NCDEX TIPS FOR THE WEEK AS 01 NOVEMBER 2014

Agro Outlook

D A I L Y B U Z Z

CHANA
Chana prices closed higher 3.06 per cent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the traders enlarged their holdings in the commodity on account of the good demand in the market. At the NCDEX, chana futures for November 2014 contract closed at Rs. 3,136 per quintal, up by 3.06 per cent, after opening at Rs. 3,055 against the previous closing price of Rs. 3,043. It touched the intra-day high of Rs. 3,156. Moreover, the restricted arrivals of the commodity in the physical market due to lower estimated output also influenced the chana prices. India is the largest producer of chickpea followed by Pakistan, Turkey and Iran. India produces around 6 to 8 million tonnes and contributes around 70 per cent of the total world production.

CORIANDER
Coriander prices rose by 0.31 per cent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the limited stocks on account of restricted arrivals from the major growing belts. At the NCDEX, coriander futures for November 2014 contract was trading at Rs.  12,005 per quintal, up by 0.31 per cent after opening at Rs. 11,930 against the previous closing price of Rs. 11,968. It touched the intra-day high of Rs. 12,030 till the trading. (At 11.45 AM today). Sentiment improved further as the investors enlarged their holdings tracking the surge in the demand for the commodity. Coriander is common in South Asian, Middle Eastern, Central Asian, Mediterranean, Indian, Tex-Mex, Latin American, Portuguese, Chinese, African, and Scandinavian cuisine.

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