Tuesday, September 13, 2011

NCDEX Agri Commodity Market (Pepper, Guar, Chana) Updates

Bearish tone continues to prevail at pepper futures as traders continue to book profit at higher levels after the rates shot up on firm International markets amidst pick up in export demand. However, the traders are expecting the exports and domestic demand to remain good and to pick up further in the Festive season.

Guar Seed futures are trading lower, suffering some profit booking after a good upmove in last session. Lower export demand from the US and other countries was weighing down the prices. However, reports of heavy rains in the growing areas of Rajasthan kept apprehensions of fall in productivity for the standing crop.

Chana futures
have gained some strength on reports of lower global production for pulses. Major producers for pulses namely Myanmar, Australia and Canada are likely to report a fall in pulses production due to adverse weather conditions. Back home, the festive demand too continued to support the rates at the lower levels.

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