Rapeseed Output Expected to Fall

By NCDEX India ~ March 14th, 2012. Filed under: Commodities, MCX, National Commodity and Derivative Exchange, NCDEX, NCDEX Commodities Trading List, Pepper, Rape Mustard Seed, Soya Bean, Soya Oil.

At NCDEX, 487 members (2,166 Users) participated in trading on March 14, 2012 up to 5:00 pm and volumes were Rs 125,261 crore (one-way). There were more than 7,493 trades put through by them. Active trades were high in among others Soya Oil, Rape Mustard Seed, Chana, Soyabean and Pepper.  Indian oilseeds and soyoil futures rose on Tuesday in line with a rally in overseas markets, an improvement in export demand for soymeal and as arrivals of rapeseed in the local spot markets were lower than expected. India’s rapeseed output is expected to fall.

NCDEX Trade Details for March 13, 2012

By NCDEX India ~ March 13th, 2012. Filed under: Agricultural Products, Chana, Pepper, Rape Mustard Seed, Soya Bean.

At NCDEX, 488 members (2,118 Users) participated in trading on March 13, 2012 up to 5:00 pm and volumes were Rs 117,496 crore (one-way). There were more than 7,006 trades put through by them. Active trades were high in among others Soya Oil, Rape Mustard Seed, Chana, Soyabean and Pepper.
On March 12, 2012, 491 (2,060 Users) members participated in trading and put through more than 120,791 trades. The volume for the whole day trading was Rs.7,105 crore (one-way). Active trades were high in among others Soya Oil, Rape Mustard Seed, Chana, Soyabean and Pepper.

Chilli Surges on Fresh Buying

By NCDEX India ~ August 15th, 2011. Filed under: Agricultural Products, Chili, Chilli, Futures, National Commodity and Derivative Exchange, NCDEX, NCDEX Commodities Trading List, Pepper.

Chilli futures rose on Friday on fresh buying by the traders due to limited stocks in the spot market.

Demand from overseas buyers also increasing for the upcoming festive seasons.

At NCDEX Chilli August contract is now trading at Rs.9158 per quintal, higher by 2.60% or Rs.232 against the previous close.

The contract traded at high of Rs. 9210 per quintal and a low of Rs.8860 in the early sessions. Open interest of the contract is 14490 lots so far.

Today’s arrivals are approximately around 15,000 to 20,000 bags and the NCDEX quality loose price is 7800 – 8400 Rs/Qtl.

Weak monsoon in A.P is having an impact on the Chilli sowing, till now sowing has been done in 0.14 Lakh Ha vis-à-vis 0.25 Lakh Ha previous year.

Chilli Exports for the 1st quarter of 2011-12 was at 40,500 MT as against 64,000 MT for the same period of 2010- 11.


This weeks NCDEX Futures Tumbles

By NCDEX India ~ August 9th, 2011. Filed under: Jeera, NCDEX, Pepper, Trading, Turmeric.

NCDEX Pepper Tumbles More Than 1%

Pepper futures tumbled further on weak sentiment. Pepper futures in the intraday are expected to trade sideways due to lackluster trades at the domestic market. Fresh enquires from the domestic buyers ahead of festivals might support prices in the short term (till August). However, as the prices of Indian origin are being quoted at higher levels overseas buyers might stay away from Indian market thereby restricting major upside in the prices.

Black Pepper for ready delivery in Kochi, closed Monday’s trading session (as on 8th August 2011) with negative note at Rs. 28,600, down by Rs. 100 over last close. Pepper arrivals in Kochi Mandi increased to 150 quintals on Monday as on 8th August 2011 from 100 quintals, meanwhile offtakes decreased to 150 quintals from 200 quintals as on Saturday.

Prices of Indian origin are quoting at higher levels of around $6,850-$6,875/tonne while Brazil and Indonesia are offering at lower rates. This is likely to restrict overseas buyers to India. Harvesting is progressing well in Brazil and Indonesia, this will also added some weakness in the pepper.

In today’s early trading session, pepper for the August delivery tumbled by 1.10% or Rs.317 to the session low of Rs. 28360 per 100 kg. The contract is currently hovering at Rs.28400 per 100 kg.

The next support is at Rs. 28162, Rs. 27930 and resistance is at Rs. 28610, Rs. 28800 per 100 kg.

NCDEX Turmeric plunges on subdued demand

Turmeric futures tumbled today on the back of sluggish demand from the physicalmarkets amid higher stocks.

At NCDEX Turmeric August contract is now trading at Rs.6288 per quintal, higher by Rs.234 or 3.59% against the previous close. In the morning session the contract traded at a range of Rs.6262-6452 per quintal. Open interest of the contract is 7005 lots as of now.

