Coonoor Tea Sales To Witness 11-Week Low Volume

Coonoor: A volume of 9.58 lakh kg has been catalogued for the sales of Coonoor Tea Trade Association (CTTA) taking place here this week. This is the lowest volume of the last 11 weeks. It is some 57,000 kg lower than the volume offered last week. Of the 9.58 lakh kg offered now, as much as 6.48 lakh kg belong to the leaf grades and only 3.10 lakh kg, dust grades. Again, as much as 8.80 lakh kg go to the CTC variety and only 0.78 lakh kg belong to orthodox variety.

Source : www.indian-commodity.com

Pepper Future Mkt Increases On Purchasing Interest

Kochi: Pepper futures market on Aug 30, improved after declining in recent days on some purchasing interest. All the contracts increased by over Rs 200 a quintal. Indonesia, where harvesting has begun, also decreased its prices to $3,250-3,350 a tonnes (f.o.b.), while Indian parity was also at this level but on c&f. Some good quantity of 400 GL reported to have been bought by Indian extractors from Indonesia. International market remained steady. September contract on NCDEX increased on Aug 30, by Rs 252 a quintal to Rs 11,819. The rise in other contracts was from Rs 192 to Rs 283 a quintal. On NMCE, September contract moved up by Rs 276 a quintal to Rs 11,760. The increase in other contracts except December and January was at Rs 87 to Rs 336 a quintal. December and January fell by Rs 178 and Rs 427 a quintal respectively. The total turnover on NCDEX fell by 152 tonnes to 17,292 tonnes.

Source : www.indian-commodity.com

Rubber Market Gains

Kottayam: The rubber market improved smartly on Aug 30. RSS 4 increased further to Rs 87.50 and Rs 88 a kg respectively at Kottayam and Kochi from Rs 86 a kg as covering groups and purchase agents turned aggressive in the main marketing centres. The rubber futures followed suite recording handsome gains in all contracts on early trading but lost the benefits partially towards close probably on profit booking at higher levels. The September contract for RSS 4 finished at Rs. 88.25 against Rs 87 a kg on MCX. The September contract for the grade increased to Rs 89.11 (87.82), October to Rs 83.55 (82.75), November to Rs 82.01 (80.98) and December to Rs 81.27 (80.80) per kg on NMCE. The volumes were better at 3,453 (2,363) tonnes. Spot prices were (Rs/kg): RSS-4: 87.50 (86); RSS-5: 85 (83.50); ungraded: 82.50 (81); ISNR 20: 84.50 (83) and latex 60 per cent: 61.05 (61.05).

Source : www.indian-commodity.com

Commodity Exchanges On Subprime Alert

The subprime virus is spilling over to commodities. Prices of metals like copper, zinc and lead are on the slide and volatility is creeping into commodity trading.But the commodity exchanges are not ready to take any chances. NCDEX has asked its 900-odd members to maintain their minimum net worth of Rs 50 lakh. Members falling short have been given time till the month-end to shore up their net worth.

NCDEX says that compliance rate among members is 96-97 per cent. MCX is also closely monitoring the net worth criteria for members.

"Members need to have the financial resilience to absorb shock from their clients. So what is important is not just to have the net worth at the point of entry but to maintain it throughout. So if it falls, they will have to infuse fresh capital or they will have to give up membership," said PH Ravikumar, MD & CEO, NCDEX.

While NCDEX is not in any rush to sign up new members, the commodities exchange is scouting for new partners for its power exchange that it is building with NTPC and NHPC.

NCDEX-NTPC-NHPC is trying to rope in Power Grid and Power Finance Corporation as partners and total investments for the power exchange is being worked out.

"We don't want financial partners, we want strategic partners and all of us are open to the idea," said Ravikumar.

Commodities exchanges realize that in volatile times like these it is even more important that members don't falter on net worth. This is one the critical ways of ensuring that commodity trading do not face hiccups especially when the going gets difficult.

Source : www.indian-commodity.com

Rubber Witnesses Up Trend

Kottayam: The rubber prices firmed up on Aug 29. In the physical front, sheet rubber improved to Rs 86 from Rs 85 a kg on the previous weekend. On NMCE, the September contract increased to Rs 87.89 (85.56), October to Rs 82.61 (80.92), November to Rs 80.90 (80.05) and December to Rs 80.80 (79.90) per kg for RSS 4. The September contract was better at Rs 87.11 against Rs 86.39 a kg on MCX. The open interest stood at 4,791 (4,874) lots with 2,350 (2,508) lots in September, 1,625 (1,616) lots in October, 618 (601) lots in November and 198 (149) lots in December on NMCE. The volumes totalled 2,363 (760) lots. RSS 3 fell at its September futures to 240.5 Yen (Rs 86.60) a kg from 245.4 Yen a kg at TOCOM. Spot prices per kg were: RSS-4: 86 (85); RSS-5: 83.50 (83); ungraded: 81 (80); ISNR 20: 83 (82.50) and latex 60 per cent: 61.05 (60).

Source : www.indian-commodity.com

WB Tea Delegation Asks Reopening Of Estates

Kolkata: A delegation of tea garden owners led by the President of the Tea Association of India, Mr Shashank Prashad, met the West Bengal Minister for Commerce & Industry, Mr Nirupam Sen, on Aug 28 and drew his attention to various problems facing the gardens located in the Dooars and Terai regions in the northern part of the State. The bane of these tea gardens was low productivity of both land and labour. Poor price realisation owing to perceived inferior quality of tea produced by them too had been a matter of concern. In a memorandum to the Minister, the delegation made several suggestions which included the granting of special additional quota of foodgrains at subsidised rates covering the entire requirement of the gardens; review of the issue of labour productivity in the context of 1969 agreement as suggested by the Tea Committee. The waiver of arrear interest on leaf cess liabilities; the supply of electricity to the gardens at a concessional rate allowing tea gardens to go for diversification into non-tea areas of their choice; and extension of North East Industrial & Investment Promotion policy to North Bengal.

Source : www.indian-commodity.com

STC Wheat Tender Gets Eight Bids

New Delhi: The State Trading Corporation of India's (STC) August 23 tender to import an unspecified quantity of wheat on Government account has drew in bids for 5.30 lakh tonnes (lt) from eight players, who have quoted rates between $385 and $434 a tonne, cost and freight (c&f). This is way above the weighted average price of $325.59 a tonne at which STC had contracted 5.11 lt imports in its previous June 26 tender and the $205.31 per tonne for the 55 lt imported in the whole of 2006-07. The latest tender, which opened here on Aug 29, witnessed STC receive bids from the Swiss commodity giant, Glencore International AG for three lt, the US-based Cargill Inc (80,000 tonnes), Alfred C. The lowest bids were from Glencore, which offered to supply a panamax load (60,000-70,000) at Mundra port for $385 a tonne in October. Toepfer and Cargill's offers were for $390 and $400 a tonne, respectively - again for delivery at Mundra. The current price bids are valid till September 3, by which time the STC and Food Ministry would take a view on whether and how much to purchase at what rate.

Source : www.indian-commodity.com

Guar Seed Production Likely To Lower This Year

Chennai: Guar seed output this year is likely to be lower at around 70 lakh bags of 100 kg. The crop could gain about 5 lakh bags if the growing regions in Rajasthan get adequate rainfall this week but still supply is hoped to tigh. The rain-fed regions that grow guar need urgent rains. Guar or cluster beans is a legume crop that grows best in the semi-arid regions in the country. In India, guar is grown primarily in Rajasthan. It is also grown in Haryana, Punjab, Gujarat and Madhya Pradesh.

