Thursday 19 February 2015

AGRI COMMODITY MARKET REPORT - 20 FEB 2015

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NCDEX TURMERIC April futures traded on a surged on Thursday(5.00pm). Turmeric spice incresed by 1.35% to 8878 level at NCDEX .Telangana State Agricultural University projected higher prices for turmeric at the time of harvesting this year. Telangana and Andhra Pradesh produce the crop that gives farmers very high returns. There has been an increase in cultivation of turmeric in both the States.
NCDEX SOYABEAN April futures sluggished by -0.59 % in the last trading to close at 3390 level till Thursday closing. Moderate-recovery in the International markets could pull the falling Indian rates also. Traders expect prices have fallen lot and some short term recovery not ruled out this week.
NCDEX CHANA futures traded on a negative note on decreased demand on Thursday(5.00PM). Chana April contract loosed -0.75% to 3694 levels. recovery could be noted for Chana as rains in the growing states continued to pressurize market sentiments. Rains in growing areas in Rajasthan, MP and UP are reportedly beneficial for the standing crop.
The NCDEX DHANIYA April futures slipped by -3.19% in the last trading to close at 6595 level on Thursday. Sentiment weakened further as speculators reduced their positions on the back of sluggish demand in the market. Dhaniya is common in South Asian Middle Eastern Central Asian Mediterrane an Indian Tex-Mex Latin American Portuguese Chinese African and Scandinavian.
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