Low demand and reports of higher production and stocks in mandis are likely to pressurize the prices to some extent. There are expectations however of demand rising in coming weeks that could support the falling prices.

Sowing has started in the growing areas in Andhra Pradesh and the progress is reportedly satisfactory. Good Monsoon progress is also reportedly keeping the sowing activities proper. The area sown would however depend on the market rates and if the falling trend continues, traders expect the sowing area may fall as farmers may shift to other lucrative crops like cotton, soybean etc.

Jeera Slumps Nearly 4% On Weak Export Demand, Weak Spices Sector


Indian Jeera futures dropped further on long liquidation amid weak spices complex. The spices complex tumbled on weak global commodities on US debt worries. The NCDEX Jeera September contract ended the last session down by 2% at Rs. 15,483 after hitting the low of Rs. 15430 per 100 kg.

In today’s trading session, Jeera September delivery fell nearly 4% or Rs. 611 to the session low of Rs. 14,872 and currently hovering at Rs. 14,985, down Rs. 498 or 3.22% over the last close. The open interest dipped 0.53% to 17,856 tonnes.

The spot Jeera price traded in the range of Rs. 13,500-13,800 per quintal at Unjha Mandi, down by Rs. 200 per 100 kg. Best quality traded steady in the range of Rs. 15,000-16,000 per quintal. The total fresh arrivals surged to 4,000 bags from 6,000 bags last day (demand was reported around 4,000 bags against 6,500 bags last day).

The Jeera exports slumped by 46% to 5,750 tonnes while value dipped by 36% to Rs.7,560 lakh during April to June 2011. Forex revenue from exports of spices and spice products from India during April-June 2011 registered a rise of 21 % while the tonnage declined by 26 %.


Do’s & Don’ts in Commodity Futures Market

By NCDEX India ~ July 26th, 2011. Filed under: Agricultural Products, Commodities, Exchange Prices, National Commodity and Derivative Exchange, NCDEX, Trading, Wheat Futures.

Do not fall prey to market rumors.

Go through all Rules, Bye Laws, Regulations Circulars and directives issued by NCDEX.

Do not trade on any product without knowing the risk and rewards associated with it.

Study historical and seasonal price movements of the commodity that you wish to deal in the futures market.

Do not deal based on Bull/Bear run of commodity markets sentiments.

Ensure that the Contract Note contains all the relevant information such as Member Registration Number, Order No., Order Date, Order time, Trade No., Trade rate, Quantity, Arbitration Clause.

Do not deal with unregistered intermediaries even if their charges are lower and/or margins are lesser.

For more Do’s and Don’ts in the NCDEX Commodity Futures Market please visit the NCDEX website.

Traders may not benefit from Wheat Export

By NCDEX India ~ July 18th, 2011. Filed under: Agricultural Products, Futures, National Commodity and Derivative Exchange, NCDEX, NCDEX Commodities Trading List, Trading, Wheat Futures.

AHMEDABAD: The government move to lift the fouryear-old ban on wheat export is unlikely to make a major impact on domestic prices as Indian prices are not at parity with global prices. Traders feel that the best parity in export of wheat will come for Rajkot traders where the prices are ruling at Rs 1,100 to Rs 1,110 at mill delivery.

“Traders in Kota and Indore are also expected to benefit as distance from these markets to Kandla port will be less. However, for traders in Uttar Pradesh’s wheat growing belt of Bareilly and Shahjahanpur, it will not be at parity owing to increased wheat prices at Rs 1,200 to Rs 1,220 per quintal excluding transportation cost,” said a Mumbaibased market trader who added that major destinations would include South Africa , Dubai and SAARC countries.

Narendra Thakkar, a grain trader from Nadiad in central Gujarat, said the prices were stable and were unlikely to increase as there was a bumper stock in the state. On the NCDEX, spot price of wheat in Rajkot was firm at Rs 1,124.15 a quintal, in Delhi it was Rs 1,193 and in Karnal it was Rs 1,333.45. On Saturday at the NCDEX, wheat future for delivery in July strengthened by 1.34% to Rs 1,183 per quintal with an open interest of 13,980 lots.

The wheat new for delivery in August weakened by 1.31% to Rs 1,208 per quintal with an open interest of 34,560 lots. India imposed the ban on wheat exports in 2007 to stabilise domestic prices and contain food inflation in the country. In 2010 wheat production touched 82.4 million tonne and rice production at 95 million tonne.

As on June 1, the country’s stock of wheat and rice stood at 65.4 million tonne and 37.8m million tonne respectively, according to the Ministry of Consumer Affairs, Food and Public Distribution. Domestic prices are stable and there is no excitement of export as international prices are weak, said Narendra Gupta, owner of LNG Agri Commodity in Delhi’s Naya Bazar market.

