NCDEX Potato Tips

Potato arrivals in the Azadpur mandi in the state of Delhi stood at 125 trucks (120 trucks as on 31st October 2012). Among the varieties, Punjab quoted steady in the range of Rs 850-900 per quintal, while new crop from UP quoted steady in the range of Rs 750-800 per quintal.

NCDEX Tips Trial

 Sugar prices on the Vashi market showed a mixed trend on Wednesday (31 October 2012). Prices in spot ruled steady on routine demand - supply while at naka level it improved by Rs 5 for M grade and declined by Rs 10-15 for S grade. Mill tender rates rose by Rs 10-15 on higher festival demand and firm futures markets.

According to the Bombay Sugar Merchants Association, the spot sugar rates were: S-grade Rs 3,492-3,561 (Rs 3,492-3,561) and M-grade Rs 3,552-3,701 (Rs 3,550- 3,701). Naka delivery rates were: S-grade Rs 3,440-3,480 (Rs 3,450-3,500) and M-grade Rs 3,500-3,650 (Rs 3,500-3,650).

NCDEX Chill Updates

Chilli futures declined on profit taking of the last five sessions gains. The weak export demand and strong crop size is limiting the gains. The NCDEX Chilli November contract ended the day at Rs 4972, down Rs 72 or 1.43% from last close.Chilli 334 prices were quoted at Rs 5,300-5,500 per quintal in the Guntur spot market. The total arrivals stood steady at 25,000 bags (5,000 bags of Khammamteja).

Lower export demand has been dragging chilli prices down. The prices are expected to remain low in the coming months as harvesting of the new crop begins in December.Expectations of better output in Guntur, one of the major chilli-growing areas in the country, have also led to a decline in prices. Since August, arrivals from Madhya Pradesh have been good and the output from the state is expected to be 20 per cent higher this year. On the other hand, carry-forward stocks are at least 15 to 20 lakh bags higher than usual.

Chilli futures November contract tumbled Rs 1800 or 27% from the August first week high Rs 6600 to the low of Rs 4800 level in October. The counter witnessed relief rally of Rs 260 towards Rs 5066 level, however, dipped thereafter with counter hitting back low of Rs 4944 level. The NCDEX Chilli November contract ended the day at Rs 4972, down Rs 72 or 1.43% from last close. The open interest declined 540 long position, indicating profit taking.

Ncdex Updates

As per the latest release from Vietnam Food Association's (VFA's), Vietnam's rice exports from the beginning of the year to October 16 have reached over 6.1 million tonnes, closer to the new export target of a record 7.5 million tonnes, up about 5% or 400,000 tonnes from last year.

After a slow start this year, Vietnam's rice exports have been steady helped by increased exports to China, and also to Indonesia and the Philippines, in part due to its competitiveness compared to more expensive Thai rice. However, increasing exports and lower supplies are now pushing average prices of Viet rice higher.

NCDEX Pepper NOV Updates

Pepper NOV  ended up for the third day on strong spot demand against the weak arrival. The NCDEXPepper November ended the day at Rs 43500, up Rs 225 or 0.52% from the last close.

Pepper arrivals were steady at 200 quintals and off takes increased to 300 quintals from 250 quintals. Black Pepper for ready delivery in Kochi, closed Friday's trading session on positive note with MG-1 at Rs 41,900, up by Rs 100 and Un-Garbled pepper at Rs 40,400, up by Rs 100 per 100 kg.

India's total production of pepper during the year 2012 was estimated at 43,000 tonnes against 48,000 tonnes in 2011. India's crop dipped due to old vines, static acreage, low replanting and high labor cost. Besides, unfavorable weather conditions in 2011-12 affected the production. There are reports the next year crop will be slightly better around 50,000 tonnes as crop condition in Idukki in Kerala and Karnataka are likely to be better. The crop is expected to come after mid December only.

Pepper gained 3% in the last three sessions to Rs 43600 level on strong domestic demand. The counter ended the day at Rs 43500, up Rs 225 or 0.52% from last close and the open interest added 4.23% to 5,137 tonnes, indicating fresh buying.

NCDEX Chana News

Chana futures gained on fresh buying lead by festive demand against the restricted arrivals. The NCDEX Chana November contract ended the day at Rs 4820, up Rs 94 or 2% from the last day close.

According to the first advance estimates, Kharif pulses output is estimated lower by 14.6% at 5.26 million tonnes compared with 6.16 mn tn last year. However, higher sowing hopes due to late revival of monsoon rains in producing regions restricted the rise.
The spot prices of Akola mix were reported at Rs 4850 per quintal and Chapa quality were at Rs 4950 per quintal in the early trades, down Rs 50 from the previous day. The total daily arrivals were hovering at the levels of around 30,000 bags, against 35000 bags in last day.

Chana futures slipped in the previous two sessions on profit taking of the earlier gains. The counter bounced back from the session low at Rs 4682 and ended the day at Rs 4820, up Rs 94 or 2% from the last day close. The open interest added 20% to 96,720 tonnes, indicating short selling.

Weekly Report CHANA

Chana futures trade with smart gains on appearance of fresh order. Strong millers off take ahead of upcoming festival demand spur strong gains in both spot and futures market in the last few session. The NCDEX Chana most active November contract ended the day at Rs 4805, up Rs 169 or 3.65% from the last close.

The spot prices of Akola mix were reported at Rs 4750 per quintal and Chapa excellence were at Rs 4800 per quintal, up Rs 50 from the previous day. The total daily arrivals were balanced at the levels of around 40,000 bags over 30000 bags in the entire major mandis.

Most of the millers of North India have witness active buying interest in local mandies. Moreover, poor moisture content in some parts of the chana growing states might also add speculative demand in local mandis. According to the first advance estimates, Kharif pulses output is estimated lower by 14.6% at 5.26 million tonnes compared with 6.16 mn tn last year.

Chana hit one month high at Rs 4819 level and ended the day up at Rs 4805, up Rs 169 or 3.65% from the last close. The open interest added 3% to 71,040 tones, indicating fresh buying.chana