Business Daily from THE HINDU group of publications Saturday, Feb 10, 2007 ePaper |
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Agri-Biz & Commodities
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Commodity Markets Jeera futures down on unseasonal rains Our Bureau
Prices came down by Rs 182 per quintal to Rs 9,713 on Friday. Rains may also hit the rabi crop of guarseed, traders said. Apart from rains, the Rajasthan Government decision to lift VAT on guarseed had a negative impact on guarseed futures, which fell 2.89 per cent to Rs 1,915 per quintal on NCDEX. After Thursday's sharp fall, chana futures gained 2.18 per cent to Rs 2,388 per quintal.
Chilli futures down
Good arrivals in Guntur markets, dragged chilli futures down by Rs 69 per quintal to Rs 3,910. Inflows are expected to peak to one lakh bags (45 kg) from 50,000 bags presently. "Traders also offloaded their old stocks on fears of a further drop in prices. In addition, exporters have postponed their purchases, " said an investor on NCDEX.
Cardamom weak
Cardamom for February delivery lost 3.34 per cent to Rs 488 per kg on weak spot prices at Rs 410. Soyabean and soya oil futures remained flat on the positive side. Pepper futures on NCDEX were range bound at Rs 12,820 per quintal.
Sugar weak
Sugar futures on NCDEX closed 0.54 per cent down at Rs 1,474 on lack of demand. Potato and mentha oil futures on MCX lost 1.63 per cent and 0.91 per cent to Rs 519 per quintal and Rs 601 per kg respectively. NCDEX registered a turnover of Rs 3,059 crore (Rs 2,874 crore, up to 11 p.m.) up to 5 pm on 98,700 (88,200) trades, while on MCX it was Rs 3,063 crore (Rs 10,756 crore, up to 11 p.m.) on 62,539 (190,293) trades. Active trades were seen in chana, pepper, guarseeds, refined soy oil, jeera and gold.
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