z date: 14/08/2018 ncml commodity market monitorz castor
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Date: 14/08/2018 NCoMM
NCML Commodity Market Monitor
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⚫ • Cotton • Sugar • Soyben • RM Seed ⚫ • Castor seed • Turmeric • Jeera
NCoMM
NCML COMMODITY MARKET MONITOR
Cotton | Sugar | Soybean | RM Seed | Castor seed | Turmeric | Jeera
OUTLOOK
OTHER DATA Sowing progress | Advance estimates | Kharif and rabi MSP
ANSWERS & LUCKY WINNER OF PREVIOUS WEEK’S
Cotton | Soybean | RM Seed | Jeera | Castor Seed | Turmeric
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NCML COMMODITY MARKET MONITOR NCoMM
0
Date: 14/08/2018 NCoMM
NCML Commodity Market Monitor
Fundamental Report
• As per government’s sowing report, till 10th August 2018, cotton has
been sown in 112.60 lakh ha, 3.85% lower than 117.11 lakh ha sown last
year till date but 1.88 higher than normal area of 110.53 lakh ha on date.
Higher area is reported from the states of Telangana, Maharashtra,
Rajasthan, Haryana & a minor increase in from Gujarat. On the other
hand, lower area is reported from the Punjab, Karnataka, MP & AP.
• As per a survey by CAI, even this season, pink bollworm attack has been
witnessed in Maharashtra which will affect both the production and
productivity in the state. Some cotton farmers in the state have
diverted to Soybeans instead.
• CAB has estimated that the cotton production for the current cotton
season will be 370 lakh bales. India’s cotton production for 2017-18
stood at 365 lakh bales against 337.25 lakh bales last year, as per CAI.
• The carry-over stock at the end of the 2017-18 crop year is estimated at
only 16 la bales against 30 la bales at end of last year.
• The demand for export requirements is predominantly keeping the
domestic prices bullish. Amid concerns over a trade spat between the
US and China, Chinese importers have now turned to India for meeting
their cotton demand.
• The Cotton Advisory Board has estimated the exports current cotton
season of Oct 2017-Sep 2018, to be 70 lakh bales, 20% over last year.
Cotton exports from India may rise to 8 million bales during the 2018-19
period, with China alone accounting for 30-40%.
• Any fall in 2018-19 cotton production due to lower acreage may hamper
exports even as traders are expecting to cash in on the US-China trade
war after China levied additional a 25% import duty on US cotton.
• For 2018-19 season, the MSP of cotton (medium staple) was increased
by 28.11% to Rs 5,150 from Rs 4,020 and that of cotton (long staple)
26.11% to Rs 5,450 from 4,320 per quintal.
• The Cotton Corporation of India will procure the fibre directly from
farmers in Rajasthan at the minimum support price (MSP) and make the
payment to their accounts in the upcoming cotton season.
• The August USDA report has increased the world production estimate
by 400,000 bales over last month’s estimate with higher crop expected
in the US, Argentina, & Turkey. The 2018-19 production is estimated
lower at 120.53 mn bales against 123.51 mn bales in 2017-18
• USDA has pegged China’s 2018-19 cotton production at 26.50 mn bales
against 27.50 mn bales in 2017-18 and 22.75 mn bales in 2016-17.
Mandi Price in Rs/Quintal
13-08-2018 06-08-2018 %Change
Kadi 29 mm 13568.6 13357.7 1.58
Rajkot (29 mm) 13790.8 13691.3 0.73
Abohar 12042.5 11996.3 0.39
FUNDAMENTAL SUMMARY
Price Drivers Impact
Lower acreage so far as compared to the last year
Bullish
Pest attacks in Maharashtra Bullish
Chinese importers turning to India for meeting their cotton demand, higher exports
Bullish
Low closing stocks at end of current season
Bullish
Firm domestic demand due to festive season ahead
Bullish
Lower world cotton production expected in 2018-19
Bullish
Based on Primary & Secondary Sources
14000
16000
18000
20000
22000
24000
De
c-15
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
No
v-17
Jan
-18
Ap
r-18
Jun
-18
Au
g-1
8
Cotton - 29 mm - RajkotCOTTON ASSOCIATION OF INDIA
INDIA: COTTON BALANCE SHEET, SEASON 2016-17 & 2017-18
Details 2017-18 2016-17
(in la b/s) (in la b/s)
Opening Stock 30.00 36.50
Crop 365.00 337.25
Imports 15.00 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 70.00 63.00
Closing Stock 16.00 30.00
COTTON
0
Date: 14/08/2018 NCoMM
NCML Commodity Market Monitor
Fundamental Report
• As per the sowing report, soybean acreage till 10th August 2018 stands
at 110.72 lakh ha, 9.02% higher than 101.56 lakh ha sown last year till
same date and 1.70% higher than the normal of 108.86 la ha till date.
