan caused crop damage. Gains are likely to be limited mainly due to
improved supply prospects. Harvesting activities are likely to pick up that will lead to rise in overall supplies at major trading centers. New crop is
expected to surge up in Oct that will put pressure on market sentiments. Guar seed production is anticipated to be down by 15%-20%, to around 8.5
lakh tonnes. Guar gum export rose 29% Y-o-Y in Jul’24 reported at 19.75 thousand tonnes. Sharp correction in crude oil prices will also weigh on
market sentiments. In terms of pricing, guar seed prices are expected to find support around ₹5,300, with resistance around ₹5730.
Similarly, guar gum prices are likely to be supported around ₹10,700, with resistance at ₹11,300.

Cotton prices are likely to trade mixed to higher on reports of crop damage in Rajasthan due to untimely rainfall. About 53 thousand bales of cotton
arrived at different trading centers across India mostly from Gujarat. Lower exports to Bangladesh and dampening economic outlook followed by
mounting tension in Middle East is likely to put pressure on prices. Fresh arrivals are likely to surge up with advancement of harvesting activities that
will keep market sentiments down. However, weakness is likely to be limited because of lower production outlook of cotton in India. Cotton production
may fall at least by 10%-15% Y-o-Y to 300-310 lakh bales in year 2024-25 due to decline in acreages under cotton. Cotton MCX prices are expected to
trade in the range of ₹56,000 to ₹57,500 per candy, while Kapas April 2025 futures are likely to trade between ₹1,550 and ₹1,600 per quintal. Cocud
(cottonseed oilcake) prices are projected to trade between ₹2880 and ₹2970 per quintal.

Mentha oil prices are expected to trade on positive note due to reduced supplies at major trading centers. However, subdued export is still major
concern as menthol exports dropped by 4% year-on-year during April-Jul 2024, reaching 4019 tonnes. Buying from China reduced during Apr-Jul’24
reported at 1832 tonnes down by 28% Y-o-Y. European countries like the Netherlands, France, and the Philippines also showed strong buying interest.
In the near term, mentha oil prices are expected to trade within the range of ₹900 to ₹960 per kilogram.

Castor seed prices are expected to down on surging selling pressure supported by weakening crushing demand. Supplies increased on recent gains
wherein a castor oil export enquires remained slower in recent weeks. Weaker crop prospects due to lower acreages is likely to cap the losses as castor
seed sowing area dropped by 17% Y-o-Y due to adverse weather condition. Castor seed prices are likely to trade in range of ₹6810-₹6950
levels.

**One has to follow the trend and see the price only at closing. This is not for Intra day trading.

2
 COMMODITY DAILY REPORT (AGRI)

Vandana Bharti (AVP - Commodity Research) Boardline : 011-30111000 Extn: 625 vandanabharti@smcindiaonline.com
Ravi Shankar Pandey (Sr. Research Associate) Boardline : 011-30111000 Extn: 674 ravi16@smcindiaonline.com

E-mail: smc.care@smcindiaonline.com

Corporate Office: Mumbai Office: Kolkata Office:

11/6B, Shanti Chamber, Lotus Corporate Park, A Wing 401 / 402 , 4th Floor , 18, Rabindra Sarani, Poddar Court, Gate No-4,
Pusa Road, New Delhi - 110005 Graham Firth Steel Compound, Off Western 5th Floor, Kolkata - 700001
Tel: +91-11-30111000 Express Highway, Jay Coach Signal, Goreagon Tel.: 033 6612 7000/033 4058 7000
www.smcindiaonline.com (East) Mumbai - 400063 Fax: 033 6612 7004/033 4058 7004
Tel: 91-22-67341600, Fax: 91-22-67341697

Investments in securities market are subject to market risks, read all the related documents carefully before investing.
Registration granted by SEBI and certification from NISM in no way guarantee performance of the intermediary or provide any
assurance of returns to investors. The securities quoted are for illustration only and are not recommendatory. SMC is a SEBI
registered Research Analyst having registration number INH100001849. CIN : L74899DL1994PLC063609.

SMC Global Securities Ltd. (hereinafter referred to as “SMC”) is regulated by the Securities and Exchange Board of India (“SEBI”) and is licensed to carry on the business of broking, depository services and related
activities. SMC is a registered member of National Stock Exchange of India Limited, Bombay Stock Exchange Limited, MSEI (Metropolitan Stock Exchange of India Ltd.) and M/s SMC Comtrade Ltd is a registered
member of National Commodity and Derivative Exchange Limited and Multi Commodity Exchanges of India and other commodity exchanges in India. SMC is also registered as a Depository Participant with CDSL
and NSDL. SMC’s other associates are registered as Merchant Bankers, Portfolio Managers, NBFC with SEBI and Reserve Bank of India. It also has registration with AMFI as a Mutual Fund Distributor.
SMC is a SEBI registered Research Analyst having registration number INH100001849. SMC or its associates has not been debarred/ suspended by SEBI or any other regulatory authority for accessing /dealing in
securities/commodities market.
The views expressed by the Research Analyst in this Report are based solely on information available publicly available/internal data/ other reliable sources believed to be true. SMC does not represent/ provide any
warranty expressly or impliedly to the accuracy, contents or views expressed herein and investors are advised to independently evaluate the market conditions/risks involved before making any investment decision.
The research analysts who have prepared this Report hereby certify that the views /opinions expressed in this Report are their personal independent views/opinions in respect of the subject commodity.

DISCLAMIER: This Research Report is for the personal information of the authorized recipient and doesn't construe to be any investment, legal or taxation advice to the investor. It is only for private circulation and
use. The Research Report is based upon information that we consider reliable, but we do not represent that it is accurate or complete, and it should not be relied upon as such. No action is solicited on the basis of the
contents of this Research Report. The Research Report should not be reproduced or redistributed to any other person(s)in any form without prior written permission of the SMC. The contents of this material are
general and are neither comprehensive nor inclusive. Neither SMC nor any of its affiliates, associates, representatives, directors or employees shall be responsible for any loss or damage that may arise to any
person due to any action taken on the basis of this Research Report. It does not constitute personal recommendations or take into account the particular investment objectives, financial situations or needs of an
individual client or a corporate/s or any entity/s. All investments involve risk and past performance doesn't guarantee future results. The value of, and income from investments may vary because of the changes in the
macro and micro factors given at a certain period of time. The person should use his/her own judgment while taking investment decisions.
Please note that SMC its affiliates, Research Analyst, officers, directors, and employees, including persons involved in the preparation or issuance if this Research Report: (a) from time to time, may have long or short
positions in, and buy or sell the commodity thereof, mentioned here in or (b) be engaged in any other transaction involving such commodities and earn brokerage or other compensation or act as a market maker in the
commodities discussed herein(c) may have any other potential conflict of interest with respect to any recommendation and related information and opinions. All disputes shall be subject to the exclusive jurisdiction of
Delhi High court. All disputes shall be subject to the exclusive jurisdiction of Delhi High court.