Guar gum is used as a thickening agent and additives in foods products such as instant soups, sauces, processed meat products, baked goods, milk and cheese products, yoghurt and ice-creams. Indian exports guar gum to Europe, the US, Australia and China. Rainfall, which is lower by nine per cent in Rajasthan this year, has affected guar sowing. Guar crop and quality could be hit because of inadequate rains this year. There could be a shortfall of about four lakh bags in Gujarat, where the output could be 7-8 lakh bags. In Rajasthan, the crop could be 15 lakh bags each in rain-fed and semi-arid zones.

Source : www.indian-commodity.com

NICR Inked MoU With IMT

Mumbai: NCDEX Institute of Commodity Markets and Research (NICR), a subsidiary of commodity exchange NCDEX, inked a memorandum of understanding with Institute of Management Technology (IMT), Ghaziabad on Aug 28, to collaborate in knowledge creation and awareness in commodity markets and commodity derivatives. The partnership will result in promotion of research on commodity derivatives and benefits arising out of futures trading. NCDEX, said, commodity trading on the exchanges had seen substantial growth and there was huge requirement of skilled people. IMT will soon introduce courses on commodity derivatives and futures trading as there were growing interest among management students. The institutes will consider establishing a dedicated centre for research in the commodity markets and derivatives to be located at IMT

Source : www.indian-commodity.com

Pepper Future Sees Down Trend

Kochi: Pepper futures market continued its sharp decline on Aug 28, on alleged market manipulations by bear-cartels. The futures prices have declined by Rs 7 to Rs 10 a kg below the spot and it gives the impression that the price risk management and the price discovery system seems to have gone haywire. Indonesia has brought down the prices of its L Asta to $3,150 a tonne (f.o.b.) and Brazil was offering B Asta at $3,250-$3,300 a tonne (f.o.b). Indian parity on Aug 28, was $3,250-$3,300 a tonne (c&f). September contract, on NCDEX, on Aug 28, declined by Rs 202 a quintal to close at Rs 11,680 from Rs 11,882 on Aug 27. Spot market remained closed on account of Sree Narayana Guru Jayanti. Spot prices at last closing were at Rs 12,100 (un-garbled) and Rs 12,700 (MG 1).

Source : www.indian-commodity.com

Pepper Market Decline On Pessimistic Activities

Kochi: The pepper futures market during the week saw sharp fall in prices due to bearish activities and the quantity restrictions on nearby month position, which has hampered the exporters from covering. In fact, the exporters wanted to purchase at the current rates as there are overseas purchasers at the present rate but they could not do so due to the quantity restrictions. According to international market reports, influenced by the downward trend in India, Brazil and Indonesia have showed aggressiveness in selling at lower rates. Surprisingly, the decline in black pepper prices has not so far reflected on the white pepper prices, which continues to rule firm.
On NMCE the contracts declined by Rs 600 to Rs 932 a quintal. The closing price on Saturday for September contract was Rs 12,101 a quintal. The total turnover on NCDEX during the week went up by 17,206 tonnes to 1,26,902 tonnes while on NMCE it increased by 4,217 tonnes to 11,622 tonnes. The total open interest also during the week increased 143 tonnes on NCDEX to 22,718 tonnes while on NMCE it increased by 363 tonnes to 2,370 tonnes. Spot prices in tandem with the futures market trend declined by Rs 500 a quintal during the week to Rs 12,200 (un-garbled) and Rs 12,800 (MG 1).


Source : www.indian-commodity.com

Kochi Tea Auction Witnesses Weak Trend

Kochi: As the sale continued, prices of most tea varieties eased at the Kochi tea auction, which had 12.2 lakh kg of dust tea on offer. Best CTC varieties ended weak, good liquoring varieties were barely steady and poorer CTC witnessed less demand. Best CTC varieties fetched Rs 66-74, medium CTC ranged at Rs 54-64 and below medium was quoted at Rs 30-37. High grown bolder broken and whole leaf grades remained steady. Best CTC prices eased by Rs 1-2. Best Nilgiri varieties quoted Rs 80-95, medium orthodox ranged at Rs 44-66 and plain orthodox was at Rs 40-42. Best CTC leaf commanded Rs 48-54 and medium CTC leaf Rs 42-46. Kodanad BOPD fetched the top price in the dust segment at Rs 102 followed by Parkside BOPD at Rs 90, Mayura RD at Rs 83 and Pasuparai SFD at Rs 76.


Source : www.indian-commodity.com

Maharashtra Mills Mull 20Lt Sugar Exports

New Delhi: Mills in Maharashtra plan to export up to 15 lakh tonnes (lt) of white sugar and 7-9 lt of raw sugar during the resulting 2007-08 crushing season (October-September). Inclusive of another 2.5 lt against outstanding contracts, we will end up doing over 12 lt. With the mills hoped to crush 844 lt of cane and produce about 97 lt of sugar in the new season against 798 lt and 90.92 lt in 2006-07. Maharashtra mills have already joined hands for supplying 3 lt of raw sugar to the Indian Sugar Exim Corporation (ISEC) and Cargill. The factories that will begin crushing from October 1 will straightaway launch into production of raw sugar for exports.

Source : www.indian-commodity.com

Darmona Tea Reports New Record At Coonoor Sales

Coonoor: Darmona Estate has made a new record at the auctions of the Coonoor Tea Trade Association (CTTA) when its RD grade sold by J. Thomas and Co P Ltd, was purchased by Sree Abirami Enterprises for Rs 114 a kg. This was the highest price fetched by any grade of CTC teas so far in 2007. For that matter, only Darmona Estate had been fetching over Rs 100 a kg and the highest price before this was Rs 110 for its RD grade sold by J. Thomas on May 28. At this week's sale, among the CTC teas from bought-leaf factories, Highfield Estate Special, Vigneshwar Estate and Hittakkal Estate got Rs 83 a kg.
Darmona's price was higher than most offers of even the orthodox teas from corporate sector. Prices increased for quality offers, but declined for others. In all, 10.15 lakh kg were offered. Orthodox leaf suffered from sluggish demand. Among the corporate purchasers, Hindustan Unilever Ltd was active on medium sorts. Pakistan purchased well made fannings and blacker teas. Exporters to the CIS actively bought bolder brokens. The bottom price continued to be Rs 31 a kg. A good volume was sold for Rs 31-34. Quotations held by the brokers indicated bids ranging from Rs 31 to 33 for the plain dusts and Rs 65-83 for the brighter liquoring teas.

Source : www.indian-commodity.com

Kolkata Tea Auction Sees Good Demand For Orthodox, CTCs

Kolkata: Last week, CTC teas at the North Indian auction centres met with good demand. Prices followed quality for good Assam and Dooars varieties, with plainer sorts holding firm. The exporters operated for larger brokens. The highest price was Rs 128 per kg. Orthodox varieties continued to see a good demand at fully firm to occasionally dearer levels. The highest price recorded was Rs 510 per kg. Darjeeling teas were well absorbed irregularly around last, with support from traditional exporters, local dealers and the packeteers. Normalised conditions prevailed in Assam while in North Bengal, crops were still slow in recovering. Kenyan markets in Mombasa witnessed improved general demand with several categories appreciating in value, following active purchasing from Pakistan, Egypt and the CIS countries. In Colombo, Sri Lankan teas witnessed a slight easing in prices following the onset of the month of Ramadan.

