Agro Outlook
Mustard Seed prices closed lower by 1.71 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the profit booking by the traders on account of the weak crushing and export demand of mustard meal.
At the NCDEX, Mustard Seed futures for April 2015 contract closed at Rs. 3,330 per quintal, down by 1.71 per cent, after opening at Rs. 3,393 against the previous closing price of Rs. 3,388.
It touched the intra-day low of Rs. 3,321 Sentiment weakened further due to the sluggish export demand as a result of the weak demand for the commodity.
EU-27 accounts to about 34 per cent of worlds RM seed production, others major producers are China (23 per cent), Canada (19 per cent), India (14 per cent), Australia (3 per cent), Ukraine (2 per cent). India produces 5.5 million MT to7 million MT annually.
JEERA
Jeera prices closed higher by 0.44 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the investors increased their holdings in the commodity in the midst limited arrivals from growing regions.
At the NCDEX, jeera futures for February 2015 contract closed at Rs. 14,840 per quintal, up by 0.44 per cent, after opening at Rs. 14,550 against the previous closing price of Rs. 14,775.
It touched the intra-day high of Rs. 15,175. Sentiment improved further as a result of reduced domestic supplies in the physical markets and some export enquiries.
Global output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year.
D A I L Y B U Z Z
MUSTARD SEEDMustard Seed prices closed lower by 1.71 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the profit booking by the traders on account of the weak crushing and export demand of mustard meal.
At the NCDEX, Mustard Seed futures for April 2015 contract closed at Rs. 3,330 per quintal, down by 1.71 per cent, after opening at Rs. 3,393 against the previous closing price of Rs. 3,388. It touched the intra-day low of Rs. 3,321 Sentiment weakened further due to the sluggish export demand as a result of the weak demand for the commodity.
EU-27 accounts to about 34 per cent of worlds RM seed production, others major producers are China (23 per cent), Canada (19 per cent), India (14 per cent), Australia (3 per cent), Ukraine (2 per cent). India produces 5.5 million MT to7 million MT annually.
JEERA
Jeera prices closed higher by 0.44 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the investors increased their holdings in the commodity in the midst limited arrivals from growing regions.
At the NCDEX, jeera futures for February 2015 contract closed at Rs. 14,840 per quintal, up by 0.44 per cent, after opening at Rs. 14,550 against the previous closing price of Rs. 14,775. It touched the intra-day high of Rs. 15,175. Sentiment improved further as a result of reduced domestic supplies in the physical markets and some export enquiries.
Global output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year.
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