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AGRI WRAP-Indian turmeric, pepper decline; sugar flat
November 8, 2012 / 1:42 PM / 5 years ago

AGRI WRAP-Indian turmeric, pepper decline; sugar flat

Nov 8 (Reuters) - Indian turmeric futures fell as higher stocks and lack of buying in the spot market, weighed on sentiment.

* The December turmeric contract on the NCDEX ended down 3.59 percent at 5,162 rupees per 100 kg.

* At Nizamabad, a key market in Andhra Pradesh, turmeric fell 62.30 rupees to 5,071.70 rupees per 100 kg.


Soyoil futures rose a tad on Thursday on weak rupee, while soybean ended flat as a drop in supplies outweighed softening overseas prices.

* The December soyoil contract on India’s National Commodity and Derivatives Exchange (NCDEX) ended up 0.30 percent at 664.15 rupees per 10 kg, while rapeseed closed 1.20 percent higher at 4,229 rupees per 100 kg.

* A weak rupee makes edible oil imports expensive and at the same time raises returns of oilmeal exporters. Rupee fell on Thursday.

* The December soybean contract ended up 0.13 percent at 3,346.50 rupees per 100 kg.

* India’s soymeal exports jumped more than seven fold in October from a month earlier, when they hit their lowest level in at least two years, as fresh supplies rolled in and competitive prices attracted demand.

* At the Indore spot market in Madhya Pradesh, soyoil slipped 1.15 rupees to 696.60 rupees per 10 kg, while soybean rose by 15 rupees to 3,362 rupees per 100 kg.


Sugar futures ended flat for the second straight day on Thursday as lower than expected festive season demand outweighed a delay in cane crushing in top two sugar producing states.

* The key November contract ended 0.18 percent down at 3,308 Indian rupees per 100 kg. Sugar rose by 8.30 rupees to 3,466.65 rupees per 100 kg at the Kolhapur spot market in the top producing Maharashtra state.

* Usually most factories in Maharashtra, the top sugar producer in the country, start cane crushing by the first week of November, but it has been delayed this year as farmers and mills have not yet agreed on cane prices.

* In the northern state of Uttar Pradesh, both the farmers and mills are waiting for the state government to announce state advised price for cane.


Chick peas, or chana, futures fell on prospects of increased area under cultivation, conducive weather conditions and likely higher imports.

* Traders expect imports of pulses to increase due to an estimated shortfall in the kharif output.

* The December contract on the NCDEX ended down 0.37 percent at 4,335 rupees per 100 kg. In the New Delhi spot market, chana fell 42.65 rupees to 4,607.35 rupees per 100 kg.

* Chana is a winter crop and its sowing, which is in progress, depends on soil moisture.


Pepper futures fell on estimates of higher output and weak export sales though depleting stocks prevented any sharp fall in prices.

* The most-active December contract on NCDEX fell 1.96 percent to end at 41,575 rupees per 100 kg.

* Traders expect pepper output to remain around 55,000-60,000 tonnes as compared with 43,000 tonnes in the previous season.

* At Kochi, a key market in Kerala, spot pepper was steady at 41,933 rupees per 100 kg.


Jeera futures rose as some fresh enquiries from exporters aided buying though a pick-up in domestic supplies limited the upside.

* Jeera sowing in Gujarat has started, and is expected to gain pace gradually.

* The December jeera contract on the NCDEX ended 0.30 percent higher at 14,950 rupees per 100 kg. At Unjha, spot jeera fell by 17.5 rupees to 15,003 rupees per 100 kg.

* India is the world’s top producer of the spice, followed by Syria and Turkey. (Reporting by Siddesh Mayenkar; Ram Mohan G)

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