Commodity tips & updates for 16 Dec, 2015

Prices of Chana ended lower by 0.08 per-cent on yesterday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the steady sowing progress of pulses along with high supplies in major producing states. 

At NCDEX, chana futures for Dec 2015 contract closed at Rs. 5,078 per quintal, down by 0.08 per-cent, after starting at Rs. 5,095 as compared to the previous closing price of Rs. 5,082. It attained the intra-day low of Rs. 5,035.

 

Ncdex : Maize prices closed down by 1 per-cent on yesterday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of heavy selling activity by the traders on account of higher world wide supplies and weak offtakes from the native buyers.

At the NCDEX, maize futures for Dec 2015 contract closed at Rs. 1,481 per quintal, down by 1 per-cent, after unlocking at Rs. 1,475 against the previous closing price of Rs. 1,496. It attained the intra-day low of Rs. 1,475.

Sentiment weakened further as a result of a decline in the requirement for the commodity segment from bio-fuel making industries tracking the weak world markets. 

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Chana Ends lower on lack of Buying Interest

Chana prices closed lower by 0.81 per cent on Tuesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the steady sowing progress of pulses along with high supplies in major producing states. At the NCDEX, chana futures for Oct 2015 contract closed at Rs. 4,780 per quintal, down by 0.81 per cent, after opening at Rs. 4,751 against the previous closing price of Rs. 4,819. It touched the intra-day low of Rs. 4,746.

India is the largest Manufacture of chickpea followed by Iran Turkey and Pakistan,. India produces around 6 to 8 million tonnes and contributes around 70 % of the total world production. 

 

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