Source : www.indian-commodity.com

Rubber Witnesses Down Trend

Kottayam: Physical rubber fell on Aug 24. Sheet rubber retreated to Rs 85 a kg from Rs 86 both at Kottayam and Kochi. The market was almost in a holiday mood with only a couple of days more to Onam and it suffered in all grades including latex on purchasers resistance amidst selling from traders. The rubber futures declined in tandem with the global trend but recovered partially following buying at lower levels on late trading. RSS 4 weakened at its September futures to Rs 84.27 from Rs 84.46 a kg on MCX. The September contract fell to Rs 84.75 (85.03), October to Rs 80.26 (80.36), November to Rs 79.49 (79.65) and December contract to Rs 79.10 (79.40) per kg for RSS 4.

Source : www.indian-commodity.com

Pepper Futures Market Regains

Kochi: Pepper futures market, after declining continuously in recent days, bounced back on Aug 24, on rumours that the FMC would relax the nearby month position. Meanwhile, international players based in the European Union were spreading rumours that the markets in Brazil and Vietnam crashed and the prices would fall further. Vietnam was offering 500 GL at $3,170 a tonne (f.o.b.), while 550 GL at $3,330 a tonne (f.o.b). Brazil was quoting B Asta at $3,250-$3,300 a tonne (f.o.b.), while B 1 at $3,200 a tonne (f.o.b). September contract on NCDEX, on Aug 24, fell by Rs 172 a quintal to Rs 12,410 from Rs 12,238 on Aug 23. The increase in other contracts hope November was from Rs 137 to Rs 256 a quintal. Total turnover on NCDEX increased by 2,653 tonnes to 25,126 tonnes. On NMCE, total turnover declined by 47 tonnes to 2,040 tonnes.

Source : www.indian-commodity.com

Rubber Witnesses Up Trend

Kottayam: Spot rubber was optimistic on Aug 23. RSS 4 closed at Rs 86 a kg against Rs 85 both at Kottayam and Kochi. In the international scene, the September futures for RSS 3 finished better at 237.7 Yen (Rs 84) a kg from 234.4 Yen a kg at TOCOM. But its spot declined by 75 paise to Rs 84.76 from Rs 85.51 a kg at Bangkok. The September contract finished at Rs 85.05 (84.12), October at Rs 80.25 (80), November at Rs 79.50 (79.51) and December at Rs 79.20 (79.13) per kg for RSS 4. Spot prices were (Rs/kg): RSS-4: 86 (85); RSS-5: 83.50 (82.50); ungraded: 81 (80); ISNR 20: 83 (82.50) and latex 60 pr cent: 60.50 (60.50).

STC Floats New Wheat Import Tender

New Delhi: The State Trading Corporation of India (STC) on Aug 23, floated a tender to import an unspecified quantity of wheat on Government account to be delivered between October and December. The move comes at a time when global prices have soared to all-time-highs, raising the possibility of the Centre shelling out well over $400 a tonne in the event of imports being contracted at current rates. The parcel size has been set at 25,000-75,000 tonnes for Mundra and at 25,000-50,000 tonnes for the other seven designated ports of Kakinada, Kandla, Mumbai, Chennai, Visakhapatnam, Tuticorin and Kochi. The tender closes on August 29, with the offers being valid till September 9.

The timing of the latest tender is significant, considering that the benchmark December wheat futures contract at the Chicago Board of Trade (CBOT) is currently quoting at a record $7.43 a bushel or $273 a tonne (one bushel equals 27.216 kg). To put these prices in perspective, it may be noted that when STC's last import tender was issued on June 26, CBOT rates were ruling at $6 a bushel ($220 a tonne), while Russian wheat was being offered for $235 a tonne (f.o.b.).

Vanilla Growers To Hold Dharna On Aug 29

Kochi: The vanilla growers in Kerala will take out a march to the Spices Board headquarters and hold a dharna before it on August 29 in protest against the policies of the Central Government and the board. The policies of the Government and the board were against the existence of the company, which was created on the directions of the board following the sharp decline in the prices of vanilla. The Government had opposed to either stop or limit imports of synthetic vanillin and this compelled growers to come out to file their protest.

Restrictions On Open Interest Positions Affecting Pepper Exports

Kochi: Curbs imposed by the Forward Markets Commission on open interest positions for members of futures exchanges and their clients for nearby pepper contracts have adversely hitting pepper exports, besides giving wrong signal about the pepper market prices in India. However, since large volumes of stocks are lying at the exchange warehouses, exporters are unable to take delivery and it has resulted in stocks at the exchanges coming down. The brokers limits are now 500 tonnes and the individual participants limits at 170 tonnes and that is not serving any purpose since brokers limits are getting full before the clients position reaches 170 tonnes. In the past, exporters used to take delivery of the larger quantities they were hedging.

Due to non-availability of the spot and future delivery and nearby month being traded below market rate by Rs 5 to Rs 7 a kg, exporters are hedging only because of the discounts available and also the quantities at the exchanges. The decision of the FMC is actually restricting the genuine operators (investors) from exiting out of the market and prohibiting the exporters from covering their export sales in the futures market. Of late pepper futures trading were thrown open to public and the franchisees of the brokers, who were conducting futures trading through electronic system, have started serving as bucket shops.

Pepper Future Witnesses Down Trend

Kochi: Pepper futures market saw sharp decline on Aug 23, on bearish activities. The overseas purchasers are scared as a result of the continuous fall in the prices allegedly created by market manipulators. Indian parity has fallen to $3,400 a tonne (c&f) and still are exporters ready to sell at $3,350 a tonne (c&f). While Brazil has reduced its prices sharply, Vietnam remains silent. Brazil was offering Asta grade at $3,300-$3,400 a tonne (fob) while B1 560 GL at $3,200-$3,300 a tonne. September contract on NCDEX on Aug 23, declined by Rs 420 a quintal to Rs 12,209. The fall in other contracts was from Rs 330 to Rs 455 a quintal. On NMCE September contract dropped by Rs 502 a quintal to Rs 12,045. Total turnover on NCDEX increased by 4,474 tonnes to 22,473 tonnes. Total open interest on NCDEX increased by 1,069 tonnes to 23,586 tonnes. On NMCE total open interest fell by 159 tonnes to 2,223 tonnes. September and October positions were at 570 tonnes and 1,507 tonnes respectively.

Cardamom E-Auction Unveiled

Kochi: The first ever e-auction in cardamom was officially unveiled at Bodinayakannur on Aug 23, by the Union Minister of State for Commerce, Mr Jairam Ramesh. Launching the new system, the Union Minister said it would result in more transparency in trading and the growers would be benefited. At the Cardamom Processing and Marketing Company (CPMC) auction at Kumily on Wednesday, prices declined by Rs 15- Rs 20 a kg from that of the previous auction, on selling pressure. Maximum price was at Rs 525 a kg and minimum at Rs 275 a kg. Average was Rs 410 a kg. 8 mm capsule with good colour fetched Rs 500 - 540 a kg. 7 mm -8mm was sold at Rs 450 - 500 while 7 mm at Rs 425 - Rs 450 a kg. Current bulk was fetching Rs 375 - Rs 400 a kg. Some of the auctioneers told that if the new system was successful, they would switch over to e-auction in a month's time.

A major change was being brought about in cardamom marketing with the aim to bring about increased benefits to farming community in terms of price and transparency in execution that would curtail the formation of cartels that have been the bane of the prevailing system. A proposal to replant cardamom in about 30,000 hectares in the next 5-7 years in Kerala, Tamil Ndu and Karnataka at an estimated cost of Rs 211 crore had been approved. Though 12,000 tonnes of cardamom was produced in the country, only 6 per cent was currently exported.

