The Hindu Business Line : Potato, jeera futures up on rain forecast

Mumbai March 8 Rain forecast over the next three to four days in Delhi, Rajasthan and Uttar Pradesh pushed up jeera, potato and mustardseed futures on NCDEX.

Potato futures on NCDEX hit the upper circuit of 4 per cent at Rs 663.50 per quintal.

Similarly, potato Agra and Tarkeshwar varieties on MCX gained 3.21 per cent and 2.78 per cent to Rs 662 per quintal and Rs 624 per quintal, respectively. Jeera futures on NCDEX rose 3.08 per cent to Rs 758 per quintal on concerns over quality. RM Seed (Rapeseed-Mustardseed) futures were up 1.32 per cent to Rs 388 per 20 kg.

Maize up

The Government decision not to ban maize futures, lifted prices on NCDEX 2.78 per cent to Rs 758 per quintal.

Arrivals of 20-30 truckloads (one truck equals 10 tonnes) of chana in Delhi markets saw future prices gain 2.24 per cent to Rs 2,058 per quintal. Buying at lower levels propped up rubber futures 1.22 per cent to Rs 9,065 per quintal.

Chilli down

Speculative buying coupled with steady price advices from spot markets, pushed up pepper futures 1.11 per cent to Rs 12,370 per quintal. Chilli futures on NCDEX continued its downward movement to hit the lower circuit of 5.61 per cent at Rs 4,421 per quintal.

"Chilli arrivals in the Guntur markets improved from 40,000 bags to 75,000 bags on Thursday," said a trader.

Lack of demand pulled down cardamom futures on MCX by 1.44 per cent to Rs 445.80 per quintal.

Turnover

NCDEX registered a turnover of Rs 3,006 crore (Rs 3,010 crore, up to 11 p.m.) up to 5 pm on 93,940 (90,340) trades.

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

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