| MARKET
TREND
CHEMICALS
Weakness of demand from industrial users amid surge in imports and
inflows saw prices tumbling down on Monday on the local Chemical
market. Murcury lost ground heavy at Rs.44000 from 45000 per 34.5
kg. last due to huge imports from many countries. Potassium permangnate
plunged to Rs.7000 from Rs.7200 per 50 kg. due to deluge of imports
from China and America. However as festive buying was over, Camphor
slab and powder fell by Rs.5/10 to Rs.178/180 and Rs.155/160 per
kg. Zinc oxide was off Rs.2 at Rs.70/80 per kg. in Menthol products,
on low arrivals Mentha oil, Menthol flake and bold moved up by Rs.5/6
per kg. Hydrozen peroxide shed Rs.1/2 per kg. for want of demand.
GRAINS & PULSES:
The wholesale grains and pulses market showed a flat trend in thin
the trade on Monday. Traders said as the rain accros the markets
in Northern regions continued, the activities have slowed down,
impacting the demand from upcountry areas. With supply position
being weak, maize of Bihar was sold at further higher rates of Rs.665/670
per quintal. Bajra for cattle feeding also was marked up at Rs.648/650
on surged offtake. Wheat dara and rice prices hovered around previous
close in anticipation of demand. In pulses, in view of concerns
about supplies amid higher outside advices, prices ruled firmly
at last close. However, mainly due to profit-taking gram eased back
to Rs.1765/1870, off Rs.25/30 per quintal for the Rajasthani quality.
Gram dal also was off by Rs.20/30 per quintal in thin trade.
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Agribusiness (Commodity Prices):
BULLION:
An improving trend prevailed in the local bullion market on Monday
as apart from the festive season buying, prices of both the precious
metals showed recovery in overseas markets. Sources told that new
arrivals had declined while stockists reduced offerings. Inflow
of imported silver was only 2000 kg. daily in the market. Therefore,
as London silver moved up to 701/703 from 698 cents per ounce, the
spot prices went up to Rs.10550 from last close of Rs.10485, a recovery
of increase Rs.65 per kg. The demand was likely to come up from
Mathura, Agra and places of Rajasthan. In gold one kg. bar was traded
Rs.10 higher at Rs.6020 per 10 gram. The gold arrivals has been
partly at around 100 kg. daily for last many days, as against a
good demand. In London gold firmed up at $422.40 from $420 per ounce.
GUR & SUGAR:
Mill Delivery sugar prices moved higher on the back of festive buying
on Monday gaining Rs.5/10 per quintal. Private, cooperative and
corporation mills offered their gate price between Rs.1715/1775
per quintal, slightly up from Yesterday. In private mills section,
Mawana traded atRs.1775 against Rs.1768 per quintal quoted Yesterday.
Dauralla moved to Rs.1770 from Rs.1765 per quintal. Due to limited
inflow from Muzzafar Nagar, gur gethered strength at Rs.1725/1775,
gaining Rs. 5/25 per quintal. Shakkar stood at last close of Rs.1800/1820
in scattered deals.
SPICES & DRY-FRUITS:
Cardamom brown kanchicut quality traded on a bullish note due to
restricted supplies and gained Rs.3 in the intra day trade at Rs.118/145
per kg. That was the only change in spices while in dry fruits,
almond Girdi fell heavily by Rs.150 at Rs.3500 per 40 kg due to
imports from Afghanistan. Fig average quality flared up by Rs.500
to Rs.3300/3500 per 40 kg. as the import became unviable. Copra
pluged to Rs.8150/8600, a loss of Rs.100/150 per quintal due to
lack of adequate demand.
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