The Hindu Business Line : Fears of lower output prop up barley, chana contracts

Mumbai March 13 Barley futures on NCDEX gained 3.15 per cent to Rs 745 per quintal on market expectations of a lower production estimate of 1.4 million tonnes in 2007-08 against 1.8 million tonnes last year.

It registered a total volume of Rs 8-10 crore.

Chana futures were up 3.55 per cent to Rs 2,102 per quintal on concerns over rains in Rajasthan.

Despite being the peak-harvesting season, arrivals of chana were delayed due to transportation problems.

Soya bean futures rose 1.34 per cent to Rs 1,520 per quintal on reports of strong international markets.

Pepper futures were up marginally by 0.97 per cent at Rs 12,113 per quintal on speculative buying.

Potato, mentha oil up

Rains in northern India pushed up potato Agra futures on MCX by 1.43 per cent to Rs 680 per quintal, while mentha oil future went up 1.96 per cent to Rs 542 per kg.

Rubber futures on MCX fell 1.85 per cent to Rs 8,950 per quintal on weak price advices from Tokyo Commodity Market. Cardamom dipped 1.55 per cent Rs 484 per kg.

Arrivals of 1.20 lakh chilli bags (45 kg per bag) against 75,000 bags on Monday at the Guntur markets pulled down future prices by 1.05 per cent to Rs 4,545 per quintal.

NCDEX registered a turnover of Rs 3,150 crore (Rs 4,013 crore, up to 2 p.m.) up to 5 p.m. on 113,360 (98,790) trades while in MCX it was at Rs 3,412 crore (Rs 10,286 crore upto 2 p.m.) up to 5 p.m. on 61,726 (162,657).

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

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