Agriculture Sector

Spices Market Watch by Nirmal Bang

Spices Market Watch by Nirmal Bang             Spices complex remained in focus in yesterday's trade due to heavy rains and stronger international prices kept Turmeric and Pepper prices firm but after reports of rain in Gujarat and Saurashtra jeera prices hit lower freeze of two percent.

Pepper prices rose almost by more than 2% as Vietnam raised their FOB prices by almost $80 due to heavy rains and water logging. Domestic demand continues to remain sluggish but due to international cues prices have went up.

Oil And Oilseeds Market Watch By Nirmal Bang Securities

 Oil And Oilseeds Market Watch By Nirmal Bang Securities           Oilseeds complex plunged during the previous trading session erasing gains of previous day on account of profit booking. Soybean futures plunged by 1.4-2% as the demand in Spot market was a bit subdued

India's 2009 soybean output is expected at 9.72 million tonnes, down from 10.82 million tonnes a year earlier, trade body Soybean Processors Association of India said in a statement last week and arrival of soybean is likely to be delayed due to the ongoing rain in Maharashtra, the second biggest producing state.

Guar, Pulses And Grains Market Watch By Nirmal Bang Securities

Guar, Pulses And Grains Market Watch By Nirmal Bang Securities   Guar complex outperformed all agro commodities as bullish fundamentals seem to be working for the complex. Chana prices were up on bargain hunting. Prices for future wheat is fell down cause of astonishing rain that is making all believes stronger for better crop of wheat in this coming session.

Government have initiated from 4th October to distribute wheat and pulses through PDS shops comparatively at lower rate to common people. While atta will be available at Rs 9 per kg, chana daal will cost only Rs 28.

Spices Market Watch by Nirmal Bang

Spices Market Watch by Nirmal Bang           In Spices complex, turmeric was victimized the most as good rains in Andhra Pradesh may revive yield in crop cause selling. Jeera due to improvement in physical demand managed to hold on to its gain. Cardamom moved up on bargain hunting, pepper continues to trade in narrow range.

Arrivals at The Kerala Cardamom Processing and Marketing Company Limited, Thekkady stood at 49859 kgs. and average traded rate was Rs. 627 kgs. due to good rains and slack demand cardamom prices continue to edge lower and in the auction prices were weak by Rs. 15/kg

Oil And Oilseeds Market Watch By Nirmal Bang Securities

Oil And Oilseeds Market Watch By Nirmal Bang Securities      Oilseeds complex plunged during yesterday's trading session erasing gains of previous day on account of profit booking. Soybean futures plunged by 1.5-2% as the demand in Spot market was a bit subdued.

India may export 4.5 million tonnes of soyameal in the 2009-10 season, starting October, on revival of demand abroad, even as outbound shipment of the item is estimated to dip to 3.7 million tonnes this season.

Guar, Pulses And Grains Market Watch By Nirmal Bang Securities

Guar, Pulses And Grains Market Watch By Nirmal Bang Securities              Chana futures plunged during yesterday's trading on huge arrivals in the Spot market. Guar futures showed some firmness during yesterday's trading session and ended 2.5-3% higher than previous day's closing backed by strong fundamentals.

Chana arrivals are 12000 bags at Delhi's Lawrence Road Mandi. The Spot price is expected to open at Rs. 2265-70/quintal marginally down from yesterday's closing Spot price. The arrivals of 3000 bags were from Rajasthan and the remaining
9000 bags were from Madhya Pradesh.

Spices Market Watch by Nirmal Bang

Spices Market Watch by Nirmal Bang         Spices complex showing signs of consolidation and spices such as Jeera and Turmeric continue to maintain bullish momentum. Cardamom due to sluggish demand and higher arrivals prices hit lower circuit.

Oil And Oilseeds Market Watch By Nirmal Bang Securities

soybean-nutritionSoybean futures opened down in yesterday's tarding session and than recovered later on backed by strong Spot price and strong buying in the Spot market of Nagpur. Malaysian Crude palm oil futures extended the previous day's losses Thursday as weak commodity markets prompted profit-taking and long liquidation.

India's PEC Ltd has bought 10,000 tonnes of RBD palmolein at $705 per tonne for delivery by mid-October, two government officials told Reuters on Thursday. PEC's vegoil import programme is part of the government's plan to try to contain rising prices during the current festival season.

Spices Market Watch by Nirmal Bang

Spices Market Watch by Nirmal Bang       Spices complex were marginally weak during yesterday's tarding session on overall weakness in commodities.

Jeera prices were firm at spot market during morning session infact spot prices were up by Rs. 50/quintal but weak export numbers were also reason for it to go down from April-August India exported 18750 tonnes of Jeera Vs. last year's 21130 tonnes.

