NCDEX TIPS & UPDATES FOR 08 JULY, 2015

Agri Tips

 

MUSTARD SEED

On Friday Mustard Seed prices closed lower by 1.35 % at 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, July 2015, Mustard Seed futures contract closed at Rs. 4,174 per quintal, down by 1.35 %, after opening at Rs. 4,237 against the previous closing price of Rs. 4,231. It reached the intra-day low of Rs. 4,151. Sentiment weakened further due to the inactive export demand as a result of the weak requirement for commodity. EU-27 accounts to about 34% of worlds RM seed production, other than this major producers are Canada (19 per cent), China (23 per cent) India (14 per cent), Australia (3 per cent) and Ukraine (2 per cent). India manufactures 5.5 million MT to7 million MT Yearly.

JEERA

On Friday Jeera prices ended lower by 1.88 % at NCDEX on account of a rush in the supply from making regions in the centre of a decline in the export requirement. At the NCDEX, jeera futures contract for July 2015 ended at Rs. 15,885 per quintal, down by 1.88 per cent, after unlocking at Rs. 16,150 against the last closing price of Rs.16,190. It reached the intra-day low of Rs. 15,725. Global outcome of Jeera is around to be 2.2 lakh MT per year, of which India manufactures around 1.5 lakh MT Yearly.