Coonoor Tea Auctions To Witness High Volume Offer

Coonoor: Sale no:34 at the Coonoor Tea Trade Association (CTTA) on Aug 23 and Aug 24 will witness a increase in quantity at 10.15 lakh kgs due to increase in fresh arrivals together with unsold tea from previous auctions. This is 17,000 kgs more than the offer last week. It is 41,000 kgs lower than the offer in the corresponding sale of last year. As much as 7.28 lakh kgs belong to the leaf grades, while 2.87 lakh kgs belong to the dust grades on offer. Again, as much as 9.44 lakh kgs belong to the CTC variety and only 0.71 lakh kgs, orthodox . In the dust grade, only 0.38 lakh kgs belong to the orthodox while 2.49 lakh kgs belong to the CTC variety.

AP Cabinet Approves Way For Sugar Cos Resturcture

Hyderabad: The Andhra Pradesh Cabinet has permitted the way for modernisation and expansion of seven cooperative sugar factories at an estimated cost of Rs 267 crore. The Cabinet, which met here on Aug 21, has decided to turn the Rs 79-crore loan given to five of the seven factories and the tax dues of the factories into equity. The move will help these factories turn their net worth positive, making them eligible for financial assistance from sugar development funds. The first phase of revamp would cover Chodavaram, Vijayarama Gajapathi, Thandava, Kovur, Sri Venkateswara, Chittoor and Anakapalle factories. Post expansion, the total capacity of these factories would go up to 18,900 tonnes crushed a day (TCD) from the present 13,450 TCD.nb

Aerobic Method To Grow Paddy Can Provide Benefits

Coimbatore: Growing paddy in aerobic or dry condition against the normal practice of growing it in flood condition is seen as one of the methods of cultivation that can take the pressure off on environment and at the same time, ensure better yield. The aerobic method of cultivation needs just 50 per cent of the water consumed by the paddy grown through conventional methods. Cultivation via the aerobic method also results in saving labour cost. Impacts of climate change with particular reference to agriculture organised under the aegis of the Tamil Nadu Agricultural University. Farmers should be encouraged to grow bio-diesel crops such jatropha so as to meet out their own petrol and diesel needs, which will also decrease the pressure on fossil fuel demands.

Rubber Witnesses Down Trend

Kottayam: Spot rubber fell on Aug 22. RSS 4 finished at Rs 85 a kg against Rs 86 a kg both at Kottayam and Kochi. The rubber futures fell sharply possibly on profit booking at higher levels breaking the initial daily downward limit of 2 per cent in all months on late trading. The September contract for RSS 4 fell to Rs 83.73 a kg from Rs 85.44 a kg on MCX. The September contract surrendered to Rs 84 (85.94), October to Rs 79.86 (82.25), November to Rs 79.43 (81.51) and December contract to Rs 79 (80.91) per kg. Spot prices were (Rs/kg): RSS-4: 85 (86); RSS-5: 82.50 (82.50); ungraded: 80 (80.50); ISNR 20: 82.50 (82.50) and latex 60 per cent: 60.50 (60.50).

India's Summer-Sown Oilseed Output Seen Higher

Higher acreage and good rains will boost India's summer-sown oilseed output, the country's farm secretary said on Wednesday, signalling lower edible oil imports in the new season beginning October.India produced 13.93 million tonnes of summer-sown oilseeds in 2006/07, down 17 percent from the year before, according to industry estimates.
"From the current sowing figures, we feel that oilseed production will be higher in the season due to the good weather conditions and government efforts to boost production," P.K. Mishra told reporters.

According to the latest farm ministry figures, farmers have sown oilseeds on 16.47 million hectares (40.70 million acres) in the season against 15.23 million ha last year.

Oilseed output is crucial for India, which imports nearly half of its annual needs of 11 million tonnes, buying palm oils from Malaysia and Indonesia, and soy oils from Brazil and Argentina.

A fall in domestic output and a sharp rise in palm oil prices as more is used to produce biodiesel prompted India to cut import duties to help control inflation.

Last month, it cut duty on crude palm oil to 45 percent, while that on soy group of oils was trimmed to 40 percent. He said overall planting of crops in the monsoon season has been progressing well and production would be healthy despite fierce floods in eastern states.

Pepper Future Sees Weak Trend

Kochi: Prices of pepper futures, after seeing high volatility during the day, fell for all contracts on Aug 22. Exporters were not offering as they were said to be unable to cover even though stocks were available at low prices on the exchanges, because of the quantitative restrictions. In the global market buyers are waiting and watching, but with interest to cover at bid prices. Brazil and Indonesia said to have reduced their pepper prices. Indian parity was at $3,475-3,500 a tonne (c&f), but still remained competitive. Indonesia was offering L Asta at $3,400 a tonne (f.o.b.). Vietnam was not quoting for V Asta. However, it was quoting 500 GL at $3,200 (f.o.b.). The September contract on the NCDEX fell further on Aug 22, by Rs 82 a quintal to close at Rs 12,605. The decline in other contracts was Rs 50-75. The fall in other contracts was Rs 41-276. The total turnover on the NCDEX declined by 5,274 tonnes to 17,999 tonnes. The September turnover fell by 29 per cent and the October contract by 63 per cent. On the NMCE, turnover fell by 246 tonnes to 1,991 tonnes. Total open interest on the NCDEX dropped by 570 tonnes to 22,517 tonnes.

Cardamom E-Auction Unveil On Aug 23

New Delhi: A new initiative of the Spices Board to ensure clearness in cardamom trading in the country for the benefit of small growers via the electronic auction (e-auction) system will be unveiled at Bodinayakanur in Tamil Nadu on August 23. The Minister of State for Commerce, Mr Jairam Ramesh, will unveil the programme at Bodinayakanur as it accounts for 80 per cent of the traders in this commodity and 21 per cent of the total cardamom auctioned. Devised with the support of the Tata Consultancy Services, Bangalore in a bid to promote healthy competition for buys, the Spices Board has proposed the introduction of e-auction in cardamom to revamp the extant manual operations at par with modern technologies. The board is planning to establish common cleaning / grading / packing facilities in association with auctioneers which would help the traders/bidders to sell the material bought in the auction to the purchasers without further cleaning/ grading, thereby save time and costs.

Cardamom is the mainstay crop for many thousands of farmers in Kerala (75 per cent), Karnataka (15 per cent) and Tamil Nadu (10 per cent), spread over the Western Ghats. The volume of business in the auction centres in 2006-07 was 7,939 tonnes and the average price realised at the auction centres is Rs 313.02 per kg last year. Kerala accounts for the maximum quantity of cardamom auctioned, followed by Tamil Nadu, Karnataka and Maharashtra. In 2006-07, total production of cardamom (small) was 11,535 tonnes of which 7,939 tonne was auctioned. Out the estimated 40,500 number of farmers involved in the production of cardamom, nearly 27,000 sell their produce via the auction system. Export of cardamom last fiscal was 650 tonnes.

Cotton Corpn Witnesses More Consumption

Coimbatore: Cotton Corporation of India (CCI), which is expecting the spinning sector to recover the lost ground by the end of the third quarter, hopes higher cotton consumption by the mills, more than last year. The net mill consumption is hoped to increase to 265 lakh bales in the coming season from the current 240 lakh bales. Bt cotton acreage this year pegged to be above 60 per cent, the yield will be higher giving volume-led pricing for farmers who are also hoped to gain more on quality of cotton produced by them. The higher cotton production will support the spinners in the form of stable prices. The cotton yarn market currently witnessing a slackened demand will revive beyond September.

