Agro Outlook
MUSTARDSEED
Mustard seed prices closed higher by 0.69 per cent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the decline in the supply for the commodity in the major markets. At the NCDEX, mustard seed futures for January 2015 contract closed at Rs. 4,087 per quintal, up by 0.69 per cent, after opening at Rs. 4,057 against the previous closing price of Rs. 4,059. It touched the intra-day high of Rs. 4,122. India produces 5.5 million MT to7 million MT annually and about 0.15 million MT is retained for sowing and direct consumption as seed which leaves about 4.8-5.1 million MT for crushing and extracting oil.
CHANA
Chana prices closed higher 0.26 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 January 2015 contract closed at Rs. 3,476 per quintal, up by 0.26 per cent, after opening at Rs. 3,468 against the previous closing price of Rs. 3,291. It touched the intra-day high of Rs. 3,505. Moreover, the restricted arrivals of the commodity in the physical market due to lower estimated output also influenced the chana prices. 467 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
Mustard seed prices closed higher by 0.69 per cent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the decline in the supply for the commodity in the major markets. At the NCDEX, mustard seed futures for January 2015 contract closed at Rs. 4,087 per quintal, up by 0.69 per cent, after opening at Rs. 4,057 against the previous closing price of Rs. 4,059. It touched the intra-day high of Rs. 4,122. India produces 5.5 million MT to7 million MT annually and about 0.15 million MT is retained for sowing and direct consumption as seed which leaves about 4.8-5.1 million MT for crushing and extracting oil.
CHANA
Chana prices closed higher 0.26 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 January 2015 contract closed at Rs. 3,476 per quintal, up by 0.26 per cent, after opening at Rs. 3,468 against the previous closing price of Rs. 3,291. It touched the intra-day high of Rs. 3,505. Moreover, the restricted arrivals of the commodity in the physical market due to lower estimated output also influenced the chana prices. 467 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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