Agro Outlook
Coriander futures
traded on a negative note on Friday with new crop arrivals in spot
markets.
Coriander April contract traded down by 0.79% to 6165 level
on Friday(11.40 am) at NCDEX Dhaniya April contract is likely to
trade bearish for short term and sideways for intra day.
Support for
short term is seen at 5735 and resistance 6400 while intra day
support is at 5975 and
resistance will be 6250, Arrivals of new crop
in major markets of Ramganj and Kota, is dragging
the spice to deep
negative territory. Increase in production compared to the last year
too
provided a big boost to bears while the demand stayed on the
weaker side.
Castor Seed prices
rose by 0.47 per cent on Friday at the National Commodity &
Derivatives
Exchange Limited (NCDEX) as a result of fresh demand of
the commodity in the major
mandies.Castor oil, extracted from castor
seed is the largest vegetable oil exported out of India.
India is
the biggest exporter of castor oil holding about 70 per cent share of
the international
trade in this commodity followed by China &
Brazil. At the NCDEX, castor seed futures for March
2015 contract
was trading at Rs. 3,659 per quintal tonnes, up by 0.47 per cent,
after opening at
Rs. 3,633 against the previous closing price of Rs.
3,642. It touched the intra-day high of Rs.
3,667 till the trading.
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