Selling intensified in chana market at higher levels due to
possibility of strong production in the current year. The NCDEX futures plunged
by almost Rs 41 per quintal.
As per the first Advance estimates released by Ministry of
Agriculture, the chana output of India for 2012-13 is targeted at 79.6 lakh
tonnes , up almost 3.8% from the last year.Moreover, favourable rainfall in
some parts of Rajasthan, Gujarat and Madhya Pradesh during September also
incite the strong chana sowing in the current year.
The spot prices of Akola mix were reported steady at around
Rs 4950 per quintal and Chapa quality were at Rs 5000 per quintal today. The
total daily arrivals were hovering at the lower levels of around 15000 bags in
the entire major mandis.
The NCDEX November futures wilted almost Rs 41 per quintal
today to settle at Rs 4620 per quintal. The contract increased by 1000
positions in open interest indicating short selling by traders.
1 comments:
WWR JEERA 20- JAN
SUPP 1 : 14430
SUPP 2 : 14300
RES 1 : 14650
RES 2 : 14800
AGRI COMMODITY TIPS
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