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AGRI WRAP-Indian jeera ends flat after contract low; chana down
January 29, 2013 / 1:22 PM / 5 years ago

AGRI WRAP-Indian jeera ends flat after contract low; chana down

MUMBAI, Jan 29 (Reuters) - Indian chana futures fell on
Tuesday on profit-taking driven by weak demand as rising
supplies from the new season weighed on sentiment.
    * The most-active chana contract for April delivery 
on India's National Commodity and Derivatives Exchange ended
down 1.53 percent at 3,550 rupees per 100 kg.
    * In the New Delhi spot market, chana, or chickpea, dropped
by 29.15 rupees to 3,920.85 rupees per 100 kg.
    
    OILSEEDS
    Indian oilseeds and soyoil futures ended almost flat as weak
demand and a strong rupee outweighed gains in overseas prices. 
    * A strong rupee makes edible oil imports cheaper and at the
same time trims returns of oilmeal exporters. The rupee ended
stronger at 53.76/77 to the dollar versus its previous close of
53.91/92.
    * The actively traded soyoil contract for February delivery
 ended 0.02 percent higher at 725.5 rupees per 10 kg.
    * The most-active soybeans contract for February delivery
 ended higher down 0.26 percent at 3,255 rupees per 100
kg, while rapeseed contract for April delivery eased
0.35 percent to end at 3,423 rupees per 100 kg. 
    * At the Indore spot market in Madhya Pradesh, soyoil eased
by 3.35 rupees to 754.40 rupees per 10 kg, while soybeans
dropped 22 rupees to 3,311 rupees per 100 kg. At Jaipur in
Rajasthan, rapeseed fell 61.10 rupees to 3,914.90 rupees.
    
    PEPPER
    Indian pepper recovered from its lowest in a week, pressured
by expectations of rising supplies from the new crop.
    * The most-active pepper contract for February delivery
 on the NCDEX ended higher 1.07 percent at 37,715 rupees
per 100 kg. It earlier hit a low of 36,910 rupees, a level last
seen on Jan. 19.
    * Spot pepper fell 28.1 rupees to 39,765.6 rupees per 100 kg
in Kochi in Kerala state.
    * Pepper output is likely to be higher this season as good
yield is expected from the top-producing states of Kerala and
Karnataka, traders said. Supplies from the new season crop start
arriving in January-February.
    
    TURMERIC
    Turmeric futures edged down, extending losses for another
session to hit their lowest in seven weeks, weighed by higher
carry-forward stocks and expected supplies from the new season
crop from February.
    * The most-active turmeric contract for April delivery
 ended 0.53 percent lower at 6,018 rupees per 100 kg. It
earlier dropped to 5,980 rupees, a level last seen on Dec. 10.
    * Spot turmeric fell 23.25 rupees to 5,404.00 rupees per 100
kg at Nizamabad, a key market in Andhra Pradesh.
    * The area under turmeric cultivation is lower this year due
to scant rainfall during the planting season and a shift in
acreage to other crops, but higher carry-forward stocks are
expected to keep supplies firm. 
    
    CUMIN SEEDS
    Indian cumin seeds or jeera traded flat after hitting a
contract low, weighed by expectations of greater area under
cultivation and higher output.
    * The March jeera contract on the NCDEX ended 0.05
percent down at 13,370 rupees per 100 kg. It earlier fell to a
contract low of 13,285 rupees. Jeera fell 120.9 rupees to
13,898.7 rupees per 100 kg at Unjha, a key market in Gujarat.
     * Jeera, or cumin seed, is a winter crop sown from October
to December and fresh supplies start arriving from February.
    
    SUGAR
    Indian sugar futures rose a tad due to short-covering after
falling  in the previous four sessions on weak demand, mounting
supplies from mills and poor export prospects due to lower world
prices.
    * The key February sugar contract ended up 0.16
percent at 3,196 rupees per 100 kg. Sugar fell more than 2
percent in the previous four sessions, hitting a new contract
low at 3,187 rupees on Monday.
    * Sugar prices were 3.95 rupees lower at 3,246.05 rupees per
100 kg in the Kolhapur spot market in top-producing Maharashtra
state.
     * An output of more than 24 million tonnes will be lower
than the 26 million tonnes produced in the previous year, but
higher than the expected local consumption of about 22 million
tonnes. 

 (Reporting by Siddesh Mayenkar; Editing by G.Ram Mohan)

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