Bt Seed Mkt To Touch Rs 1,000 Cr

New Delhi: In 2006, an anticipated 38 lakh hectares (lh) were covered under Bt cotton - out of the country's total cotton area of 91.30 lh, comprising some 63 lh under hybrids and the rest under various desi and American varieties. According to the Union Agriculture Ministry, cotton acreage this year has reached 87.45 lh as on August 17, of which Bt hybrids account for 53.32 lh. At 2.47 acres to a hectare, 55 lh translates into almost 136 lakh acres. Since farmers plant one packet for every acre and assuming an average rate of Rs 750, the size of the domestic Bt seed market will be roughly Rs 1,020 crore.

Rubber Witnesses Uptrend

Kottayam: The physical rubber prices increased on Aug 21. The market gained in tune with the overall mood in domestic and international futures. Sheet rubber increased to Rs 86 a kg from 84 a kg at Kottayam and Kochi. The rubber futures was strong in leading commodity exchanges as some of its monthly contracts broke the initial daily upward limit of 2 per cent followed by fresh buying and short covering. The near month September contract for RSS 4 increased sharply to Rs 85.77 from Rs 83.56 a kg on MCX. The September contract for the grade flared up to Rs 85.91 (83.62), October to Rs 82.06 (81.18), November to Rs 81.70 (80.22) and December contract to Rs 81.30 (79.22) per kg on NMCE. RSS 3 improved at its September futures to 237.3 Yen (Rs 85.50) a kg from 235 Yen a kg at TOCOM. Spot prices were (Rs/kg): RSS-4: 86 (84); RSS-5: 82.50 (81); ungraded: 80.50 (79); ISNR 20: 82.50 (81.25) and latex 60 per cent: 60.50 (60).

Global Pepper Meet To Held In Kuala Lumpur

Kochi: The 35th International Pepper Community Session and Global Pepper Conference will be conducted during October 29-November 2 in Kuala Lumpur. Officials and trade representatives from pepper and spice producing countries including Brazil, India, Indonesia, Malaysia, Sri Lanka, Vietnam, China etc as well as trade representatives from the importing countries and representatives from international agencies will participate in the conference. The meetings will offer the delegates a unique opportunity to maintain existing alliances and develop new contacts in the world pepper and spice trade.

Sugar Futures See Long Liquidation

Mumbai: Sugar futures saw long liquidation in the commodity futures market on account of contract expiry. August contract on National Commodity and Derivative Exchange of India closed at Rs 1,282 per quintal down from the previous close of Rs 1,308 per quintal. The edible oil complex remained pessimistic with Soya Indore market remaining down and the Malaysian Palm oil market remaining weak on slow demand. The soya oil prices were down at Rs 484 per 10 kg from the previous Rs 487.10 per 10 kg. Palm oil in the local market was quoted at Rs 450 per 10 kg down from Rs 452 per 10 kgs on the previous day.

Rubber Future Sees Moderate Gain

Kottayam: Spot rubber made a smart recovery on Aug 20 and even the domestic futures followed the trend recording moderate gains in all contracts. Sheet rubber RSS 4 closed at Rs 84 a kg against Rs 82 and Rs 81.50 a kg respectively at Kottayam and Kochi. A positive closing in global markets extended further support to the market mood. On NMCE, the September contract increased to Rs 83.63 (82.36), October to Rs 81.02 (80.48), November to Rs 80.25 (79.81) and December contract to Rs. 79.11 (78.68) per kg for RSS 4. The September futures for RSS 3 firmed up to 235 Yen (Rs 83.76) a kg from 232.9 Yen a kg at TOCOM. Spot prices were (Rs/kg): RSS-4: 84 (82); RSS-5: 81 (79); ungraded: 79 (75.50); ISNR 20: 81.25 (79) and latex 60 per cent: 60 (58.95).

Pepper Future Witnesses Volatility

Kochi: Pepper futures saw high volatility on Aug 20, and nearby contracts moved up at the day's closing. Strengthening of rupee against dollar has pushed the Indian parity upward to $3,600-3,650 a tonne (c&f). Vietnam was offering FAQ 500 GL at $3,170 and 550 GL at $3,300 a tonne (f.o.b.), while V Asta at $3,580 a tonne (f.o.b.). August contract on NCDEX increased on Aug 20, by Rs 102 a quintal to Rs 13,050. September and October went up by Rs 50 and Rs 6 respectively a quintal, while October, December, January and February declined by Rs 15, Rs 93, Rs 42 and Rs 77 a quintal. On NMCE September contract increased by Rs 109 a quintal to Rs 12,975. Other contracts except October increased by Rs 265, Rs 241 and Rs 35 a quintal respectively. Total turnover on NCDEX increased by 9,105 tonnes to 21,332 tonnes, while that for August, September and October went up by 7 per cent, 56 per cent and 34 per cent respectively.

Turmeric Price Sees Weak Trend

Chennai: Turmeric prices are likely to fall in the short term on concerns that demand may be dull and also due to ample stocks with traders. Spot prices are hoped to rule at the current level of Rs 2,100-2,150 a quintal. A note by Kotak Commodity Services Ltd, turmeric prices could test Rs 2,080 levels despite festival demand from stockists and exporters. On the upper side, turmeric could see resistance at Rs 2,152 and beyond that at Rs 2,203. The week started with negative tone and finished lower. Downward trend and declined open interest at the fag end of the week point to long liquidation. Turmeric production this season could be 42-45 lakh bags compared with 51 lakh bags last year. In the spot market, there is possibility for the prices to rule stable.

Quality Teas On High Demand At Coonoor

Coonoor: Quality teas fetched higher prices while the plainer sorts have lost at Sale No: 33 of the auctions of the Coonoor Tea Trade Association (CTTA) here with the buyers looking for the quality teas among the low volume on offer. Exporters to Egypt actively purchased smaller brokens and fannings. The buyers for Pakistan continued to select blacker types for around Rs 35 a kg. CIS shippers picked up medium grades for around Rs 36 a kg. Most CTC dusts sold Rs 2-3 a kg more. Primary orthodox dusts were dearer. Among the CTC teas from bought-leaf sector, Darmona Estate continued to remain in the Rs 100 plus category. Homedale Estate got Rs 90. Highfield Estate Special and Vigneshwar Estate got Rs 80. Among the orthodox teas from corporate sector, Havukal got Rs 115 a kg, followed by Prammas at Rs 110.

Kochi Tea Auction Sees Mixed Trend

Kochi: Prices leant to ease at the Kochi tea sale, which had 10,82,000 kg of dust tea on offer. Prices of good CTC and liquoring varieties were dearer by Rs 1-3, medium CTC were barely firm and poorer CTC witnessed less demand. Prices of orthodox dust also tended to ease. Best CTC dust varieties commanded Rs 67-74, medium CTC fetched Rs 55-65 and below medium was at Rs 32-40. Good general demand shored up the price of highgrown bolder varieties by Rs 2-4, smaller brokens and fannings were firm to irregular following quality. Price of good CTC varieties eased by Rs 1-2, medium CTC was down by around a rupee and poorer CTC had less demand. Orthodox varieties saw good demand from exporters to CIS countries. Best Nilgiri varieties fetched Rs 82-102, medium orthodox ranged at Rs 44-66 and plain orthodox was not quoted. In the dust segment, both Mayura RD and Shanthi SFD brought the top price at Rs 83, followed by Shanthi SRD at Rs 79 and Kannavarai SFD at Rs 77. In the leaf segment, Havukal FOP fetched the top price at Rs 154 followed by Parkside FOP at Rs 142, Sutton GFOP at 135 and Sutton FP at Rs 131.

