Cardamom prices rose by 1.56 per cent on Friday

Cardamom prices rose by 1.56 per cent on Friday at the Multi Commodity Exchange (MCX) on account of good buying support from both exporters and upcountry buyers and also on hopes of improved export demand. At MCX, Cardamom futures for August 2015 contract were trading at Rs 794.50 per kg, up by 1.56 per cent, after opening at Rs. 787 against the previous closing price of Rs. 782.30. It touched the intra-day high of Rs. 809.90 till the trading. (At 10.45 AM today). Sentiment improved further as a result of firm demand in the market against restricted arrivals from producing belts of Chandausi in Uttar Pradesh.Kerala (70 per cent), Karnataka (20 per cent) and Tamil Nadu (10 per cent) are the cardamom growing states in India while about 90 per cent of the produce is consumed within the nation. The important markets for cardamom in India are Vandanmendu, Bodinayakanur, Kumily, Thekkady, Kumbum and Pattiveeran Patti in Kerala.

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Jeera prices closed higher by 1.08 % on Wednesday

Jeera prices closed higher by 1.08 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the investors increased their holdings in the commodity in the midst limited arrivals from growing regions. At the NCDEX, jeera futures for August 2015 contract closed at Rs. 15,000 per quintal, up by 1.08 per cent, after opening at Rs. 14,915 against the previous closing price of Rs. 14,840. It touched the intra-day high of Rs. 15,000.Sentiment improved further as a result of reduced domestic supplies in the physical markets and some export enquiries.
 

               Global output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year. India exports Jeera mainly to the UK, UAE, US, Bangladesh, Japan, , Singapore ,Brazil, and many other countries. Other Major exporters are Turkey & Syria.

 

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Gold prices bounced back in early morning trade in the domestic market on Wednesday following significant losses in the prior session as traders await the outcome of the two-day US Federal Reserve policy meeting, for greater clarity over the outlook for interest rates in the world’s biggest economy.The world’s top central bank is pondering the timing for a maiden interest rate lift-off since 2006. However, the Fed may stop short of offering any major clues over the exact timing for a hike in borrowing costs as it awaits a heavy dosage of US economic data including jobs and Q2 GDP growth to determine the progress in the American economy after a Q1 stutter while heightened global risks and the strength of the dollar will also be weighed as the Fed considers when to say goodbye to its zero interest rate policy.Speculation that the ongoing turmoil in Chinese shares may have severe repercussions on Gold demand in the Asian nation, the world’s second biggest bullion consumer curbed gains in the yellow metal.At the MCX, Gold futures for August 2015 contract is trading at Rs 24,791 per 10 gram, up by 0.16 per cent after opening at Rs 24,778, against the previous closing price of Rs 24,752. It touched the intra-day high of Rs 24,799. (At 10:52 AM).

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Chana ends higher on thin supply

Chana prices closed lower by 1.4 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the steady sowing progress of pulses along with high supplies in major manufacturing states. At the NCDEX, chana futures for 08/ 2015 contract closed at Rs. 4,575 per quintal, down by 1.4%, after opening at Rs. 4,625 against the previous closing price of Rs. 4,640. It touched the intra-day low of Rs. 4,567.India is the largest producer of chickpea followed by Turkey and Iran,Pakistan,. India produces around 6 to 8 million tonnes and contributes around 70 per cent of the total world productionChana prices closed lower by 1.4 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the steady sowing progress of pulses along with high supplies in major manufacturing states. At the NCDEX, chana futures for 08/ 2015 contract closed at Rs. 4,575 per quintal, down by 1.4%, after opening at Rs. 4,625 against the previous closing price of Rs. 4,640. It touched the intra-day low of Rs. 4,567.India is the largest producer of chickpea followed by Turkey and Iran, Pakistan,. India produces around 6 to 8 million tonnes and contributes around 70 per cent of the total world production.

