Business Daily from THE HINDU group of publications
Tuesday, Jun 24, 2008
ePaper | Mobile/PDA Version | Audio
Business Daily from THE HINDU group of publications Tuesday, Jun 24, 2008 ePaper | Mobile/PDA Version | Audio |
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Agri-Biz & Commodities
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Commodity Markets Maize futures witness hectic activities Our Bureau Mumbai, June 23 After a lull, the ban syndrome seems to have gripped the futures trading in commodity again. Maize futures on NCDEX witnessed hectic activities on reports that the Centre may consider a ban on maize exports to rein in the run away domestic prices. The Government on May 11 suspended futures trading in potato, chana, soybean and rubber to control the rising retail prices. Maize futures on NCDEX have jumped from a low of Rs 747 a quintal on April 21 to a high of Rs 993 a quintal on June 18. On Monday, the near month contract touched a high of Rs 964 a quintal and a low of Rs 940, before closing at Rs 945. Jeera losesJeera futures topped the list of losers as the active July contract futures fell 3.35 per cent to Rs 11,535 a quintal tracking the weak sentiment in spot market wherein prices fell sharply following higher arrivals. Guar seed futures were down 2.33 per cent to Rs 1,803 a quintal on forecast of good rainfall over Rajashtan will lead to improvement sowing. Pepper fell 1.62 per cent to Rs 13,967 a quintal on selling pressure and sluggish buying interest. Barley slipped 1.55 per cent to Rs 1,330 a quintal on account of profit taking coupled with declining spot prices in Jaipur spot markets. On MCX, cardamom prices dropped 2.57 per cent at Rs 682 a kg following auction of freshly harvested cardamom in Kerala. Mentha oil shed 2.23 per cent at Rs. 514 a kg on long liquidation after the recent bull run. MCX recorded a turnover of Rs 5,974 crore up to 5 pm, while it was Rs 1,836 crore in NCDEX. More Stories on : Commodity Markets
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