High price realisation against competitive crop & MSP increase has
resulted in high soybean acreage. Some farmers from cotton too have
shifted to soybean in Maharashtra.
• The present spell of rains has been positive for the standing crop and
the yields are expected to be favourable.
• Global Soybean prices have been under pressure amid an ongoing trade
war between the US and China, the world's largest soy importer. The
US tariffs against China include a 25% import tax on soybeans, making
American soybeans more expensive for one of its biggest customers.
• Since India is expecting a bumper crop of soybean this year, a
delegation of the SOPA is expected to visit China in August to create
market for Indian soybean exporters.
• Falling prices in international markets on soaring stockpiles is
discouraging Indian traders which has led to fall in soybean futures
prices in India too.
• The government raised the MSP of soybean for 2018-19 season by
11.44% to Rs 3399 per quintal from Rs 3050 per quintal.
• India’s 2017-18 soybean output is pegged by SOPA at 83.5 lakh tonne,
about 24% lower than 109 lakh tonnes in the previous year. NCML
estimates the output to rise 20% from last year. The carry forward stock
projected to be only one lakh tonne at the end of oil year 2017-18.
• On 13 July 2018, DGFT raised the incentive on soymeal under
Merchandise Export from Indian Scheme (MEIS) from 7% to 10% which
would make India’s export more competitive in international markets.
• Indian government had earlier hiked the import duty on crude soy oil
from 30% to 35% while on refined soy oil it was hiked from 35% to 45% to
curb cheaper imports and give positive price signals to farmers.
• As per the August USDA report, 2018/19 global soybean production is
projected to rise steeply to 367.10 MMT, after falling to 336.70 MMT in
2017/18 from 348.12 MMT in 2016/17. US 2018-19 harvest is pegged at
124.81 MMT against 119.52 MMT last year and 116.92 MMT in 2016-17.
• USDA expects global ending stocks at 105.9 million tons through 2019,
above the 99.5 million ton estimate in a Bloomberg survey.
Mandi Price in Rs/ Quintal
13-08-2018 06-08-2018 %Change
Indore 3466 3555 -2.50
Kota 3341.25 3474.75 -3.84
Nagpur 3560.25 3686.5 -3.42
FUNDAMENTAL SUMMARY
Price Drivers Impact
Steep hike in soybean acreage for 2018-19
Bearish
Expectation of good yields Bearish
Prospects of India’s export to China amidst US-Cina trade war
Bullish
Incentive on soymeal under MEIS raised from 7% to 10%
Bullish
Increase in import duty on Soy oil Bullish
Tight domestic supply position with low ending stocks amidst firm demand
Bullish
Falling prices in international market due to soaring stockpiles
Bearish
Based on Primary & Secondary Sources
2700
2980
3260
3540
3820
4100
4380
Jan
-16
Ap
r-16
Jul-1
6
Se
p-1
6
De
c-16
Feb
-17
May
-17
Jul-1
7
Oct
-17
De
c-17
Mar
-18
May
-18
Au
g-1
8
Soybean Indore
SOYBEAN
0
Date: 14/08/2018 NCoMM
NCML Commodity Market Monitor
Fundamental Report
• Crushers were in wait and watch mode as they were waiting for Nafed
auction, which so far has not been cleared by the government. As Central
government has directed Nafed to submit proposal for disposal of mustard
stock.
