The Hindu Business Line : Fresh arrivals drag chilli on NCDEX

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Mumbai Feb. 5 Fresh arrivals of 50,000 chilli bags (one bag of 40-45kg) against daily inflows of 20,000 bags in the Guntur spot markets, dragged chilli futures on NCDEX to the lower circuit of 6 per cent at Rs 4,224 per quintal.

Spot prices also turned weak and shed Rs 300 per quintal to Rs 6,000.

Liquidation of the buy position and weak international markets saw chilli futures down 1.07 per cent to Rs 12,730 per quintal. Expectations of a bumper rabi crop turned chana futures on NCDEX and spot markets weak.

Chana futures fell 2.65 per cent to Rs 2,060 per quintal while prices in the New Delhi spot markets slipped by Rs 100-200 to Rs 2,350 per quintal.

Mentha oil up

Rubber futures on MCX were down 2.64 per cent to Rs 10,194 per quintal as farmers were seen selling.

Spot prices in Kerala fell Rs 100 to Rs 9,950 per quintal. Mentha oil for March delivery on MCX rose 2.62 per cent to Rs 603 per kg on speculative buying.

Good demand from cold storages marked up potato futures on MCX by 2 per cent to Rs 507 per quintal.

Wheat futures, which were trading weak for the last three sessions on NCDEX, witnessed some buying interest raising prices 1.07 per cent to Rs 10,020 per quintal.

Jeera futures were down a tad to Rs 9,280 per quintal.

NCDEX registered a turnover of Rs 2,129 crore (Rs 2,063 crore, up to 11 p.m.) up to 5 p.m. on 79,540 (71,311) trades, while on MCX it was Rs 2,840 crore (Rs 1,006 crore, up to 11 p.m.) on 59,359 (28,082) trades.

Active trades were seen in chana, pepper, guarseeds, refined soy oil, jeera and gold.

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