Chana under pressure, guar seed rangebound, soya down
Agri volumes on Ncdex Wednesday picked up to Rs 3,221 crore up to 5 pm against Rs 3,245 crore up 11.55 pm on Tuesday.
By TNN |
MUMBAI: Agri volumes on Ncdex Wednesday picked up to Rs 3,221 crore up to 5 pm against Rs 3,245 crore up 11.55 pm on Tuesday.
Pepper, which rose the whole of last week, hit the lower circuit even as Vietnam cut its export prices of both farm and Asta - grade pepper, while the near month chana contract was down .9% at Rs 2,275 per quintal. The February contract though was up 1.2% at Rs 2,118 per quintal.
Lack of physical demand, following shift to fresh vegetables, and arrival of imports have put pressure on chana prices.
The near month and February guarseed contracts were rangebound at Rs 1,938 and Rs 1973 per quintal.
“Guarseed is in the grip of the bears as there is hardly any demand and most of the stock is finding the way to the exchange warehouse, where financiers get a cash and carry arbitrage opportunity,” said Delhi’s Sohanlal & Co’s Sandeep Sabharwal. “Lack of consumption is bound to put pressure on guarseed.”
Soyabean was down half a per cent at 1370.45 a quintal for January delivery while soya oil was also down by the same amount at around Rs 464 per 10 kg.
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