Pepper Futures Likely To Gain In Sept

Kochi: Though pepper futures increase on Aug 18, overall the prices witnessed a decline last week for all the contracts. The outstanding position on NCDEX for August stood at 2,313 tonnes and the contract would mature on Aug 20. September and October positions would have around 20,000 tonnes of which 11,242 tonnes are of September. Lower Indian parity coupled with weak rupee against dollar at the weekend has kept the Indian pepper competitive at $3,450 a tonne (c&f) even after the fell in other origins. In the international market, though harvesting has began in Indonesia and Brazil, the availability in the world market is estimated to remain below the demand.

During the week all the contracts on NCDEX decline and the fall was from Rs 23 to Rs 252 a quintal. On NMCE, the fall was from Rs 158 to Rs 322 a quintal. The total turnover on NCDEX declined by 35,582 tonnes to 1,09,696 tonnes, while on NMCE it dropped by 2,024 tonnes to 7,581 tonnes. The total open interest on NCDEX declined by 300 tonnes to 24,888 tonnes, while on NMCE it increased by 107 tonnes to 2,004 tonnes.

Rubber Price Gains On Demand

Kottayam: The physical rubber prices increased on Aug 18. RSS 4 closed at Rs 82 and Rs 81.50 a kg respectively at Kottayam and Kochi against Rs 80.75 and Rs 81 a kg on Aug 17. The rubber futures ended better probably on speculative purchasing and short covering in the weekend session. The September contract for the grade increased to Rs 82.50 (80.87), October to Rs 80.45 (79), November to Rs 79.79 (78.53) and December to Rs 78.74 (77.78) per kg on NMCE. Spot prices were (Rs/kg: RSS-4: 82 (80.75); RSS-5: 79 (77); ungraded: 75.50 (74.50); ISNR 20: 79 (77.50) and latex 60 per cent: 58.95 (58.95).

CTC Tea Sees Good Demand In Kolkata Auction

Kolkata: Last week, CTC teas at the North Indian tea auction centres were in good demand. Good support to liquoring teas came from western India, with good inquiries from other internal segments. The major blender and Tata Tea operated with fair strength. Orthodox varieties witnessed good demand at firm to occasionally dearer rates following active support from the CIS and West Asia and good inquiries from the major blender, North India and local dealers. The highest price was Rs 485 per kg. The highest price recorded was Rs 750 per kg.

Jeera Futures Fell On Lack Of Demand

Mumbai: Jeera futures for August delivery on NCDEX hit the lower circuit to reach 4.29 per cent at Rs 11,033 per quintal. The September contract declined 1.81 per cent to Rs 11,801 per quintal due to a lacklustre demand. Opening on a strong note, chilli futures declined 1.14 per cent to Rs 4,425 per quintal. Guarseed futures on NCDEX declined by Rs 13 per quintal to Rs 1,827. Opening at Rs 1,535 per quintal, it reached a low of Rs 1,525 and reached a high of Rs 1,545. Soya oil futures closed almost unchanged at Rs 486 per 10 kg, while chana futures remained range bound. Metal futures on MCX followed the global melt down.

Pepper Witnesses Downtrend

Kochi: Pepper futures continued its fall on Aug 17, also and touched the level below the spot prices on liquidation due to the quantitative restrictions on nearby positions. Brazil was offering Asta grade at $3,550 a tonne (f.o.b.), while 560 GL at $3,450 a tonne (f.o.b.). However, Vietnam prices said to have remained unaltered as the exporters and growers are anticipating that the prices will be better next week. Spot prices in tandem with the downward trend in the futures fell by Rs 100 a quintal on Aug 17, to close at Rs 12,700 (un-garbled) and Rs 13,300 (MG 1).

Rubbers Price Declines On Global Futures

Kottayam: The domestic rubber prices fell catalysed by weak global futures mainly TOCOM. The trendsetter lost heavily hitting the daily downward limit of 10 yen in all contracts following yen's sharp climb against dollar and falls in global stock and commodity markets. The September futures for RSS 3 nosedived to 232.9 Yen (Rs 85.11) a kg from 242.9 Yen a kg at TOCOM. On the physical front, RSS 4 fell to Rs 80.75 and Rs 81 a kg respectively at Kottayam and Kochi from Rs 83 a kg on Aug 16. In futures, the September contract fell to Rs 80.81 (82.36) a kg on MCX. On NMCE, the September contract weakened to Rs 80.87 (81.56), October to Rs 79 (79.54), November to Rs 78.60 (78.68) and December contract to Rs 78 (78.48) per kg for RSS 4. Spot rubber were (Rs/kg): RSS-4: 80.75 (83); RSS-5: 77 (78.50); ungraded: 74.50 (76); ISNR 20: 77.50 (78.75) and latex 60 per cent: 58.95 (58.95).

Rubber Falls Further

Kottayam: Spot rubber fell further on Aug 16. RSS 4 fell to Rs 83 from Rs 85 and Rs 86 a kg respectively at Kottayam and Kochi on Aug 14. The rubber futures resumed the downward journey on NMCE. The near month September contract weakened to Rs 81.52 (82.31), October to Rs 79.43 (80.01), and November to Rs 78.63 (79.03) a kg, while the December contract finished the debut performance at Rs 78.59 a kg against its opening at Rs 78 a kg for RSS 4. The September contract declined to Rs 82.30 from Rs 82.71 a kg on MCX. Spot prices were (Rs/kg): RSS-4: 83 (85); RSS-5: 78.50 (82); ungraded: 76 (79); ISNR 20: 78.75 (82) and latex 60 per cent: 58.95 (58.95).

Pepper Future Declines

Kochi: Pepper futures market continued to fall on pessimistic activities as similar sentiments are said to be prevailing in the other origins because of the harvesting in Indonesia and in certain regions of Brazil. Besides, some selling pressure on the futures has also contributed to the fall. In the world market purchasers are anticipating that the prices will fall further. Short-term selling pressure in Brazil is pointed out as the reason for the decrease in price there. August contract on NCDEX fell by Rs 103 a quintal on Thursday to Rs 13,011 from Rs 13,114. Spot prices in tandem with the futures market trend fell by Rs 100 a quintal to close at Rs 12,800 (un-garbled) and Rs 13,400 (MG 1) on Aug 16.

Cardamom Prices Improve On Poor Supply

Kochi: Cardamom prices maintained its upward swing on short supply during the week at sales held in Kerala and Tamil Nadu. The yield in non-irrigated plantations comprising of about 60 per cent of the total area in Kerala's Idukki distrct, is said to be less. At the auction on Aig 16, in Kumily, conducted by the Cardamom Processing and Marketing Company (CPMC) the arrivals stood at 28.5 tonnes and the entire quantity was sold. The prices increased by Rs 25 a kg from the previous week.

The arrivals will pick up only by mid-September besides, being less the prices are likely to move up given the expected good demand,. The maximum price on Aug 16, was Rs 585 a kg; 8 mm bold with good colour was fetching Rs 550 - 555 a kg, while 7 mm - 8 mm Rs 480–Rs 500 a kg; 6 mm and below was sold at Rs 370- 380 a kg. Current bulk was being sold at Rs 440-450 a kg.

Committee For Coir Sector Revamp

Thiruvananthapuram: The Kerala Government has established a commission to suggest ways for carrying out a comprehensive restructuring of the State's coir sector. The commission will study and suggest measures to help maintain the employment security and welfare of the coir workers. It will also redefine the functioning of the public sector undertakings in the sector and spell out ways to strengthen the coir cooperative societies. The commission had been entrusted with the task of identifying the specific areas of research required to develop the coir sector and suggesting ways to set up a link for transferring the research results to the industry.

