October 7, 2013 / 1:06 PM / 4 years ago

AGRI WRAP-Indian chana jumps; sugar, guar end steady

MUMBAI, Oct 7 (Reuters) - Indian turmeric futures rose on some demand from local buyers and exporters, though higher carry-forward stocks limited the upside.

* The most-actively traded turmeric contract for November delivery ended 1.96 percent higher at 4,982 rupees per 100 kg on the NCDEX.

* Spot turmeric prices rose 13.65 rupees to 4,910.40 rupees per 100 kg in Nizamabad, a key market in Andhra Pradesh state.

GUAR SEED

Indian guar seed futures ended steady as support from bargain buying was offset by expectations of higher output due to expanded area under cultivation.

* Excess rains in Gujarat are likely to damage the crop and hurt quality, though overall production is expected to be higher, spot traders said.

* The November contract ended up 0.19 percent at 4,930 rupees per 100 kg on the NCDEX, recovering from a low of 4,850 rupees hit earlier in the day.

* Spot guar fell 214.30 rupees to 5,585.70 rupees per 100 kg in Jodhpur in Rajasthan state.

JEERA

Indian jeera futures rose due to some buying at lower prices on expectations of a pick-up in local demand ahead of festivals, though large spot supplies and prospects of better sowing due to ample rains restricted the upside.

* The actively traded jeera contract for November delivery ended up 1.05 percent at 13,020 rupees per 100 kg on the NCDEX. It hit a contract low of 12,800 rupees on Oct. 4.

* Spot jeera rose 59.2 rupees to 13,329.2 rupees per 100 kg in Unjha, a key market in Gujarat.

CHICK PEAS

Indian chana, or chickpea, futures rose due to a pick-up in local demand ahead of festivals.

* India will celebrate festivals such as Dussehra in October and Diwali in the first week of November.

* The November chana contract ended up 3.29 percent at 3,108 rupees per 100 kg. Spot chana rose 44.50 rupees to 3,078.45 rupees per 100 kg in Delhi.

SUGAR

Indian sugar futures ended down as demand remained muted in the spot market amid ample supplies, though expectations that upcoming festivals would lift demand limited the downside.

* The key November contract ended down 0.10 percent at 2,895 rupees per 100 kg on the NCDEX. The contract fell to 2,887 rupees on Sept. 28, the lowest in more than 15 months.

* Spot sugar fell 22.05 rupees to 2,937.55 rupees per 100 kg at the Kolhapur market in top producing Maharashtra state.

OILSEEDS

Indian oilseed and soyoil futures rose on gains in overseas palm oil prices, a weak rupee and as heavy rainfall in top soybean producing Madhya Pradesh state in the last four days raised concerns over supplies.

* The key November soybean contract ended up 1.47 percent at 3,552 rupees per 100 kg on the NCDEX.

* The key November soyoil contract ended 1.23 percent higher at 675.35 rupees per 10 kg, while the rapeseed contract for November edged up 0.37 percent to end at 3,555 rupees per 100 kg. (Reporting by Siddesh Mayenkar; Editing by Sunil Nair)

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