Weekly Agro Outlook Tips Of 16/02/2015

Jeera prices closed lower by 0.22 percent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) on account of a surge in the supply from the producing regions in the midst of a decline in the export demand. At the NCDEX, jeera futures for February 2015 contract closed at Rs. 13,850 per quintal, down by 0.22 percent, after opening at Rs. 13,875 against the previous closing price of Rs. 13,880. It touched the intra-day low of Rs. 13,750. Global output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year.

Chana prices closed higher 0.93 percent on Thursday 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. 3,589 per quintal, up by 0.93 percent, after opening at Rs. 3,555 against the previous closing price of Rs. 3,556. It touched the intra-day high of Rs. 3,689. Moreover, the restricted arrivals of the commodity in the physical market due to lower estimated output also influenced the chana prices. India produces around 6 to 8 million tonnes and contributes around 70 per cent of the total world production.