• Nafed is holding nearly 9 lakh tonnes of mustard seed procured this season
and they are expected to liquidate it in the coming days somewhere around
MSP rate.
• According to the agmark data, all India mustard crop arrivals in the second
week of August is recorded at 22.88 thousand MT which is 18.11 per cent
lower than the first week arrivals of 27.94 thousand MT.
• India’s mustard meal exports in the month of July 2018 were 46.364
thousand MT (provisional), lower by 49.31 per cent against 91.475 thousand
MT in June 2018. Average FoB price of meal in July is recorded at $217 per
tonne which is lower than average price of $227 per tonne in the month of
June.
• India’s rapeseed oil imports in the month of June 2018 is 10.648 thousand
MT which is 51.66 percent lower than the import of May 2018 of 22.03
thousand MT. Total imports of rapeseed oil from November 2017 to June
2018 were 1.920 lakh MT which is slightly lower than 2016-17 imports of
1.946 lakh MT in the same time period. Total imports of rapeseed oils have
decreased due to higher import duty.
• The government has increased the import duty on crude and refined soft
edible oils in March. Recently, duty on crude soft edible oils has been hiked
to 35 per cent and on soft oils to 45 per cent. The latest duty hike is aimed
at curbing cheaper imports and to provide better prices for the domestic
farmers.
• However, Edible oil traders and bulk buyers in the country are importing
duty-free edible oils through SAARC nations. Imports of edible oils are duty
free for signatories of the South Asian Free Trade Area (SAFTA) agreement,
which are mainly the SAARC nations. This loophole is turning out to be
counter-productive to protect farmers’ income by hiking the import duty
on edible oils.
• According to the latest report of USDA, World production estimate of
rapeseed is estimated at 72.15 million MT for 2018-19 which is 3.42 per cent
lower than the production estimate of 74.71 million MT of 2017-18. The
rapeseed crop forecast is significantly lower this month on reductions
production forecast for Australia, the European Union, Russia, and Ukraine.
•
Mandi Price in Rs/ Quintal
13-08-2018 06-08-2018 %Change
Jaipur 4350 4335.9 0.33
Alwar 4346.9 4328.85 0.42
Sriganga Nagar 4280 4250 0.71
FUNDAMENTAL SUMMARY
Price Drivers Impact
Release of stock by Nafed Bearish
Lower arrivals in the domestic mandis Bullish
Lower meal exports Bearish
Lower import of oils Bullish
Higher import tariff Bullish
Lower world production estimate Bullish
Based on Primary & Secondary Sources
3,500
3,750
4,000
4,250
4,500
4,750
5,000
5,250
Jul-1
5
Se
p-1
5
De
c-15
Mar
-16
Jun
-16
Se
p-1
6
De
c-16
Mar
-17
Jun
-17
Se
p-1
7
No
v-17
Feb
-18
May
-18
Au
g-1
8
Rapeseed & Mustard-Black - 42% oil content : Jaipur
RM SEED
0
Date: 14/08/2018 NCoMM
NCML Commodity Market Monitor
Fundamental Report
• According to the agmark, all India jeera arrivals in the second
week of August is reported at 3.25 thousand MT which is 54.86
per cent lower than the first week of August arrivals of 7.20
thousand MT. Arrivals of jeera in the domestic mandis has
decreased due to recent downward price correction. Moreover,
farmers are holding their stock in expectation of getting higher
prices in the coming days.
• Good monsoon report has capped the upside movement of the
jeera prices. Moreover, demand of jeera at higher prices has
decreased.
• According to DGFT, Indian jeera exports is reported at 1.44 lakh
MT in 2017-18 which is 31.8 per cent higher than the 2016-17
exports of 1.09 lakh MT. In the starting two months (April-May)
of 2018-19 Indian jeera exports is reported at 0.51 lakh MT which
shows exports of jeera is expected to be higher in 2018-19 than
2017-18.
• Export demand of jeera has shifted towards India due to crop
damage reports in Syria and Turkey due to heavy rainfall.
