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Monday, 24 August 2015

Agri - Commodity Market Update 24 AUG 2015

24 AUG  2015 :-
Chana kept trading with high volatility last week as the initial uptrend from rising demand was followed by profit booking at the higher levels. Reports of further imports too kept pressure on the rising rates. Falling stocks and rising domestic demand would likely support the prices in coming weeks. Availability of chana is falling in Jalgaon, Gulbarga and Akola apart from Rajasthan, MP and Maharashtra. As per traders, fall in stocks is seen gradually and moreover, there is much time for new crop arrival. Daal mills demand is also likely to increase in coming days.

Mentha Oil continued to find some strong support last week as demand started rising in the mandis . The downtrend may be limited as rising demand amidst lower arrivals supported the prices. Sources indicate rates have fallen to low levels over last few weeks and further fall may be limited as domestic and export demand rise.

JEERA : -As per the Agriculture Ministry, around 2.14 lakh ha crop has been damaged in Rajasthan, while 9,000 ha was damaged in Gujarat. In Gujarat, the total acreage is down 42% to 2.64 lakh ha compared to 4.54 lakh ha in 13-14. Jeera lost ground to coriander, fennel and fenugreek seed on comparatively lesser profit realisation in jeera during the last 2 years.

GUARSEED : -Fall in exports in April-June 2015-16 estimated at 61,821 tonnes vs 1.18 lakh tons same period last year—a fall of 48% have been noted, as per Govt reports. In 2014-15, guar production is estimated at around 20-22 lakh tonnes, as per Ministry of Agriculture, down 18-20% vs last year production of 25-27 lakh tonnes. With India exporting to European countries, the present financial crisis in Greece may adversely affect export demand from some European nations.

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