Barley Ends Lower on Dropping Demand

Barley prices closed lower by 0.89 per cent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the investors booked profits at the higher on account of the weak physical markets and also due to the fall in the demand from beer and cattle farmer . At the NCDEX, barley futures for August 2015 contract closed at Rs. 1,165 per quintal, down by 0.89 per cent, after opening at Rs. 1,171 against the previous closing price of Rs. 1,175.5. It touched the intra-day low of Rs. 1,158.5.Opinions weakened further on account of a surge in the arrivals of the commodity along with the sluggish demand on higher levels.Barley is a cereal grain derived from the annual grass Hordeum vulgare. This widely adaptable crop is popular in temperate areas where it is grown as a summer crop and tropical areas where it is sown as a winter crop

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Cardamom prices rose by 0.18 %

Cardamom prices rose by 0.18 per cent on Friday at the Multi Commodity Exchange (MCX) on account of good buying support from both exporters and upcountry buyers and also on hopes of improved export demand. At MCX, Cardamom futures for August 2015 contract were trading at Rs 779.50 per kg, up by 0.18 per cent, after opening at Rs. 777.20 against the previous closing price of Rs. 778.10. It touched the intra-day high of Rs. 782 till the trading. (At 10.45 AM today). Sentiment improved further as a result of firm demand in the market against restricted arrivals from producing belts of Chandausi in Uttar Pradesh.
Kerala (70 per cent), Karnataka (20 per cent) and Tamil Nadu (10 per cent) are the cardamom growing states in India while about 90 per cent of the produce is consumed within the nation. The important markets for cardamom in India are Vandanmendu, Bodinayakanur, Kumily, Thekkady, Kumbum and Pattiveeran Patti in Kerala.


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Mustard seed ends lower on waning demand

Mustard Seed prices closed lower by 0.05 percent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the profit booking by the traders on account of the weak crushing and export demand of mustard . At the NCDEX, Mustard Seed profit for August 2015 contract closed at Rs. 4,177 per quintal, down by 0.05 per cent, after opening at Rs. 4,208 against the previous closing price of Rs. 4,198. It touched the intra-day low of Rs. 4,161.Sentiment weakened further due to the heavy export demand as a result of the weak demand for the commodity.                 

                                      EU-27 accounts to about 34 per cent of worlds RM seed production, others major producers are China (23 percent), Canada (19 per cent), India (14 per cent), Australia (3 per cent), Ukraine (2 percent). India produces 5.5 million MT to7 million MT annually.

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Mcx Bullion - " Bullion remains in firm Bear grip "

Gold futures extended a prolonged losing streak in the domestic market on Tuesday as investors and speculators exited positions in the precious metal amidst heightened speculation that the US Federal Reserve will undertake a maiden interest rate lift-off since 2006, in the coming months, curbing the lure for the bullion as a store of value.A leading official from the US Federal Reserve sees a strong likelihood of the world’s top central bank raising borrowing costs in September, with inflation showing signs of picking up towards the Fed’s goal and labour market on the upswing.Federal Reserve St Louis Boss James Bullard has said that the odds of the Fed raising rates at its next policy meet in September are better than 50 per cent, backing up Fed Chair Janet Yellen’s recent statement which signaled an increased likelihood of a hike in borrowing costs at some point in 2015 amidst an improvement in the world’s biggest economy.However, the losses in Gold were trimmed by a weaker dollar which boosted the demand for the yellow metal as an subtitudenal asset. powerless greenback makes Gold low priced for those holding other currencies, thus boosting demand.Gold futures may trade on a cautious note today as traders eye key US housing data which will offer cues over the health of the world’s biggest economy.At the MCX, Gold futures for August 2015 contract closed at Rs 24,987 per 10 gram, down by 0.19 per cent afters tarting at Rs 24,961, against the previous ending price of Rs 25,034. It touched the intra-day low of Rs 24,865.

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Cardamom gains on hopes of improved demand

Cardamom prices rose by 0.41%  on Tuesday at the Multi Commodity Exchange (MCX) on account of good buying support from both exporters and upcountry buyers and also on hopes of improved export demand. At MCX, Cardamom futures for August 2015 contract were trading at Rs. 784 / kg, up by 0.41 %, after starting at Rs. 780 against the end closing price of Rs. 780.80. It touched the intra-day high of Rs. 785.60 till the trading. (At 10.45 AM today).Opinions enhanced further as a result of firm demand in the market against restricted arrivals from producing belts of Chandausi in Uttar Pradesh.Kerala (70 per cent), Karnataka (20 per cent) and Tamil Nadu (10 per cent) are the cardamom growing states in India while about 90 per cent of the produce is consumed with in the nation. The vital  markets for cardamom in India are , Bodinayakanur,Vandanmendu, Kumily, , Kumbum,Thekkady and Pattiveeran Patti in Kerala.

