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AGRI WRAP-Indian rapeseed falls on weak demand; chana rises
May 30, 2013 / 12:47 PM / 4 years ago

AGRI WRAP-Indian rapeseed falls on weak demand; chana rises

MUMBAI, May 30 (Reuters) - Indian rapeseed futures fell on Thursday due to the absence of oilmeal export demand, while timely arrival prospects of the monsoon weighed on soybean futures.

* India’s vital monsoon rains are expected to hit anytime now over the southern coast. India’s weather office has forecast the monsoon onset over the Kerala coast by June 3, give or take four days, a time period treated as normal.

* The rapeseed June contract fell 0.26 percent to close at 3,453 rupees per 100 kg on the National Commodity and Derivatives Exchange. The June soybean contract edged down 0.04 percent to 3,827 rupees per 100 kg.

* The key June soyoil contract edged up 0.20 percent to end at 714.55 rupees per 10 kg.

* At the Indore spot market in Madhya Pradesh, soybean was down 42 rupees at 3,901 rupees per 100 kg, while soyoil was 2.35 rupees down at 726.8 rupees per 10 kg. At Jaipur in Rajasthan, rapeseed edged down 4 rupees to 3,476 rupees.


Indian sugar futures eased on sluggish demand from bulk consumers amid mounting supplies, though a likely drop in next year’s output due to a drought limited the downside.

* The key June contract on the NCDEX slipped 0.07 percent to close at 3,017 rupees per 100 kg.

* Spot sugar fell 18 rupees to 3,054 rupees per 100 kg at the Kolhapur market in the top-producing Maharashtra state.


Indian chana futures edged up on buying at lower levels supported by a pick-up in local demand, though estimates of higher production weighed on sentiment.

* The June contract on the NCDEX ended up 0.22 percent at 3,190 rupees per 100 kg. It had hit a contract low of 3,105 rupees in the previous session.

* In Delhi, spot chana rose 25 rupees to 3,250 rupees per 100 kg.


Indian guar futures dropped due to expectations of an increase in area under cultivation and better prospects of monsoon rains and higher production.

* The June contract on the NCDEX fell 3.18 percent to 8,230 rupees per 100 kg. It had hit a contract low of 8,150 rupees on Wednesday.

* At Jodhpur, a key market in Rajasthan, guar seeds dropped 226 rupees to 8,571 rupees.


Indian turmeric futures fell due to mounting stocks and sluggish overseas demand.

* The key June turmeric contract closed lower 0.60 percent at 5,932 rupees per 100 kg on the NCDEX.

* Spot turmeric fell 59 rupees to 5,975 rupees per 100 kg in Nizamabad, a key market in Andhra Pradesh.


Indian jeera, or cumin seed, futures edged down, tracking weak spot demand and higher production, though expectations of a pick-up in export demand limited the downside.

* The actively traded jeera contract for June delivery inched down 0.02 percent to close at 13,047.5 rupees per 100 kg.

* Spot jeera fell 29 rupees to 13,451 rupees per 100 kg in the Unjha, a key market in Gujarat. (Reporting by Meenakshi Sharma; Editing by Anand Basu)

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