Business Daily from THE HINDU group of publications
Saturday, Mar 17, 2007
ePaper
Business Daily from THE HINDU group of publications Saturday, Mar 17, 2007 ePaper |
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Agri-Biz & Commodities
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Commodity Exchanges Short covering forces soya futures to pare gains Our Bureau
Mumbai March 16 Soyabean futures on NCDEX, which were volatile during the day, closed higher by 0.25 per cent at Rs 1,531 per quintal. Opening flat at Rs 1,531 per quintal, it hit a high of Rs 1,547 per quintal. But profit booking pulled down prices to the day's low of Rs 1,528. The arrivals of soyabean in the spot markets were lower and there was a good demand from oil extractors. Potato futures for April delivery were up 0.74 per cent to Rs 665 per quintal on short covering. Guarseed gained 0.77 per cent to Rs 1,965 per quintal on good demand from millers and stockists. Mentha oil on MCX hit the upper circuit of 4 per cent at Rs 561.20 on speculative buying. Turmeric futures on NCDEX lost 2.95 per cent to Rs 2,110 per quintal. Chilli futures were down 0.98 per cent to Rs 4,437 per quintal due to higher arrivals of 60,000 to 65,000 bags (45 kg per bag). "The spot markets are closed for the next three days and we are expecting arrivals to increase when they open on Tuesday," said a trader. Chana futures fell 1.3 per cent to Rs 2,121 per quintal on profit booking. NCDEX registered a turnover of Rs 3,343 crore (Rs 3,734 crore, up to 2 p.m.) up to 5 pm on 104,330 (112,470) trades, while in MCX it was at Rs 4,329 crore (Rs 11,570 crore up to 2 p.m.) up to 5 p.m. on 70,812 trades (176,726). Active trades were seen in chana, pepper, guarseeds, refined soya oil, jeera and gold.
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