The Hindu Business Line : Jeera gains; chilli futures recover

Jeera futures on NCDEX hit the upper circuit of 2.74 per cent at Rs 11,201 per quintal on strong export demand and higher global prices. In Syria prices touched $4000 per tonne.

Tracking the sharp rise in crude oil price, soyabean and refined soya oil futures went up 1.25 per cent and 1.66 per cent to Rs 2,227 per quintal and Rs 579 per 10 kg, respectively. Crude oil hit a new all time high of $120.95 a barrel.

Mustard seed rose 1.19 per cent to Rs 547 per 20 kg. Turmeric was up 1.42 per cent at Rs 3,210 pr quintal on short covering.

Chilli gains

Chilli gained 1.29 per cent to Rs 5,181 per quintal on speculative buying in anticipation of supply crunch after the recent fire.

Sugar for May delivery fell 0.86 per cent to Rs 1,390 per quintal. Guarseed was down marginally by 0.77 per cent at Rs 1,809 per quintal on forecast of rainfall in north-west region.

On MCX, cardamom prices went up 1.75 per cent to Rs 641 per kg following strong demand and limited supplies at the auction centres. Mentha oil prices rose 0.86 per cent to Rs 448 per kg on good demand in the spot market. Incidentally, spot price increased to Rs 515 per kg from last week’s level of Rs. 505.

MCX recorded a turnover of Rs 4,341 crore up to 5 pm, while it was Rs 1,885 crore in NCDEX on Tuesday.

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