Pepper, despite of strong fundamental prices succumbed to selling pressure in overall spices complex. Pepper exports for the month of August 2009 was 1500 tonnes vs. 1570 tonnes in August 2008 and overall Pepper exports have declined from

Oil And Oilseeds Market Watch By Nirmal Bang Securities

 Oil And Oilseeds Market Watch By Nirmal Bang SecuritiesOilseeds complex remained reletively rangebound except Plamoil futures as it plunged 2% during yeterdays trading session. Crude palm oil futures dropped 2 per cent yesterday as traders booked profits after a cargo surveyor reported an improvement in exports and vegetable oil markets weakened.

USDA said private exportersreport sale of 116,000 tonnes U. S. soybeans for 2009/10 delivery to undisclosed destinations. Traders said at least some of that volume likelydestined for China.

Guar, Pulses And Grains Market Watch By Nirmal Bang Securities

Guar, Pulses And Grains Market Watch By Nirmal Bang SecuritiesChana futures plunged2-2.5% during yesterday's trading sessionas the counter saw some selling pressure during yesterday's trading seesion in the Spot market. Guar complex went down as the complex saw some profit taking.

Chana arrivals are 10000-12000bagsat Delhi's Lawrence Road Mandi. The Spot price is expected to open at Rs. 2300/quintal down Rs. 50/quintal from yestearday's closing Spot price, as we expect good selling pressure coming during the day.

Spices Market Watch by Nirmal Bang

Spices-MarketSpices futures witnessed correction during yesterday trading session as correction in overall commodities also victimized spices complex. Mentha oil was seen relatively insulated from selling.

Jeera prices were firm at spot market during morning session infact spot prices were up by Rs. 50/quintal but weak export numbers were also reason for it to go down from April-August India exported 18750 tonnes of Jeera Vs. last year's 21130 tones.

Pepper, despite of strong fundamental prices succumbed to selling pressure in overall spices complex. Pepper exports for the month of August 2009 was 1500 tonnes Vs.

Oil And Oilseeds Market Watch By Nirmal Bang Securities

Oil And Oilseeds Market Watch By Nirmal Bang Securities     Soyoil futures surged 2-2.5% during yesterday's trading session mainly because of brisk buying by stockiest and shortage in ready segment, Soyabean and Cottonseed oil recorded a sharp rise on good seasonal demand from local traders amid tight supply from local crushing plants. RM seed too saw some short covering during yesterday's trading session.

Guar, Pulses And Grains Market Watch By Nirmal Bang Securities

Guar, Pulses And Grains Market Watch By Nirmal Bang Securities      Chana futures surged 2-2.5% during yesterday's trading session mainlly due to a surge in spot price by Rs. 50/quintal and it also witnessed some short covering coming during the day. Guar complex too showed some strength mainly due strong fundamentals finaaly working in its favor.

Spices Market Watch by Nirmal Bang

Spices Market Watch by Nirmal Bang     Spices shot up during yesterday's trading session Pepper, Jeera, Turmeric were top performers in yesterdays trading session. Cardamom witnessed selling pressure and went down sharply and Mentha oil continues to trade in narrow range.

Jeera huge difference between spot and futures of Rs. 450/quintal and lower arrivals resulted in sharp gains in jeera futures. Arrivals in Unjha mandi was around 300 bags and farmers are reluctant to sell Jeera at low prices; due to festive season demand may scale up in jeera.

Oil And Oilseeds Market Watch By Nirmal Bang Securities

 Oil And Oilseeds Market Watch By Nirmal Bang Securities         Soybean complex showed some weakness on Saturday's trading session mainly due to good arrivals in Indore market.

Mustard prices ended on a positive note last week backed by festive demand especially from West Bengal and Bihar on account of Durga Puja. Trader are reluctant to take long position at current market price, as it is assumed that prices of Mustard seeds are over prices at curren levels.

Guar, Pulses And Grains Market Watch By Nirmal Bang Securities

Guar, Pulses And Grains Market Watch By Nirmal Bang Securities         Chana futures rose marginally on Saturday's trading session on account of bargain hunting and overall positive sentiment in commodities market and expected revival in demand on account of millers. Guar seed plunged on Saturday's trading session, i. e. first day after expiry showing some weakness.

Spices Market Watch by Nirmal Bang

Spices Market Watch by Nirmal Bang                 After expiry on NCDEX most of the spices showed some signs of weakness and corrected during Saturdays session.

Arrivals at Cardamom Planters' Association, Santhanpara were 22734 kgs. and prices were firm on the back of fewer arrivals. Cardamom due to erratic weather conditions, we may see 10% decreases in overall crop size.

Oil And Oilseeds Market Watch By Nirmal Bang Securities

 Oil And Oilseeds Market Watch By Nirmal Bang Securities           Oilseeds witnessed sharp upside in yesterday's trading session on international cues more than domestic triggers.

? Malaysian crude palm oil futures jumped 4.4 percent on Wednesday, their biggest one-day rise in more than six weeks, as investors covered short positions ahead of a long holiday weekend, traders said. ? U. S. soybean futures dropped around 1% on Wenesday after the threat of frost in the U. S. Midwest next week diminished, raising prospects of a record harvest of soybeans.




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