Agro
Outlook
Jeera
Mar. futures traded on negative note on Saturday mainly on profit
booking for the second
successive day after hitting upper circuits
earlier in the week and closed 0.10% down. The
fundamentals on Jeera
is positive due to less production estimate amid less sowing area in
the
Gujarat, the main Jeera producing state. Jeera futures may trade
on mixed to positive note, as
there is good demand from exporters as
well as retailers and stockists at market prices on
anticipation of
lesser arrivals in coming month on anticipation of lower production.
However,
arrival pressure may cap the price rise.
Castor
Seed prices rose by 0.47 per cent on saturday 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 percent, after opening at
Rs. 3,662 against the previous
closing price of Rs. 3,650. It touched the intra-day high of Rs.
3,720 till the trading.
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