Agro Outlook
MUSTARD SEED
Mustard Seed prices closed lower by 0.24 per cent on Friday 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 January 2015contract closed at Rs. 4,238 per quintal, down by 0.24 per cent, after opening at Rs. 4,244 against the previous closing price of Rs. 4,248. It touched the intra- day low of Rs. 4,230. 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.
CHANA
Chana prices closed higher 0.72 per cent on Friday 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. 3,480 per quintal, up by 0.72 per cent, after opening at Rs. 3,440 against the previous closing price of Rs. 3,455. It touched the intra-day high of Rs. 3,526. 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
Mustard Seed prices closed lower by 0.24 per cent on Friday 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 January 2015contract closed at Rs. 4,238 per quintal, down by 0.24 per cent, after opening at Rs. 4,244 against the previous closing price of Rs. 4,248. It touched the intra- day low of Rs. 4,230. 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.
CHANA
Chana prices closed higher 0.72 per cent on Friday 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. 3,480 per quintal, up by 0.72 per cent, after opening at Rs. 3,440 against the previous closing price of Rs. 3,455. It touched the intra-day high of Rs. 3,526. 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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