WEEKLY AGRI REPORT 24TH DECEMBER 2012
HEADLINES Chilli , turmeric fall on sluggish demand Red chilli and turmeric prices fell further by Rs 100 per quintal in the national capital today largely influenced by sluggish demand from local parties and stockiest amid adequate stocks. Increased arrivals from producing belts and weakening trend in futures market also put pressure on the select spice prices. Red chilli and turmeric prices declined by Rs 100 each to conclude at Rs 6,300-11,800
and Rs 6,400-9,600 per quintal, respectively. Market men
SELL SOYABEAN JAN BELOW 3295 TGTS 3245/3185 SL-3345 SELL JEERA MAR BELOW 15545 TGTS 15395/15195 SL 15695
said subdued demand from local parties and retailers against increased arrivals from producing belts, mainly pulled down the chilli and turmeric prices in the wholesale kirana market here.
EXPERT OPINION STOCK
PRODUCT EXP DATE Pepper NAME
WEEKLY MARKET ANALYSIS OPEN
Indian pepper futures fell on Friday due to sluggish overseas sales and expectations of an increase7/19/2012 in output. As of 09374573 GMT, the on the CHANA 4556 4525most-active 4560 February 4532 pepper -28 contract -0.61 National Commodity and Derivatives Exchange (NCDEX) fell 2.63 per cent to 34,575 rupees per 1007/19/2012 kg. Pepper output to be higher expectations yields in CHILLI 5060 is likely 5060 5018 next year 5120 due to5018 -102 of good-1.99 the top producer state Kerala and Karnataka GUR
JEERA 7/19/2012 14955 14650 15052.5 14800trade-252.5 -1.68 Chilli prices fell by 1.57 per cent14960 to Rs 6150 per quintal in futures today as speculators
trimmed their positions, driven by sluggish demand in the spot market against adequate KAPAS 1044 output 1053 1035further 1049 1041 -8 in chilli -0.76 stocks. 7/19/2012 Reports of higher estimates fuelled the downtrend .At the National Commodity and Derivatives Exchange, chilli for delivery in March month fell by Rs 98, or 1.57 per cent to42300 Rs 6,15042555 per quintal with an 42390 open interest of 4,73045lots. Similarly, PEPPER 7/19/2012 42250 42435 0.11 the spice for delivery in April contract traded lower by Rs 68, or 1.07 per cent to Rs 6,278 per quintal 7/19/2012 in 2,630 lots. Market fall in chilli prices at781.3 futures trade REF SOYA 780.5 analysis: 783.6 - the 777.4 782.85 -1.55 was mostly -0.2 due to off-loading of positions by speculators on expectations of higher output and sluggish demand7/19/2012 in spot markets. SOY BEAN 4309 4330 4265.5 4303 4315 12 0.28 Turmeric
Indian turmeric futures hit a contract high for the second session on Tuesday due to a pick up WHEAT 7/19/2012 1251under 1246 36 GMT, 2.89 in domestic demand 1251 and a fall1282 in the area cultivation.1282 As of 1014 the April turmeric contract on the National Commodity and Derivatives Exchange (NCDEX) was up 2.55 percent at 6,606 rupees per 100 kg, hitting a contract high of 6,638 rupees earlier in the day. "Production could fall due to a decline in the seeded area but carry-forward stocks are very high and this would maintain smooth supplies next year," said Suresh Chowdhary, a trader from Nizamabad in Andhra Pradesh. At Nizamabad, spot turmeric rose 41 rupees to 5,297 rupees per 100 kg
Jeera Indian jeera futures rose on fresh overseas enquiries and lesser supplies in the domestic market. The March jeera contract on the NCDEX was up 2.52 percent at 15,770 rupees per 100 kg. "Jeera is expected to rise further in the coming days because enquiries are very good from exporters," said Samir Mahendra Shah, a trader from Unjha, a key spot market in Gujarat.At Unjha, spot jeera was almost steady at 14,986 rupees 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: 3360 HIGH: 3390 LOW: 3270 CLOSE: 3295
SOYABEAN LOOKS DOWNWARDS TREND: BEARISH STRATEGY: SELL ON RISE
WEEKLY CHANA CHART
ANALYSIS OPEN: 4121 HIGH: 4171 LOW: 4004 CLOSE: 4041
CHANA LOOKS DOWNWARDS TREND: BEARISH STRATEGY: SELL ON RISE
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