Agro Outlook
JEERA
Jeera prices closed lower by 0.93 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) on account of a surge in the supply from the producing regions in the midst of a decline in the export demand. At the NCDEX, jeera futures for December 2014 contract closed at Rs. 12,820 per quintal, down by 0.93 per cent, after opening at Rs. 13,000 against the previous closing price of Rs. 12,940. It touched the intra-day low of Rs. 12,820. Global output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year.
CHANA
Chana prices closed higher 2.36 per cent on Wednesday 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 December 2014 contract closed at Rs. 3,128 per quintal, up by 2.36 per cent, after opening at Rs. 3,087 against the previous closing price of Rs. 3,056. It touched the intra-day high of Rs. 3,140. 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
D A I L Y B U Z Z
Jeera prices closed lower by 0.93 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) on account of a surge in the supply from the producing regions in the midst of a decline in the export demand. At the NCDEX, jeera futures for December 2014 contract closed at Rs. 12,820 per quintal, down by 0.93 per cent, after opening at Rs. 13,000 against the previous closing price of Rs. 12,940. It touched the intra-day low of Rs. 12,820. Global output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year.
Chana prices closed higher 2.36 per cent on Wednesday 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 December 2014 contract closed at Rs. 3,128 per quintal, up by 2.36 per cent, after opening at Rs. 3,087 against the previous closing price of Rs. 3,056. It touched the intra-day high of Rs. 3,140. 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
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