The Hindu Business Line : Maize futures dip on move to release stocks for Bengal

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Mumbai Feb. 22 A move by the Union Government to release 21,200 tonnes of maize to West Bengal at a concessional rate of Rs 450 per quintal resulted in maize futures declining 0.88 per cent to Rs 791 per quintal on NCDEX.

Potato gains

Weather concerns continued to haunt potato output. Both Agra and Tarkeshwar varities on MCX hit the first upper circuit of 4 per cent. Potato Tarkeshwar closed up 4.44 per cent at Rs 543 per quintal, while potato Agra finished at Rs 604 per quintal, a gain of 3.19 per cent.

Firm spot market coupled with some speculative buying pushed up wheat futures on NCDEX by 0.82 per cent to Rs 956 per quintal.

After falling from Rs 2,050 per quintal to Rs 1,860, guarseed futures on NCDEX gained strength to Rs 1,893 per quintal, a rise of 2.13 per cent on speculative buying.

Wheat futures rose 0.82 per cent to Rs 956 per quintal.

Pepper fell 2.3 per cent to Rs 12,541 per quintal on lack of directions from international markets, which remained closed for Chinese New Year.

"Further correction is expected in pepper futures as pepper prices were quoting much higher compared to produce from other countries in the international markets. Pepper futures may come down to Rs 12,000 per quintal,"said a dealer.

Chilli futures slip

Chilli futures on NCDEX slipped 2.08 per cent to Rs 3,863 per quintal on good arrivals in Guntur spot markets.

Sugar futures were down 1.45 per cent to Rs 1,432 per quintal on excess supply.

NCDEX registered a turnover of Rs 2,867 crore (Rs 3,501 crore, up to 11 p.m.) up to 5 p.m. on 94,020 (102,720) trades.

Active trades were seen in chana, pepper, guarseed, refined soya oil, jeera and gold.

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