The Hindu Business Line : Chilli futures gain a tad

NCDEX's decision on Friday to launch new chilli future contracts for trading from February pushed up prices marginally by 0.68 per cent to Rs 6,215 a quintal. The prices have been declining over the last few days on non-availability of contracts for rollovers.

The tussle between sugar millers and farmers in Uttar Pradesh over sugarcane pricing has turned out to be a blessing for gur makers. "Farmers are willing to offer a discount of Rs 50 a quintal at Rs 80-90 a quintal on cane to gur makers but do not want to sell to millers. Sugar millers are offering Rs 1,250 a quintal, while farmers are demanding Rs 2,200 a quintal," said Mr G Viresh, a research analyst.

Urad up on buying

Fresh buying at lower levels saw urad prices up 2.22 per cent at Rs 3,175

per quintal on NCDEX. Urad had lost around Rs 300 over the week but speculative buying kept prices above the phychological level of Rs 3000.

"Burmese varieties of urad from Chennai along with desi urad from Maharashtra were quoted higher by Rs 50-75 per quintal on good demand from Guntur, Andhra Pradesh. NCDEX Urad January contract could test Rs 3,232 levels," said a Kotak Commodities Research report.

Rubber on MCX gained 4.52 per cent at Rs 8,400 per quintal. Tur futures on NCDEX were up 0.42 per cent at Rs 1,912 per quintal.

Pepper futures on NCDEX turned volatile on lower production. The January futures touched a high of Rs 9,798 per quintal but selling at these levels pushed down prices to Rs 9,450 before closing at Rs 9548.

Cardamom futures on MCX lost 1.89 per cent at Rs 362.50 per kg, while mentha oil fell 1.09 per cent at Rs 643.50 per kg. Guarseed was down 1.07 per cent at Rs 2,035 per quintal.

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