Moreover, firm dollar movement against rupee may further
support the jeera exports.
• According to the trade sources, at present all India stocks of
jeera is around 25-28 lakh bags. Stockists are also holding their
stock in expectation that prices may show firmness in the
coming days. Moreover, lower stock in International market is
also increasing the demand of Indian jeera.
• Record prices in 2017-18 triggered an increase in jeera sowing in
the top producing states of Gujarat and Rajasthan, leading to a
bumper crop of around 6 lakh tonne, against a normal 4-5 lakh
tonnes.
Mandi Price in Rs/ Quintal
13-08-2018 06-08-2018 %Change
Unjha 19646.2 19734.6 -0.45
Rajkot 18005 18050 -0.25
Jodhpur 18200 18500 -1.62
FUNDAMENTAL SUMMARY
Price Drivers Impact
Lower arrivals in the mandis Bullish
Farmers holding the stocks Bullish
Good monsoon report Bearish
Good export demand Bullish
Higher production estimate Bearish
Based on Primary & Secondary Sources
13000
15000
17000
19000
21000
Mar
-16
May
-16
Au
g-1
6
Oct
-16
De
c-16
Mar
-17
May
-17
Au
g-1
7
Oct
-17
De
c-17
Mar
-18
May
-18
Au
g-1
8
Cumin Seed (Jeera) - Unjha
JEERA
0
Date: 14/08/2018 NCoMM
NCML Commodity Market Monitor
Fundamental Report
• Castor seed markets have remained strong tracking firm demand from
castor oil and also deficient rainfall in major castor growing belts of
Gujarat kept the market sentiments firm. Good demand from soap,
paint and lubricant industries was also noted.
• As per traders although the export of castor meal so far this marketing
year was not encouraging, but it is expected to increase in the coming
months.
• Due to deficient rainfall in Gujarat the current Kharif Castor seed
acreage as on 02nd August 2018 has declined significantly to 1.50 lakh
hectares as compared to 2.72 lakh hectares last year.
• According to the state department of Agriculture Rajasthan, Castor
seed acreage in Rajasthan as on 10th August stood at 85.7 thousand
hectares as against 72.7 thousand hectares same period last year.
• All India castor seed acreage as on 10th August 2018 was 2.41 lakh
hectares which is down by 20 per cent from last year corresponding
period area of 3.02 lakh hectares. Lower acreage is reported from the
states of Telangana, Gujarat and Telangana, while higher acreage is
only reported from Andhra Pradesh.
• 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 is
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.
• As per the Solvent Extractors Association of India, Castor seed meal
exports in the month of July stood at 30,471 metric tonnes. The April-
July 2018 exports declined to 71,488 metric tonnes as against 1,55,015
metric tonnes during corresponding period last year.
• Castor seed stocks at NCDEX approved warehouses as on 12th August
declined by 14 per cent at 49,760 metric tonnes as compared to 50,151
metric tonnes.
Mandi Price in Rs/ Quintal
13-08-2018 06-08-2018 %Change
Deesa 4551 4534 0.37
Himatnagar 4400 4450 -1.12
Jodhpur 4200 4150 1.20
FUNDAMENTAL SUMMARY
Price Drivers Impact
Deficient monsoon rainfall over major castor growing belts
Bullish
Demand from soap, paint and lubricant industries
Bullish
Lower castor seed acreage during current season in Gujarat
Bullish
Overall higher castor production estimates 2017-18
Bearish
Lower castor meal exports Bearish
Profit booking at higher levels Bearish
Based on Primary & Secondary Sources
3500
3800
4100
4400
4700
5000
5300
Castor Deesa
CASTOR
0
Date: 14/08/2018 NCoMM
NCML Commodity Market Monitor
Fundamental Report
• Turmeric prices in spot as well as futures remained weak tracking
subdued domestic demand. Low trading activities were noted in most
of the markets across the country. As per traders, the spot market is
likely to get festive demand in coming weeks which can prompt buying
again in Turmeric.
• In Maharashtra, Turmeric new crop almost finished in Sangli mandi.
