AGRI COMMODITY MARKET REPORT - 23 FEB 2015

Turmeric April futures traded on a surged on Friday(5.00pm)at India's National Commodity & Derivatives Exchange(NCDEX). NCDEX Turmeric spice incresed by 2.25% to 9080 level . 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 -0.09% in the last trading to close at 3392 level till Friday closing. Moderate recovery in the International markets could pull the falling Indian rates also. Traders expect prices have fallen a lot and some short term recovery not ruled out this week.
NCDEX Chana futures traded on a negative note on decresed demand on Thursday(5.00PM). Chana April contract lossed -0.79% to 3665 levels.No recovery could be noted for Chana as rains in the growing states continued to pressurize market sentiments. Rains ingrowing areas in Rajasthan, MP and UP are reportedly beneficial for the standing crop.

NCDEX Dhaniya April futures slipped by-2.60% in the last trading to close at 6433 level on Friday. 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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