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AGRI WRAP-Indian chana, jeera fall on improved rains
August 21, 2012 / 1:22 PM / 5 years ago

AGRI WRAP-Indian chana, jeera fall on improved rains

MUMBAI, Aug 21 (Reuters) - Indian chana fell 3 percent, the
lowest level in two weeks, weighed by improved rains over
Rajasthan and Madhya Pradesh, which would help kharif-sowing.
    * The most-active chana for September delivery on
the National Commodity and Derivatives Exchange (NCDEX) fell to
a low of 4,792 rupees per 100 kg, the lowest level since Aug. 9.
It ended 2.67 percent lower at 4,808 rupees.
    * In the Delhi spot market, chana fell 57.70 rupees to
4,867.30 rupees per 100 kg.
    * Rains are expected to continue over parts of Rajasthan,
Madhya Pradesh and Uttar Pradesh during the next 3 to 4 days,
the weather office said in a statement on its website.
    * Key kharif pulses-growing states have received good rain
in the past week, aiding cultivation. Sowing of chana, a rabi
crop for which sowing starts in October, depends on soil
moisture for proper growth.
    
    SUGAR
    Sugar futures fell nearly 2 percent on sluggish demand and
additional supply of non-levy sugar, though a likely rise in
demand next month due to festivals limited the downside.
    * The key September contract closed down 1.81
percent at 3,411 rupees per 100 kg. Sugar in the Kolhapur spot
market in top-producing Maharashtra state was 45 rupees higher
at 3,645 rupees per 100 kg.
    * Earlier this month, India released 400,000 tonnes of
additional non-levy sugar for the September quarter, over and
above the previous allocation of 4.766 million
tonnes. 
    * Non-levy, or free-sale, sugar is sold by millers in the
open market, but the quantity each mill can sell is fixed by the
federal government on a quarterly basis.
    
    JEERA
    Jeera, or cumin seed, futures fell on Tuesday as traders
chose to sell due to improved rains in the top producing state
of Gujarat and increased supplies in the domestic market.
    * The September jeera contract on the NCDEX ended 
down 2.41 percent at 15,820 rupees per 100 kg. At Unjha, jeera
fell 112.7 rupees to 16,224.8 rupees per 100 kg.     
    * Spot supplies at the Unjha market rose to 6,000 bags of 60
kg each on Tuesday, as compared with 2,000-4,000 bags last week.
    * Gujarat received good rains in the last few days and the
trend is expected to continue over the next 3-4 days, according
to the weather office.  
   * Jeera is a winter crop sown October onwards and farmers
depend on rains to moisten the land for sowing.
    
    PEPPER
    Pepper futures dropped as traders fretted over sluggish
exports and weak demand from north-Indian buyers in the domestic
market.
    * Indian-origin pepper is offered at a premium of around
$1,500 per tonne in the global market compared with its
competitors' prices. 
    * The most-active September contract on the NCDEX
fell 0.87 percent to end at 41,960 rupees per 100 kg. In Kochi,
a key market in Kerala, spot pepper fell 432.8 rupees to 41,395
rupees.
    * In April, pepper exports fell 47 percent from a year
earlier to 1,200 tonnes. 
    
    TURMERIC
    Turmeric futures fell on profit-taking while weakness in
other spices also weighed on sentiment.  
    * The September turmeric contract on the NCDEX ended
down 2.6 percent at 5,840 rupees per 100 kg. At Nizamabad, spot
turmeric edged up 18.15 rupees to 5,465.35 rupees per 100 kg.
    * Farmers slashed area under turmeric sowing this season
after a sharp fall in prices since last year.   
    * India's monsoon rains were slightly below average in the
past week, but heavy downpours arrived in a parched western
state, the weather office said on Aug. 16.  
    * Turmeric is planted between June and August and takes
about nine months to harvest.
    
    SOYBEAN
    Soybean and soyoil futures rose on Tuesday, tracking a rally
in the U.S. market on an estimated drop in grains output and on
thin supply of soybeans in local spot markets.
    * Chicago new-crop soybean rose to a contract high on
Tuesday, gaining for a third consecutive session buoyed by
expectations of poor yields after a devastating drought in the
U.S. grain belt. 
    * The October soybean contract on the NCDEX rose
1.59 percent to end at 4,000 rupees per 100 kg. 
    * The September soyoil contract ended up 0.55
percent at 792.95 rupees per 10 kg, while rapeseed 
slipped 0.50 percent to end at 4,379 rupees per 100 kg. 
    * Indian farmers have cultivated soybean on 10.64 million
hectares as on Aug. 16, compared with 10.23 million hectares at
the same time a year earlier, farm ministry data showed. 
    * At the Indore spot market in Madhya Pradesh, soyoil rose
2.15 rupees to 782.25 rupees per 10kg, while soybean rose by 21
rupees to 4,519 rupees per 100 kg. At Sri Ganganagar in
Rajasthan, rapeseed was down 112.50 rupees to 4,218.25 rupees
per 100 kg.

 (Reporting by Siddesh Mayenkar; Editing by Anand Basu)

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