Commodity Market News Today 19th March

1. Domestic oil seed and edible oil end mostly higher  

Domestic oil seed and edible oil futures ended mostly in the green zone on Friday. Soy oil April contract gained one per cent on firm BMD palm oil. Soybean April contract followed the suit on strong eCBOT. Mustard seed ended up a tad while castor seed shed moderately towards end of the trading session. 

Mustard Seed

Mustard seed futures April contract closed up at Rs 2736.00 [+8.00] per 100 kg with 56,680 lots traded. Open interest for the contract was 60,640 lots.

Castor Seed 

Castor seed futures June contract on RBOT ended at Rs 4,593.00 [-23.00] per 100 kg.

2. Kapas posts moderate gains on NCDEX   

Kapas futures posted moderate gains on National Commodity and Derivatives Exchange (NCDEX) while it settled down a tad on Surendra Nagar Cotton Exchange (SNCE) Friday.

NCDEX April, 2011 contract ended at Rs 1,175 per 20 kg, up Rs five and moved in the range of Rs 1,191.80- 1,172.70. Volume of the contract stood at 2,717 tons. Open interest for the contract was 2,682 lots.

SNCE April, 2011 contract edged down Re 0.10 at Rs 734.40 per 20 kg and fluctuated in the range of Rs 734.40- 734.30. 

3. Mumbai pulses market settles steady

Most of the imported raw pulses remained more or less steady on sluggish demand in the closing session of trade at the Mumbai pulses market Friday.

Report for Chennai pulses market- Burma urad SQ and FAQ variety quoted steady at Rs 4,725 and Rs 4,025 per quintal respectively due to lack of trading enquiries from local and outside traders and millers. Burma lemon tur also remained steady to Rs 3,800 per quintal on lull miller’s trade. On other hand, no ready stock of Burma moong Pedisheva variety was reported.

Report for Kolkata market- Burma urad FAQ variety stayed steady at Rs 4,250 per quintal in the absence of demand. Burma lemon tur also offered stable to Rs 3,750 per quintal due to lack of millers trading enquiries.

Report for Delhi market- Burma urad both FAQ and SQ variety priced steady to Rs 4,200 and Rs 4,900 per quintal respectively on dull trading activities. 

4. Sugar prices going high

 

Chinese fast this week has seen the spot price. Mumbai spot market price of sugar reached around 2,900 per quintal. However, in the meantime the international market price of sugar has gone down. Aliffe $ 850 per tonne down from the Chinese to come around is $ 680 per ton. Exports, the Government has not as yet no clear trend.

5. Gold gained , Silver Slipped

Investors are showing sign of relief from the  impact of Japan crisis. Because of investors gold has surpassed the level of 1,400 dollars per ounce .

Comacs 0.6 percent on the strength of gold per ounce with a 1404.20 dollar is trading. Although silver is witnessing weakness. Dropped by 0.6 percent to $ 34.26 on Comacs silver ounces is business.

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