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"Crude Oil ends lower between continueous oversupply concerns"

Crude Oil prices ended lower in the domestic market on Friday in the midst of continuing fears of a glut of oversupply on the global energy markets. Oil services firm Baker Hughes said in its weekly rig count on Friday that US oil rigs last week declined by 7 to 638. A week before, the  count edged up by 5 to 645, marking the second successive week of weekly builds. Further, US UoM consumer sentiment fell unexpectedly last month signaling weak sentiment in the region which reduced the demand outlook for the fuel. In a report, the University of Michigan said that consumer sentiment fell to a seasonally adjusted 93.3, from 96.1 in the preceding month. At the MCX, Crude oil futures, for the 07 / 2015 contract, closed at Rs 3,208 per barrel, down by 1.44 per cent, after opening at Rs 3,250, against the previous close price of Rs 3,255. It touched an intraday low of Rs 3,187.

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India’s soybean meal exports drop 85% .

Farmers engaged,in soy cultivation are highly distressed as India’s soybean meal exports have dropped drastically by about 85 per cent from record level of 4.24 million tonnes (MT) during fiscal year (FY) 2008-09 to a meagre 0.64 MT in 2014-15, reveals an ASSOCHAM study. As per study report, given the strong monsoon, the country is expected to reap rich harvest of over 12 MT soybean meal putting further pressure on the domestic prices as India has become globally uncompetitive and import of soy oil push on to increase. “This powerfull slump in soybean meal exports from India is largely on account of speculation and an unrealistic approach in handling established export markets,” according to the study titled ‘Soybean: Time to re back lost ground,’ control by The Associated Chambers of Commerce and Industry of India (ASSOCHAM). Madhya Pradesh is known as ‘Soybeanpot of India,’ computing for lion’s share of 60 % of total production followed by Maharashtra (30 %t), while, Andhra Pradesh, Rajasthan, Karnataka, and Chhattisgarh,Gujarat together account for remaining share of 10 %t. “Soybean ouyline in India is currently at crossroads due to abnormal production, deny soybean meal exports and consistent idling of plants,broked soya oil output while edible oil imports are growing and currently account for almost 60 per cent of country’s total compulsion,” said Mr D.S. Rawat, national secretary general of ASSOCHAM while releasing the findings of the chamber’s study. “Unless a targeted path is initiated, India might completly loose export market for soybean meal that has been so assiduously build over decades,” said Mr Rawat. “Industry should adopt a pragmatic approach to revive lost markets on soybean meal export front,” he added. A constant rise in edible oil imports into the country is another worrying aspect highlighted by the study prepared by the Agri-business division of ASSOCHAM.

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Oversupply fears takes Oil down

Against the backdrop of exacerbating fears over a global supply glut amid the recently concluded Iran nuclear accord and record high US stockpiles and a surge in Saudi production, Oil traders punished the energy commodity, which tanked more than 1.7 per cent on Wednesday.Despite a 4.3 million barrels drop in US crude oil stockpiles in the week ended July 10, 2015, total storage at 461.4 million barrels remained at levels unseen at this time of the year in at least the past 80 years. Moreover, supplies at Cushing, the biggest US oil storage hub, climbed by 438,000 barrels last week.Meanwhile, investors weighed the Iran nuclear deal with the West earlier in the week which will pave the way for lifting of sanctions against the Islamic nation, allowing it to probably double its crude oil shipments.With production of Saudi Arabia already at record high, US inventories piling up, and millions of barrels of Iranian crude threatening to hit the market, bears have stung the energy commodity.Meanwhile, American factory output was little changed in June and overall industrial output climbed 0.3 per cent while the Fed’s Beige Book survey showed that the world’s biggest economy expanded at a moderate to modest pace in recent weeks, offering a mixed demand outlook for oil.Crude oil may rebound today as sharp losses in recent sessions may pave the way for value buying in the energy commodity.At the MCX, Crude oil futures, for the July 2015 contract, closed at Rs 3,288 per barrel, down by 1.76 per cent, after opening at Rs 3,376, against the previous close price of Rs 3,347. It touched an intraday low of Rs 3,272. 

