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AGRI WRAP-Indian turmeric, soybean rise; chana ends flat
April 9, 2013 / 12:47 PM / 5 years ago

AGRI WRAP-Indian turmeric, soybean rise; chana ends flat

MUMBAI, April 9 (Reuters) - Indian sugar futures rose a tad, but dealers expect the contract to drop and sentiment to turn bearish in the near term as supplies and inventories have swelled after cane crushing peaked.

* After Thursday’s decision of lifting curbs on the sugar sector, prices rose on Friday.

* The government will no longer force mills to sell sugar to the government at a discount and will not limit the amount they can sell in the open market, Food Minister K.V. Thomas said after the cabinet agreed the changes last week.

* The most-active sugar contract for May delivery on the National Commodity and Derivatives Exchange (NCDEX) ended 0.20 percent up at 2,933 rupees per 100 kg.

* Spot sugar fell 11.80 rupees to 3,037.75 rupees per 100 kg in the Kolhapur market in top-producing Maharashtra state.

CUMIN SEEDS

Indian cumin seeds, or jeera, futures extended gains on Tuesday to hit their highest level in more than two months, helped by lower arrivals amid surging demand.

* The actively traded jeera contract for May delivery ended 1.10 percent higher at 13,955 rupees per 100 kg on the NCDEX, after hitting a high of 14,125 rupees, a level last seen on Feb. 2.

* Spot jeera rose 117.8 rupees to 13,778.5 rupees per 100 kg at Unjha, a key market in Gujarat.

PEPPER

Indian pepper futures rose due to bargain buying after three sessions of losses amid lower participation.

* The most-active pepper contract for May delivery ended 0.15 percent higher at 35,665 rupees per 100 kg on the NCDEX, after losing 0.80 percent in the previous three sessions.

* Spot pepper fell 62.1 rupees to 36,169.2 rupees at Kochi, a key market in the southern state of Kerala.

TURMERIC

Indian turmeric futures rose 2 percent to their highest level in more than three weeks on thin supplies as farmers were holding supplies on expectations of price rise in the coming months.

* The most-active turmeric contract for May delivery ended 1.68 percent higher at 7,002 rupees per 100 kg on the NCDEX, after rising to 7,080 rupees earlier, the highest level since March 15.

* At Nizamabad in Andhra Pradesh, spot turmeric was flat rupees at 6,552.10 rupees.

CHANA

Indian chana futures ended flat after falling early as weak demand in spot markets prompted traders to book profits.

* The May contract ended flat at 3,619 rupees per 100 kg on the NCDEX, after rising to 3,646 rupees in the previous session, the highest level since Jan. 29.

* Chana, or chickpea, eased 24.70 rupees to 3,583.95 rupees per 100 kg in the New Delhi spot market.

OILSEEDS

Indian soy futures rose as soybean supplies were almost exhausted in spots, but rapeseed eased on rising arrivals.

* The actively traded soybean contract for May delivery ended 1.43 percent up at 4,011.50 rupees per 100 kg on the NCDEX, while the May soyoil ended 0.78 percent higher at 713.20 rupees per 10 kg.

* Rapeseed for May ended 0.25 percent down at 3,626 rupees per 100 kg.

* At the Indore spot market in Madhya Pradesh, soyoil rose 2.30 rupees to 726.80 rupees per 10 kg, while soybeans ended up 21 rupees at 4,106.00 rupees per 100 kg. At Jaipur in Rajasthan, rapeseed fell 7 rupees to 3,610.90 rupees. (Reporting by Siddesh Mayenkar; Editing by Anand Basu)

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