Agro Outlook Tips As Of 3.02.2015

Chana prices closed higher 2.37 percent 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 February 2015 contract closed at Rs. 3,497 per quintal, up by 2.37 per cent, after opening at Rs. 3,419 against the previous closing price of Rs. 3,416. It touched the intra-day high of Rs. 3,515. Moreover, the restricted arrivals of the commodity in the physical market due to lower estimated output also influenced the chana prices. 

 

Mustard Seed prices closed higher by 0.82 percent on Friday 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 February 2015 contract closed at Rs. 3,339 per quintal, up by 0.82 percent, after opening at Rs. 3,308 against the previous closing price of Rs. 3,312. It touched the intra-day high of Rs. 3,351. 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.