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Crude Oil futures ended lower in the domestic market

Crude Oil futures ended lower in the domestic market on Tuesday after the West and Iran reached an agreement at Vienna to curb Iran’s nuclear program, paving the way for a lift-off of approval against the Islamic nation,confessing it to upgrade its crude oil shipments, agitate a global inventory glut. According to publish reports, expert from Iran, and six world powers including the china, us, france, braitan, Russia and germany have reached an agreement to curb Iran’s contend nuclear program. Oil cracked amidst consideration that Iran may double its oil shipments immediately after sanctions are lifted, flooding markets with even more crude. Sentiment weakened further after German economic sentiment deteriorated to the lowest level in eight months in July, as interest over Greece's debt crisis weighed which reduced the demand outlook for the fuel. The ZEW Centre for Economic Research said that its index of German economic sentiment fell by 1.8 points to 29.7 this month from June’s reading of 31.5. Analysts had expected the index to drop by 2.5 points to 29.0 in July. Oil may trade on a subdued note today amid ongoing talks between Iran and the West. At the MCX, Crude oil futures, for the July 2015 contract, closed at Rs 3,347 per barrel, down by 0.09 per cent, after opening at Rs 3,340, against the previous close amount of Rs 3,350. It touched an intraday low of Rs 3,235.

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The bullion was in reverse gear on Monday as a Greek debt deal put to rest fears over the country’s exit from the euro,Assisting  global stock markets and eroding safe haven buying in Gold. Europe agreed to bail out the debt ridden Mediterranean nation after Greece agreed to ramp up reforms demanded by invester, winning new European bailout aid worth 86 billion euro, helping the cash-strapped nation to remain a part of the single currency union. Prime Minister Alexis Tsipras took a u-turn on his stand on austerity measures, submitting to creditors’ demands for streamlining value added taxes, broadening the tax base to boost revenue and limiting pension costs. The strength of the dollar also cut the demand for Gold as an alternative asset. Stronger dollar makes Gold more expensive for those holding other currencies, thus dimming demand. Meanwhile, traders also weighed Friday’s comments from Fed Chair Janet Yellen who signaled that rate tightening may begin at some point this year, curbing the lure for Gold as a store of value. Gold may extend a drop today as traders stay on the sidelines ahead of Tuesday’s US retail sales data and Yellen speech tomorrow where she may offer cues over when the world’s top central bank plans to raise interest rates for the first time since 2006. At the MCX, Gold futures for August 2015 contract closed at Rs 26,024 per 10 gram, down by 0.13 per cent after opening at Rs 26,115, against the previous closing price of Rs 26,058. It touched the intra-day low of Rs 25,937 till the closing.   

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"jeera closes higher on increased holdings'

Jeera prices closed higher by 0.74 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the investors increased their holdings in the commodity in the midst limited arrivals from growing Areas. At the NCDEX, jeera futures for 07/ 2015 contract closed at Rs. 16,280 per quintal, up by 0.74 per cent, after opening at Rs. 16,275 against the previous closing price of Rs. 16,160. It touched the intra-day high of Rs. 16,375 Sentiment improved further as a result of reduced domestic supplies in the physical markets and some export enquiries.Global output of Jeera is around 2.2 lakh MT per year, of which India yield about 1.5 lakh MT per year. India exports Jeera mainly to the Uk, Us, UAE, Bangladesh, Singapore, Japan, , Brazil and many other countries. Other Major exporters are turkey and Syria. 

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" Gold closes lower on weak global cues "

Gold prices ended flat in the domestic market on Friday as traders digested strong indications from Janet Yellen that the Federal Reserve will raise interest rates this year and markets throughout the euro zone moved broadly higher amid optimism of a Greek deal. Greece Prime Minister Alexis Tsipras sought support from members of parliament for backing of a €53.5 billion austerity plan through the European Stability Mechanism (ESM). Yellen said that the Fed is on track to raise interest rates at some point this year. The observation from Yellen are her most definitive to date on the timing of a 2015 rate hike. However, losses were limited as the greenback eased on Friday, bolstering the demand for the bullion as an alternative asset. A softer dollar makes Gold less expensive for those holding other currencies, thus lifting Gold demand. At the MCX, Gold futures for August 2015 contract closed at Rs 26,058 per 10 gram, down by 0.02 per cent after cracking at Rs 26,088, against the earlier closing price of Rs 26,064. It touched the intra-day low of Rs 26,017 till the closing.

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DAILY BUZZ ON FREE AGRI TIPS

JEERA & CARDAMOM

Jeera settled up by 0.77% at 16340 on reports on export enquiries on concern over the production estimates. Currently, the traders and stockist are active in the spot market to serve the demand from the domestic market. There is expectation of revival of export demand on short supply. Still the quality issues and supply concerns from the production states keep the prices volatile. As per third advance estimate of Gujarat State, production is expected at 1.58 lakh tonnes in 2014-15 which is 54.3 per cent lower compared to last years’ production of 3.46 lakh tonnes.

