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Mumbai Feb. 21 A cloudy weather forecast for Uttar Pradesh and West Bengal pushed up potato (Tarkeshwar variety) futures on MCX to the upper circuit of 6 per cent. However, some of the gains were pared for the futures to close at Rs 520.90 per quintal, up 5.45 per cent. Potato Agra futures also gained 3.28 per cent to Rs 585 per quintal.

Chilli futures on NCDEX rose 2.64 per cent to Rs 3,930 per quintal on good demand from Madhya Pradesh and Maharashtra. The Government's decision to allow Kabuli chana exports prompted buying in chana futures, which were marked up 1.57 per cent to Rs 2,074 per quintal.

Turmeric futures moved up 1.1 per cent to Rs 2,021 per quintal on speculative buying. Strong demand for soyabean in spot markets boosted futures on NCDEX by 1.15 per cent to Rs 1,454 per quintal. "Millers were buying soyabean from spot markets at Rs 1,370 per quintal on a rise in demand for soyameal from South East Asian countries," said a trader.

Guarseed futures lost 1.59 per cent at Rs 1,851 per quintal as NCDEX announced that it holds 24,252 tonnes of guarseed in its warehouses. Soya oil and sugar futures were down 0.91 per cent and 0.89 per cent at Rs 441 per 10 kg and Rs 1,453 per quintal, respectively.

After moving in a tight range, pepper futures on NCDEX dipped 0.58 per cent to Rs 12,815 per quintal on lack of signals from Vietnam markets, which remained closed for Chinese New Year.

NCDEX registered a turnover of Rs 3,070 crore (Rs 3,280 crore, upto 11 p.m.) up to 5 pm on 97,470 (96,450) trades while on MCX it was Rs 2,938 crore (Rs 10,670 crore, upto 11 p.m.) on 55,030 (170,272) trades. Active trades were seen in chana, pepper, guarseeds, refined soya oil, jeera and gold.

More Stories on : Horticulture/Fruits & Vegetables | Climate & Weather | Commodity Markets

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Treat speculative transactions as part of biz: Commodity exchanges

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