However, from Basmat and Hingoli region (late sowing zone) around
70–80 per cent of new crop has been traded. Turmeric sowing almost
completed in major growing areas.
• In Telangana, Turmeric sowing as on 08 August 2018 was reported at
46,718 hectares as compared to 44,299 hectares in the corresponding
period last year. Current sowing stands at 85 per cent of normal for the
season. Till now, Nizamabad region has reported around 14,094
hectares in acreage compared to last year’s 12,800 hectares and
Warangal (rural) has reported 5,521 hectares of acreage compared to
last year’s 4,250 hectares.
• In Andhra Pradesh, Turmeric sowing as on 01 August 2018 reported
12,320 hectares as compared to 7,998 hectares in the corresponding
period last year, 68% sowing completed from season normal.
• Turmeric acreage in Maharashtra can reach at the record level as
farmers benefited more than other crops last year as a result Turmeric
sowing has already been started in Jalgaon, Dhulia, Jalna, Aurangabad,
Akola and some other districts.
• According to market sources, around 30 to 32 lakh bags of Turmeric can
be produced in Maharashtra this year as compared to about 22 to 24
lakh bags last year. While in Erode 10 lakh bags, in Nizamabad 18 lakh
bags, in Duggirala and Cuddapah 7 lakh bags, in Warangal and
Kesamudram 4 lakh bags and also 4 lakh bags in other states. It means
total production may be around 75-77 lakh bags. If the rainfall remains
good then the output figure can reach up to 80 to 82 lakh bags but if
the rainfall remains weak then there could be a cut of 10 per cent in
estimates, which can restrict the production up to 70 - 75 lakh bags.
• As per DGFT Turmeric exports declined at 21,113 tonnes during April-May
2018 as against 24,999 tonnes in April-May 2017. In May 2018 exports
were 10,651 tonnes as against 11,203 tonnes during May 2017.
• As per the Ministry of Agriculture, the All India Turmeric production in
2017-18 is estimated at 11.63 lakh tonnes as against 10.61 lakh tonnes
estimated in 2016-17.
Mandi Price in Rs/ Quintal
13-08-2018 06-08-2018 %Change
Nizamabad 7143 7329 -2.53
Erode 6900 7100 -2.81
Coimbatore 7300 7300 0.00
FUNDAMENTAL SUMMARY
Price Drivers Impact
Subdued domestic and export demand in spot markets
Bearish
Higher acreage during current season in key Turmeric growing regions
Bearish
Expectation of festive demand in coming days
Bullish
Higher production estimates in 2017-18
Bearish
IMD forecasting overall normal rainfall in the country
Bearish
Lower exports during current season
Bearish
Buying at lower levels Bullish
Based on Primary & Secondary Sources
4800
5800
6800
7800
8800
9800
Turmeric Nizamabad
TURMERIC
0
Date: 14/08/2018 NCoMM
NCML Commodity Market Monitor
• As tur acreage rises, farmers
push for curbs on imports
• With 45% rain deficit, Gujarat
thirsts for water
• Scanty rain, pest attack seen
impacting cotton yield
• Basmati rice exporters face Iran
defaults woes; exports drop 7.2%
in Q1
• Cabinet approves release of
pulses procured from farmers
under Price Support Scheme to
States with Central Subsidy of
Rs. 15 per Kg for utilization
under Welfare Schemes
• CCI to directly procure cotton
from farmers in Rajasthan
• Moong drops below MSP even as
arrivals begin in N Karnataka
• Promoting pulses offtake via PDS
and related policies
To purchase the India Commodity
Year Book 2018, contact us at
Official Production Estimates
Third advance estimates 2017-18 &
previous years’ estimates : Third
Advance Estimates 2017-18
MINIMUM SUPPORT PRICE (Rs/Qtl.)