                                     cardamom prices advanced 0.24 per cent to Rs 846.00 per kg in futures trading today on the back of rising demand at the spot market. Besides, restricted arrivals from producing regions supported the upside. At the Multi Commodity Exchange, cardamom fordelivery this month gained Rs 2, or 0.24 per cent to Rs 846.00 per kg in a business turnover of 5 lots. Similarly, the spice for delivery in August contracts traded higher by 70 paise, or 0.09 per cent to Rs 814.70 per kg in 95 lots. 

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Natural Gas receives a boost from weather outlook

Natural Gas futures gather in the domestic market on Thursday as investors and speculators booked fresh positions in the energy commodity amid speculation that warmer weather across the US in the coming weeks may boost the demand for the fuel from power plants.The Commodity Weather Group LLC predicted that temperatures in parts of the Midwest and West will rise next week, spurring the need for gas-fired cooling at homes and offices. Meanwhile, US gas supplies climbed by 91 billion cubic feet to 2.668 trillion cubic feet in the week ended July 3, 2015, more than the estimated 85 billion cubic feet by analysts and topping the five-year average gain of 75 billion cubic feet but lower than the 94 billion cubic feet advance in the same period a year ago.At the MCX, Natural Gas futures for July 2015 contract closed at Rs 173 per 1 kg, up by 0.70 per cent after opening at Rs 171.40, against the previous closing price of Rs 171.8. It touched the intra-day high of Rs 173.30 till the closing.

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Gold regains its glitters on Greek , China still Nervous..

Scripting a smart rebound, the yellow metal bounced back on Wednesday as heightened turmoil in China’s equities and fears that Greece may be pushed out of the euro bolstered safe haven demand for Gold.China’s stock market rout showed no signs of easing with the Shanghai Composite bleeding nearly 6 per cent on Wednesday, defying government measures to arrest a near four-week slump in equities.Late Wednesday, China banned major shareholders from selling stakes in listed companies, the latest in a series of measures undertaken by policymakers that have included interest rate cuts to loosening of bank’s reserve requirements and suspension of new share sales to restore confidence in the country’s stock market that has eroded more than USD 3 trillion in value.Meanwhile, Greece has until Thursday night to submit fresh economic reform measures including spending cuts to press for a new bailout and convince European leaders to keep the cash-strapped country in the euro. Greece on Wednesday made an official request for a three-year bailout from Europe’s bailout fund , Esa.

A weaker dollar boosted the lure for Gold as an alternative resource. Weaker greenback makes Gold low cost for those holding other currencies, thus pick up demand.Opinion that the US Federal Reserve may push back the timeline for a maiden rate lift-off since 2006 amidst global headwinds also bolstered the bullion’s appeal as a store of value.The FOMC minutes which highlighted risks from Greece to China, to the US economy stressed that officials are awaiting a further evidence of stronger economic growth including a pickup in consumer spending before deciding to tighten policy.Gold may extend gains today on expectations of delayed US rate lift-off while awaiting Greece’s response to Europe’s calls for a wave of new reforms to win new bailout aid.At the MCX, Gold futures for August 2015 contract closed at Rs 26,213 per 10 gram, up by 0.70 per cent after Starting at Rs 26,008, against the previous end priceing of Rs 26,032. It touched the intra-day high of Rs 26,248 till the closing.

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News On Mcx Crude tips - " Crude oil Merchants hit panic mode "

Mcx Crude Tips Bears strengthened grip on crude oil as the energy commodity sank more than 2 per cent in the domestic market on Tuesday as traders weighed the prospect of reduced demand from Europe and China, and a surge in Iranian oil shipments that threatened to exasperate a global supply glut.European leaders on Tuesday gave a five-day ultimatum to Greece to submit a new set of reforms to receive fresh rescue aid from creditors or risk being pushed out of the currency union, the jitters of which may cause ripples across other European markets, slow the region’s economy, hence curbing energy demand.Meanwhile, China’s stocks resumed a sell-off on Tuesday, defying steps by policymakers to arrest a stock market rout and restore confidence in equities, including suspension of new share sales and pledges by mutual funds to increase investment in their stock funds, raising concerns over economic stability in China, the world’s second biggest energy consumer, prompting investors to exit risky assets.Meanwhile, Iran and the West agreed to extend a deadline for a final deal over the country’s nuclear program to Friday with the US State Department insisting that talks in Vienna between top Iranian officials and Western diplomats yielded significant progress over the past two days.