The other terms of reference of the commission include enabling the coir industry to manufacture modern hybrid products using coir and other natural fibres and thereby making Alappuzha district an important global network of carpet industry; developing the domestic market for coir products; and ensuring the price stability of coir and coir products in tune with the production costs.

Coffee Exports To Touch Rs 2,000Cr By 2010

New Delhi: Country's earnings via coffee exports are likely to touch Rs 2,000 crore by 2010 from current level of Rs 1,650 crore with the export quantity more than five lakh tonnes from current level of 3.3 lakh tonnes, according to industry chamber, Assocham. More than 80 per cent of domestic coffee output would be exported by 2010. The export will also increase because of rising demands from countries such as Italy, Russian Federation and Germany. Even Belgium is emerging as one of the largest importers of Indian coffee. The output of coffee in Karnataka will grow by 10 times by 2010 as the State's farmers would be sowing coffee plants in larger acreage's and the same would be case in Kerala and Tamil Nadu.

Low volume Offer At Coonoor Tea Auctions

Coonoor: Following the low arrivals for the auctions of the Coonoor Tea Trade Association (CTTA), the catalogues for the sale no.33 to be held here on Aug 16 and Aug 17 add up to only 9.99 lakh kg - the lowest of the last nine weeks. Of the 9.99 lakh kg, as much as 7.35 lakh kg belong to the leaf grades, while 2.64 lakh kg belong to the dust grades. Again, as much as 9.22 lakh kg belong to the CTC variety and only 0.77 lakh kg, orthodox variety. In the dust grade, only 0.41 lakh kg belong to the orthodox variety and 2.23 lakh kg to the CTC variety. The low offer can increase the prices if the demand firms up. The purchasers chose quality invoices and some 25 per cent of the browner sorts remained unsold.

Chana Prices Increase On Festival Demand Hopes

Chennai: Chana (gram) prices have gained in spot and futures market on hopes demand will grew with the festival season round the corner. The rupee's decline, a drop in inventories and fears rains could wreak damage to crop of other pulses and lentils in Rajasthan and Gujarat have also buoyed chana. Spot chana prices are currently quoting between Rs 2,425 and Rs 2,525 a quintal in various markets, up Rs 50-150 since last week. In the futures market, chana contracts for August are quoting at Rs 2,266 a quintal, up from Rs 2,227 at the beginning of the month, while September contracts are ruling at Rs 2,351 against Rs 2,301 on NCDEX. The market is gradually reviving due to increased participation of millers, who are buying for the forthcoming festival season. There are enough stocks in NCDEX warehouses which will cast downward press in the markets. The decline in the rupee against the dollar has resulted in chana prices rising to $585 a tonne in the global market.

Sunflower Farmers Asked To Sell Crop In TN

Coimbatore: Sunflower farmers who raised summer crop (April-May) and are ready with their harvest in Tamil Nadu are suggested to sell their produce forthwith by the Domestic and Export Market Intelligence Cell (DEMIC) of the Tamil Nadu Agricultural University (TNAU) here. The DEMIC, in its crop prospects and market-led price forecasting based on sunflower price data behaviour as it prevailed in the State's primary market for the crop at Vellakoil, has noted that the average price for sunflower would revolve around Rs 22/Rs 23 per kg during this period (August-September 2007) without any upheavals. Sunflower is being raised in Tiruchi, Erode, Karur, Dindigul, Villupuram and Cuddalore regions of Tamil Nadu and the average crop area is pegged at 17,000 hectares with the per hectare yield at about 1,240 kg as against the national average of 615 kg. The DEMIC report said that the market arrivals of summer crop start from July-end onwards and the arrivals will be low this time (July-September 2007) due to poor rainfall reported last year in the crop zones.

Coonoor Tea Sale Sees Poor Demand

Coonoor: Prices fell by Rs 2 a kg on the average at sale no: 32 of the Coonoor Tea Trade Association (CTTA), when a volume of 11.82 lakh kg was offered as the demand failed to prevail at high bids. About 25 per cent of the offer, mostly the browner sorts, had to be withdrawn for want of bids. A good volume was auctioned for Rs 31 to 34. "Better medium CTC leaf teas sold at last levels, but medium sorts eased Rs 1 to 2 a kg. The range of brokens and fannings among orthodox leaf got poor demand and eased Rs 2 to 4 a kg. Flaky teas could be sold only when prices shed more. The choppy varieties were absorbed when prices shed Rs 2 to 3. Among the corporate purchasers, Hindustan Unilever Ltd purchased better medium sorts. JV Gokal selected orthodox dusts. CIS shippers bought bolder grades for around Rs 36 to 37.

Rubber Price Declines

Kottayam: Physical rubber prices decreased on Aug 13. Sheet rubber fell to Rs 88 a kg both at Kottayam and Kochi from Rs 91 a kg on Aug 11. The rubber futures lost heavily breaking the daily limit of 2 per cent on early trade regained partially towards mid-session but finished weak following renewed selling pressure on late trading. The August contract on NMCE, declined by 4 per cent to Rs 88.11 a kg in the morning session finally landed at Rs 90.50 (91.78) a kg, while the September contract fell to Rs 82.50 (85.31), October to Rs 79.61 (81.66) and November contract to Rs 78.55 (80.50) per kg for RSS 4. The September contract fell to Rs 82.65 (85.81) a kg on MCX. Spot prices were (Rs/kg): RSS-4: 88 (91); RSS-5: 85.50 (89); ungraded: 82 (85.50); ISNR 20: 85 (88.75) and latex 60 per cent: 58.95 (60).

Pepper Future Mkt Increases

Kochi: Pepper futures market increased on Aug 13, on purchasing support and limited selling. The futures have now come in line with the ready and spot prices. There were purchasers for good quantity while the sellers were very much limited and this phenomenon increased the prices. In the international scenario, Vietnam is said to have increased its prices for farm grade pepper. The trend in the other origins would be known on Aug 14, when the buyers re-open after the weekend. Increase in other contracts was from Rs 407 to Rs 498 a quintal. The increase in other contracts was from Rs 150 to Rs 388 a quintal. The total open interest on NCDEX moved up by 124 tonnes to 25,312 tonnes. September and October increased by 466 tonnes and 128 tonnes respectively to 12,442 tonnes and 5,864 tonnes. August position declined by 52 tonnes to 491 tonnes. Spot prices, in tandem with the futures market trend, went up by Rs 200 a quintal on Aug 13, to close at Rs 13,100 (un-garbled) and Rs 13,700 (MG 1).

Sugar Mills Have Rs 5,000cr Arrears

New Delhi: Sugar mills in the country owe cane growers almost Rs 5,000 crore in payment arrears, according to the Union Minister of State for Consumer Affairs, Food and Public Distribution, Dr Akhilesh Prasad Singh. As on June 15, total cane price debt, based on provisional data, amounted to Rs 4,746 crore. Of the total outstanding amount, mills in Uttar Pradesh owed Rs 2,637.15 crore, followed by Maharashtra (Rs 568 crore), Karnataka (Rs 510.55 crore), Tamil Nadu (Rs 240.83 crore), Bihar (Rs 197.34 crore), Andhra Pradesh (Rs 188.91 crore), Uttaranchal (Rs 146.43 crore), Haryana (Rs 127.40 crore), Gujarat (Rs 71.53 crore) and Punjab (Rs 37.69 crore).