Jeera (Cumin) Creeps Higher on Strong Demand

By NCDEX India ~ July 5th, 2011. Filed under: Agricultural Products, Commodities, Cumin, Futures, Jeera, National Commodity and Derivative Exchange, NCDEX, NCDEX Commodities Trading List, Trading.

MUMBAI (Commodity Online): Jeera futures gained for the third consecutive trading session Lead by strong demand against the reduced arrivals. Arrivals in the domestic market have started to decline gradually due to ending season.

As per market sources, the total production of jeera in the current season is likely to be around 21 lakh bags (1 bag = 60 kgs) against 28 lakh bags reported last year. This was mainly due to sharp decline in sowing acreage of jeera crop in Gujarat.

The NCDEX Jeera for the July delivery surged by further by Rs 113 or 0.77% to the session high of Rs 14740 per 100 kg. The counter is currently trading higher at Rs 14820 and the open interest dipped to 12453 tonnes. The contract surged by Rs 600 per 100 kg in the last three trading session.

The spot market reported 10,000 bags arrivals while the demand is estimated for nearly 18,000 bags today. The prices quoted in the range of Rs 13200-13750 and the best quality quoted at Rs 15500 per 100 kg,

As per the latest release from the Spices Board of India, during April-March 2010-11, Jeera exports dropped by 35% to 49,250 tonnes.


Pepper settles down on profit taking

By NCDEX India ~ June 15th, 2011. Filed under: Agricultural Products, NCDEX, Pepper.

Pepper futures for the June contract on NCDEX extended the decline with futures dropping by Rs 900 or around 3% per 100 kg to Rs 29401 in the afternoon trading session. The open interest dipped by 19.56% to 5208 tonnes and the volume traded as of now stood at 4,217 tonnes.

Weak export demand, stable spot market and strong supplies from Vietnam added bearish cues in the Indian pepper market. Ample supply from Vietnam is there in the global markets while harvesting just started in Indonesia.

Vietnam Pepper Association (VPA) reported reaching total production output of 100,000-110,000 tonnes of pepper in 2010-2011 crops, equivalent to that of 2010.

The Information and Statistics Centre under Ministry of Agriculture and Rural Development, Vietnam released the targeted pepper export turnover this year of over $766 million, increasing by 1.48 times against the prediction in April thanks to surging trend in export volume and export price in recent times.

As per the latest updates from the General Statistics Office of Vietnam, Vietnam exported nearly 56,000 tonnes of pepper valued $297 million during the period of January to May 2011. Exports are down by 5.60% in volume terms meanwhile in value terms surged by 61.20% over the same period last year.

Vietnam exported nearly 15,000 tonnes of pepper with value of 87 million USD in the month of May 2011.

According to the Spices Board, the total quantity of 18,850 tonnes of pepper valued at Rs 383.19 crore was exported from India during the period April to March 2010-2011 as against 19,750 tonnes valued at Rs 313.93 crore last year, registering an increase of 22 per cent in value. The unit value of pepper has increased from Rs 158.95 per kg in 2009-10 to Rs 203.82 per kg 2010-11.


Potato Weak in NCDEX Futures

By NCDEX India ~ June 10th, 2011. Filed under: Commodities, Futures, India, National Commodity and Derivative Exchange, NCDEX, Potato, Trading.

Prices of sugar free potato were down in Delhi on steady to weak demand these days.

“Potato is expected to remain weak in short run as selling activity is running on less than regular demand in spot market. Technically selling is expected to continue in potato in futures also,” said Anil Patadia, commodity analyst with Commodity Online.

Potato June contract opened at Rs. 522.2 on MCX per quintal. It traded weak hitting lower limit of 4% during trading session on selling sentiments.

“One can sell Potato June contract near 500 for short term profit, while long term investors should wait till 450 for fresh buying,” Patadia added.

NCDEX Lowers Transaction Fee

By NCDEX India ~ May 31st, 2011. Filed under: Agricultural Products, Commodities, Exchange Prices, MCX, National Commodity and Derivative Exchange, NCDEX, Trading.

In an effort to boost trade volumes in non-agricultural commodities, the NCDEX has lowered transaction fee’s for members.  The NCDEX said that the new fee’s will take effect May 6, 2011, members would have to pay a transaction charge of Rs 2 per Rs 1,00,000 of turnover if their average daily business is within Rs 100 crore.  Members of NCDEX would have to pay Re 1 if their average daily business is between Rs 100 crore and Rs 200 crore. Members would have to pay 50 paise if their daily turnover exceeds Rs 200 crore.

Experts said the reduction in transaction fee for members trading at the NCDEX platform would encourage business volumes in non-agricultural items like bullion, crude oil and metals.

NCDEX has been trying to reduce transaction charges on its platform since the time its rival MCX had cut the fee in October, 2009.