MCX & NCDEX Agri Commodity News

MCX Potato-Potato falls for second day on low demand

Potato prices fell for the second day on Today at the Multi Commodity Exchange (MCX) as a result of easy availability in the physical markets following fresh arrivals from producing regions in UP, Punjab, MP and West Bengal. Potato futures for June 2013 contract, at MCX, were trading at Rs 905.90 per 100 kg, down by 0.13 per cent after opening at Rs. 892.20 against the previous closing price of Rs. 907.10.Prices also fell as traders offloaded their positions due to low demand in the domestic markets in the midst of adequate stocks. The major potato markets in UP are Agra, Hathras, Kanpur, Meerut, Farrukkhabad; Jalandhar, Ludhiana, Phul and Patiala in Punjab; Ujjain, Indore and Dewas in MP and Hoogly, Burdwan and Howrah in West Bengal.

NCDEX Soybean-Soybean futures up on pickup in physical demand

Soybean futures rose in the domestic market on Today as investors and speculators created fresh position in the agri-commodity amid a pickup in physical demand for soybean in the domestic spot market. Further, reduced physical arrivals of soybean from the major producing regions also exerted upward pressure on prices. Soybean plantations may surge to a record high this year. Experts reckon that a bigger harvest may boost overseas shipments of the animal feed. At the National Commodity and Derivatives Exchange (NCDEX), Soybean for the June 2013 delivery contract is trading at 3,831.5 per quintal, up by 0.79 per cent, after opening at Rs 3,812, against a previous close of Rs 3,801.5.

NCDEX Chilli-Chilli falls by 0.5% on high selling activity

Chilli prices fell by 0.5 per cent on Today at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of heavy selling activity of the commodity by the investors as a higher output is estimated. At the NCDEX, chilli futures for June 2013 contract was trading at Rs. 5,614 per quintal, down by 0.5 per cent, after opening at Rs. 5,646 against the previous closing price of Rs. 5,642.Global production of chilli stands at about 20.00 lakh MT to 25.00 lakh MT per annum. India is the largest producer and contributes about 10.00 lakh MT to 12 lakh MT annually followed by China, Nigeria, Peru, Bangladesh, Hungary.