A deal on a long standing nuclear row could pave the way for lifting of sanctions on Iran, allowing the country to double its crude exports in an already oversupplied market.Meanwhile, the EIA boosted its US crude oil production forecast for 2015 to 750,000 barrels per day from 720,000 barrels per day, adding to the bearish sentiment.Traders cast aside data which showed that job openings in the US soared to a record high in May, signaling a strengthening labour market recovery in the world’s biggest economy. The number of job positions in the US waiting to be filled climbed by 29,000 to 5.36 million in May 2015 from the previous month.Oil may rebound today after a drop in US crude oil stockpiles last week signaled a pickup in demand for the fuel in the world’s biggest energy consumer. US crude oil supplies fell 958,000 barrels last week, the API said.At the MCX, Crude oil futures, for the July 2015 contract, closed at Rs 3,306 per barrel, down by 2.3 per cent, after starting at Rs 3,370, against the end close price of Rs 3,384. It touched an intraday low of Rs 3,226.

MCX Energy Tip Update -- " Oil Holds Extended Bearing "

1. In MCX Energy tips,Oil prices extended a decline in the domestic market on Thursday as a surprise bump in US crude stockpiles last week and an uptick in the country’s oil rig count signaled an increase in production, going forward, exacerbating a global supply glut The number of active US oil drilling rigs climbed by 12 to 640 in the week ended July 2, the first increase in 30 weeks, Baker Hughes said Nerves surrounding the fate of Greece which is on the brink of an exit from the euro and the state of Iran nuclear negotiations which could flood oil markets with millions of barrels of Iranian crude also kept the energy commodity under pressure.Insipid US data which showed that American employers added fewer jobs in June than in May while the size of the workforce receded and monthly earnings at private employers stalled, signaled doubts over the health of the labour market in the world’s biggest economy, trundown the bid outlook for the fuel in the world’s biggest economy.The US economy added 223,000 jobs in 06/ related to May’s downwardly revised 254,000 while jobless claims raised by 10,000 to 281,000 in the week closed to June 27, 2015.Further, bookings for American factory goods slipped 1 per cent in May from the previous month, signaling underlying weakness in US manufacturing, marring sentiment.However, a weaker dollar lessened crude’s pain by bolstering the demand for the fuel as an alternative investment. Weaker greenback makes Oil cheaper for those holding other currencies, thus boosting demand.Oil may continue to remain lower today as a sharp slowdown in China’s services activity in June signaled a worsening growth outlook in the world’s second biggest oil consuming nation.At the MCX, Crude oil futures, for the July 2015 contract, closed at Rs 3,641 per barrel, down by 0.22 per cent, after cracking at Rs 3,636, against the previous end price of Rs 3,649. It touched an intraday low of Rs 3,621.

Agri Tips Update - "Chana ends higher on limited stocks"

In  Agri Tips ,Chana prices closed higher 2.02 % on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the traders enlarged their holdings in the commodity on account of the good demand in the market. At the NCDEX, chana planned for 07/ 15 contract closed at Rs. 4,249 per quintal, up by 2.02 per cent, after opening at Rs. 4,184 against the previous closing price of Rs. 4,165. It touched the intra-day high of Rs. 4,273.Moreover, the restricted arrivals of the commodity in the physical market due to lower estimated output also influenced the chana prices.India is the biggest manufacturer of chanapea followed by iran. Turkey and Pakistan. India produces around 6 to 8 million tonnes and contributes around 70%  of the total world production.

Lead Upcoming Advantage on Industrial Demand

Lead prices moved up by 0.27 per cent to Rs 112.60 per kg in futures trading today as speculators expanded Area, driven by rising demand from battery-maker in the spot market amid firm global trend.At the MCX, Lead upcoming, for the July 2015 contract, is trading at Rs 112.60 per kg, up by 0.27 per cent, after opening at Rs 112.60, against a previous close of Rs 112.30. It touched an intra-day huge of Rs 112.75 till the trading. (At 3.15 PM today).Sentiment improved further due to the decline in the lead stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME lead stocks fell by 1050 metric tonnes to 173975 metric tonnes as on 1/07/15.