WEEKLY AGRI REPORT 7TH JANUARY 2013
HEADLINES Pepper moves up in futures trade on spot demand Pepper prices moved up by Rs 115 to Rs 34,575 per quintal in futures trading today on speculative buying, tracking a firm trend at spot market on pick up in demand. However, expectations of higher output and weak export demand capped the gain. At the National Commodity and Derivatives Exchange, pepper for delivery in February moved up by Rs 115, or 0.33 per cent to Rs 34,575 per
quintal with an open interest of 2872 lots. In a similar
BUY CHANA JAN ABOVE 3972 TGTS 4022/4092 SL 3912 SELL SOYBEAN FEB BELOW 3151 TGTS 3101/3031 SL 3211
fashion, the spice for delivery in March gained Rs 50 or 0.15 per cent to Rs 33,875 per quintal in 699 lots. Market analysts said speculators enlarging their positions on pick up in spot markets demand mainly led to rise in pepper prices at futures trade.
EXPERT OPINION STOCK
PRODUCT EXP DATE Pepper NAME
WEEKLY MARKET ANALYSIS OPEN
Pepper futures rose on Friday tracking firm spot cues where winter demand supported prices while lesser stocks also aided the upside. 4525 As of 09504560 GMT, the4532 most-active pepper CHANA 7/19/2012 4556 4573 -28 February -0.61 contract on the National Commodity and Derivatives Exchange (NCDEX) was up 1.52 percent at Rs 35,440 per 100 5060 kg.Winter5060 buying is5018 supporting prices but higher -102 output expectations CHILLI 7/19/2012 5120 5018 -1.99 are seen capping a sharp upside, Angel Commodities said in a research note. Spot pepper 172 to Rs 38,117 per 100 1188 kg in Kochi, a key market likely to GURrose Rs 7/19/2012 1188 1178 1183.5 in Kerala. 1178 Pepper -5.5output is -0.46 be higher next year due to expectations of good yields in the top producing states of Kerala and Karnataka JEERA
Red chilli offered unchanged at Guntur market of Andhra Pradesh on Friday. Meanwhile, red chilli futures traded mixed. Guntur cold teza seed42435 variety quoted at Rs 7,000PEPPER 7/19/2012 42300 At42555 42250storage 42390 45 0.11 7,600 per quintal, Indo-5 at Rs 5,300 -5,800 per quintal, 334 quality at Rs 5,000-5,700 a quintal,7/19/2012 273 quality at Rs 5,200-5,800 per quintal, byadagi 781.3 quality at Rs 5,200-5,800 a REF SOYA 780.5 783.6 777.4 782.85 -1.55 -0.2 quintal, 334 phataki at Rs 2,000-2,500 per quintal. Cold storage red chilli arrival reported around 7/19/2012 45,000-50,000 bags (per4330 bags 404265.5 kg). SOY BEAN 4309 4303 4315 12 0.28 Turmeric TURMERIC
Turmeric futures fell on mounting stocks and slack exports though improved demand from north India and expectations of lower output limited The turmeric WHEAT 7/19/2012 1251 1282 1251 1246 the downside. 1282 36 April 2.89 contract on the National Commodity and Derivatives Exchange (NCDEX) was down 0.86 percent at Rs 6,716 per 100 kg."Stocks are very high and the new supply season is also approaching. Prices may come down in the coming days as demand from overseas is not strong," said Suresh Chowdhary, a trader from Nizamabad, a key market in Andhra Pradesh. At Nizamabad, spot turmeric rose Rs 15.5 to Rs 5,695.5 per 100 kg. Jeera Jeera futures rose on some fresh overseas enquiries and hopes of further improvement in the coming weeks due to limited stocks with the other producing countries, though higher area under cultivation restricted the upside. Jeera is a winter crop for which sowing starts from October. The March jeera contract on the NCDEX was up 0.52 percent at Rs 14,480 per 100 kg."Overseas enquiries are coming for Indian origin jeera as it is the major supplier in the global market as of now with very limited stocks with other countries. At Unjha, jeera fell Rs 74.5 to Rs 14,594 per 100 kg. India is the world's top producer of jeera, or cumin seed, followed by Syria and Turkey.
WEEKLY SOYABEAN CHART
ANALYSIS OPEN: 3322 HIGH: 3335 LOW: 3151 CLOSE: 3160
SOYABEAN LOOKS DOWNWARDS TREND: BEARISH STRATEGY: SELL ON RISE
WEEKLY CHANA CHART
ANALYSIS OPEN: 3814 HIGH: 3972 LOW: 3810 CLOSE: 3940
CHANA LOOKS UPWARDS TREND: CONSOLIDATED STRATEGY: BUY ON DIPS
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