The Hindu Business Line : Chana futures hit lower circuit

Advertisement

Mumbai, Feb. 1 Chana futures on NCDEX hit the lower circuit of 6 per cent in anticipation of a bumper crop this rabi season. Chana for February delivery on Thursday came down 5.45 per cent to Rs 2,307 per quintal. The latest government estimates has pegged chana production at over 55 lakh tonnes against 40 lakh tonnes last year.

Jeera on NCDEX futures lost 2.10 per cent at Rs 9,020 per quintal as arrivals in the Unjha markets increased from 4,000 bags to 6,000 bags. Mentha oil futures on MCX were up 2.24 per cent to Rs 589 per kg on speculative buying. Potato and cardamom rose 1.52 per cent and 2.37 per cent to Rs 526 per quintal and Rs 456 per quintal, respectively.

Pepper declines

G.K. Nair reports from Kochi: Pepper futures witnessed a fall in prices following the withdrawal of export subsidy, which had been made available since October 2005, by the Centre after achieving the set target.

The export subsidy, Rs 7/kg (Rs 2 for local transportation and Rs 5 for international freight),was available till the shipments touched the ceiling of 20,000 tonnes— which had been achieved now — Spices Board sources said.On NCDEX, February contract dropped by Rs 571 a quintal to Rs 12,377 on Thursday. The decline in other contracts was from Rs 507 to Rs 576. On NMCE, February contract fell by Rs 631 a quintal to Rs 11,999, while the drop in other positions was from Rs 241 to Rs 530 a quintal.

Rubber rules steady

Our Correspondent reports from Kottayam: Physical rubber prices closed almost steady even amidst firm global advises on Thursday. Rubber futures showed signs of weakness on profit booking at higher levels.

Spot prices were (Rs/kg): RSS-4: 101 (101); RSS-5: 96.50 (96.50); ungraded: 94.75 (94); ISNR 20: 94 (94) and latex 60 per cent: 67.35 (67.35).

More Stories on : Pulses | Commodity Exchanges

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
Nabard unveils Rs 31,691-cr credit plan for Kerala

Chana futures hit lower circuit

Workshop on fisheries resources

Turkey: Oiling up the olive market

Milk powder exports banned