Thursday, 23 February 2012

Trading Commodity 23 Feb

Turmeric futures were exhibiting mixed trend on NCDEX. The commodity for near month delivery edged lower as lower demand amidst new crop arrival pressure kept trend weak for the commodity. The new crop arrival is expected by mid-February. Further, the total production this year is expected to touch 76-86 lakh bags (1 bag-75kg) - higher than the 65-70 lakh bags in 2010-11.

Turmeric futures declined Wednesday on higher crop concerns amid ample supply in the physical markets.

In NCDEX turmeric March contract is trading at Rs.4680 per quintal, down by 0.29 per cent on against the previous close.

Pepper futures rose Wednesday on firm domestic demand along with thin supply in the spot markets. Limited stocks in the domestic markets amid lower output concerns also supported the uptrend.

In NCDEX Pepper March contract is trading at Rs.33110 per quintal, down by 3.10 per cent on against the previous close.

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