Tuesday, June 19, 2012

NCDEX, NCDEX Tips and Trend Today

NCDEX Pepper
June contract on the NCDEX decreased by Rs 300 a quintal to the last traded price (LTP) of Rs 39,700 a quintal. July and August were down by Rs 355 and Rs 365 respectively a quintal to the LTP of Rs 39850 and Rs 40125 a quintal. Pepper was expected to extend its weak trend due to subdued overseas demand because of higher price quoted for the Indian variety in the international market. Indian parity was offered at $7700 per tonne.

NCDEX Turmeric
Turmeric was sold above Rs 4,000 for a day alone in two markets, but on Monday only in Erode Cooperative Marketing Society two or three bags of turmeric sold at Rs 4,069 a quintal, due to placement of best quality turmeric for sale. He said though the Government announced the procurement of turmeric at Rs 4,000 a quintal, so far no such procurement is made by the Tanfed. The growers are also not willing to sell their produce at Rs 4,000 a quintal, as they expect minimum support price of Rs 10,000 a quintal.

Arrivals of chana crop declined to 80000 bags while spot rates traded steadily in the range of Rs 43-44 per kg across major trading centers, as per trade reports. For Today consolidate to positive trading expected. NCDEX Chana may trade in a range bond of 4040-4200.

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