Commodity 2017-18 2018-19
KHARIF **NEW**
Paddy Common 1550 1750
paddy grade A 1590 1770
Jowar Hybrid 1700 2430
Jowar Maldandi 1725 2450
Bajra 1425 1950
Ragi 1900 2897
Maize 1425 1700
Tur/Arhar 5450 5675
Moong 5575 6975
Urad 5400 5600
Groundnut 4450 4890
Sunflower seed 4100 5388
Soyabean black 3050 3399
Sesamum 5300 6249
Nigerseed 4050 5877
Cotton (Medium Staple) 4020 5150
Cotton (Long Staple) 4320 5450
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
Commodity Latest Fortnight ago Month ago Year ago
13-Aug-18 30-Jul-18 14-Jul-18 14-Aug-17
Soybean 3466 3552 3553 3021
RM seed 4350 4353.35 4262.3 3869.2
Turmeric 7143.2 7420 7300 7606.3
Cotton 13568.6 13572.3 13498.3 11986.6
Jeera 19646.2 17500 18571.5 19540
Castor 4547.9 4536.55 4458.5 4534.7
PRICE TRACKER
Link for commodity-wise and
market-wise prices and arrivals:
http://agmarknet.gov.in/PriceAndArriv
als/CommodityWiseDailyReport2.aspx
THE WEEK THAT WAS
0
Date: 14/08/2018 NCoMM
NCML Commodity Market Monitor
0
Date: 14/08/2018 NCoMM
NCML Commodity Market Monitor
yyy
link
NCoMM QUIZ ANSWERS OF THE PREVIOUS WEEK
THESE PEOPLE ANSWERED CORRECTLY !
1. The International Grains Council has pegged the world wheat production 2018 -19 at _____ million metric tonnes.
721
2. Chana stock in central pool is around ____ lakh metric tonnes.
27.39
3.5
3. Sugar exports under the MEIS till July end were only ____ lakh tonnes against the target of 20 lakh tonnes.
Full Name Department Full Name Department
Rakesh Kumar S&P Akshay Thoravashe S&P
Kuldip Singh Silo Projects Manish Raj Risk
Bybee S&P Pawan Joshi S&P
Anilkumar Parvathaneni Risk Adarsh Sharma S&P
Sumit Chahal Non-Ncmlite Anjali Cm
Radheshyam Sharma Cm Abhineet Srivastava Risk
Mirza Nasir Beig Cm Syed Zaheer Ahmed T&C
Meenakshi Gupta Hr&Admin Vijay Gupta Cm
Dinesh Kumar Sharma T&C Venkata Raghava Vittal Tadikonda S&P
Satyanarayan Das Bairagi Cm Nitin Laxman Tambe Cm
Brijendra Srivastava Cm Javeed M S&P
S Srinivasu Cm Babloo Kumar Cm
Nikhil Kumar Risk Arun Kumar Cm
Jai Kumar Cm Mahesh Mahadev Ambure Cm
Shanmukha K R Cm Baskaran Cm
Laxmikant S H Cm Sanjay Singh S&P
Umesh R M Cm Suresh T&C
Chaudhari Bharatkumar Bhikhabhai T&C Abhimanyu Singh Shaktawat Cm
Thakor Kirtiji T&C Gundapu Panchajanya Kumar Cm
Venkatesh Thota S&P Annasaheb Sargar S&P
Brijeh Kumar Tripathi S&P Dayakant Soni Silo Projects
Omsingh Cm Ajay Turkane S&P
Krishna Pal Singh Solanki Cm Prashant Kumar Ojha S&P
Somarouthu Narendra Cwig Raj Kumar Meher S&P
Nagina C Gowda S&P Ranjeet Singh Internal Audit
Pawan Kumar S&P Mithilesh Singh T&C
Chandana Perali Cwig Sathyamoorthy Cm
Huzoor Ali Shaik T&C Tangirala Kotireddy Cm
Jayantibhai V Solanki T&C Maheshkumar Ramaswamy Internal Audit
Patel Mishalben M T&C Mukesh Basetia Cm
Swapnil Paithane S&P
SECOND TIME LUCKY!!!
Venkatesh Thota
S&P, Hyderabad
CONGRATULATIONS!
0
Date: 14/08/2018 NCoMM
NCML Commodity Market Monitor
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]
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