World Oilseeds Production For 2007-08 Witnessed Lower

Mumbai: Global output of major oilseeds in 2007-08 is projected at 391 million tonnes (mt), down from previous years record 405 mt, according to the latest US Department Agriculture (USDA) compilation of world agricultural supply and demand estimate. The fall can be attributed mainly to a fall in the US soyabean output which is slated to hit a recent low of 71.5 mt, from the previous years record 86.8 mt. China, too, is set to face a decline of 1 mt to 15.2 mt. China's soyabean imports are forecast to rise to a new high of 33.5 mt from 28.7 mt in 2006-07. For 2007-08, USDA has forecast Brazil's soyabean output at 61 mt (59 mt) and Argentina at 47 mt (unchanged). World vegetable oil production is forecast at 125.8 mt, up from 121.2 mt of 2006-07.

On the consumption side, USDA has forecast 125.9 mt for 2007-08 suggesting output and consumption will remain in more or less balance. Forecast consumption for 2007-08 represents a growth of 4.6 mt from the previous year. From 115.1 mt in 2005-06, world vegetable oil consumption expanded to 121.2 mt the following year, representing an increase of 6.1 mt. While diversion of vegoil for biodiesel output sucked out a significant quantum of oil that would otherwise have been available to the market in the normal course, the extraordinary price spurt was not justified by market fundamentals.

Chilli Prices Likely To Beef Up

Chennai: Chilli prices likely to strengthen in the short-term but weaken in the long term. Demand is expected to come in from Bangladesh, Malaysia and Sri Lanka. Last week, chilli September contracts saw a mixed sentiment. Spot prices in Guntur ruled steady to firm. Demand is hoped basically from Bangladesh, Malaysia and Sri Lanka. Thus for the long term (November-December) the prices may weaken whereas in the short term (September-October) the prices may strengthen. The firm said guar futures were likely to rule firm on reports of damage to the standing crop in Ganganagar, Rajasthan, besides insufficient rains in the growing belts. Last week, September contract traded in the range of Rs 1,674-1,823 a quintal. Any increase in output is possible only if the targeted sowing is finished by August 15.

Kolkata Auction Sees Good Demand For CTC Teas

Kolkata: Last week there was a better demand for CTC teas in North Indian auction centres at Kolkata, Siliguri and Guwahati. Good quality CTC brokens sold around last levels, with prices for the remainder following quality. The domestic purchasers operated with strength, while export inquiry picked up for bolder brokens and fannings. Orthodox varieties too saw good demand with prices holding firm. The CIS and the West Asian purchasers operated active, with good support from major blender and North India. Crop intakes in the first week of August were lower than the same period last year. Mombasa auctions recorded a firm to dearer market this week. Sri Lankan markets were again strong following widespread buying for exports.

Pepper Sees Downtrend

Kochi: The downward trend continued in the pepper futures last week with the prices declining by Rs 230-406 a quintal on NCDEX and by Rs 53 to Rs 450 a quintal on NMCE at the weekend close. Spot prices declined by Rs 300 a quintal during the week to close at Rs 12,900 (un-garbled) and Rs 13,500 (MG 1) at weekend close. However, reports of firming up of prices in Vietnam and Indonesia helped prices regained on Aug 11, by Rs 251- Rs 317 a quintal on NCDEX and Rs 200-296 a quintal on NMCE. August contract on NCDEX increased by Rs 269 a quintal to close at Rs 12,985 on Aig 11. The total turnover on Aug 11, on NCDEX declined sharply by 10,769 tonnes to 16,092 tonnes, while on NMCE it dropped by 869 tonnes to 929 tonnes. Asta grade was quoted at $3,700 a tonnes (f.o.b.) while 500 GL and 550 GL were at $3,270 and $3,400 a tonnes (f.o.b.) respectively. In Indonesia, LASTA was quoted at $3,700-3,750 a tonnes (f.o.b.) even after the harvesting said to have commenced there. Indian MG 1, therefore, still remained competitive.

Rubber Witnesses Down Trend

Kottayam: Spot rubber fell during the weekend session. The players seemed to expect a weak opening in global rubber on Aug 13. Sheet rubber fell to Rs 91 a kg from Rs 93 a kg. The rubber futures declined further on NMCE. The August contract declined sharply breaking the daily limit of 2 per cent to Rs 92.00 (94.16), while the September contract fell to Rs 85.30 (86.56), October to Rs 81.55 (83.21) and November to Rs 80.50 (81.71) per kg for RSS 4. The September contract weakened to Rs 85.95 a kg from Rs 86.46 on MCX. Spot prices were (Rs/kg): RSS-4: 91 (93); RSS-5: 89 (90); ungraded: 85.50 (87); ISNR 20: 88.75 (89.50) and latex 60 per cent: 60 (61.05).

Cardamom Rates Increase Due To Short Supply

Kochi: Cardamom prices during the week displayed an upward trend on short supply at sales held in Kerala and Tamil Nadu. Thin arrivals have bounded the auctions to two this week instead of seven. At auction held by Cardamom Processing and Marketing company (CPMC) in Kumily on Aug 8, the arrivals stood at 30 tonnes and almost the entire quantity was sold out. Thirty per cent of the capsules was of the current crop and balance was from the carry over stock.

North Indian dealers purchased via their representatives. The Kerala Cardamom Processing and Marketing Cooperative (KCPMC) would commence its auction from August 19 and would continue through out the season. The maximum price at the Aug 08, auction was Rs 525 and the minimum Rs 200 a kg. Average price moved up to Rs 415 a kg. It is understood that some more cardamom auctioning centres are likely to come up in Kerala's Idukki district. Auctions have been held on all seven days of the week and hence increasing the number of auctions will result in two auctions a day and that given the geographical peculiarities of the region would be difficult for the traders to participate in.

Kochi Tea Auction Sees Steady Trend

Kochi: Good general demand substantiated tea prices at last week's levels at the Kochi tea auction. Popular and good dust tea remained steady. Medium CTC were irregular, while poorer varieties tended to be lower. Orthodox dust varieties were also steady. Best CTC dust was quoted at Rs 65-70, medium CTC ranged at Rs 54-63 and below medium was at Rs 36-42. High grown BOPD varieties fetched Rs 70-103, medium BOPD was at Rs 43-44 and secondaries ranged at Rs 33-36. Exporters were fairly active in orthodox grades. Best Nilgiri varieties fetched Rs 80-100, medium orthodox was at Rs 44-63 and plain orthodox quoted at Rs 38-40.

Rubber Witnesses Steady Trend

Kottayam: The physical rubber rates were unchanged on Aug 10. Sheet rubber RSS 4 closed at Rs 93 a kg both at Kottayam and Kochi as on Aug 9. The rubber futures weakened reacting closely to the overall weakness in global markets but regained the losses partially towards close on short covering. The September contract declined to Rs 86.75 from Rs 87.22 a kg on MCX. On NMCE, the last traded price for the August contract was quoted at Rs 94.15 (94.39), September at Rs 86.64 (86.95), October at Rs 83.20 (83.75) and November at Rs 81.90 (82.39) per kg for RSS 4. Physical prices were (Rs/kg): RSS-4: 93 (93); RSS-5: 90 (90); ungraded: 87 (87); ISNR 20: 89.50 (89.50) and latex 60 per cent: 61.05 (61.05).

Pepper Future Witnesses High Volatility

Kochi: The pepper futures market saw high volatility on Aug 10, on bearish activities and increased marginally at the day's close. Prices at the other origins reportedly ruled firm at previous levels. Purchasers were waiting and watching. August contract on NCDEX moved up by Rs 42 a quintal on Friday to Rs 12,775. December fell by Rs 22 a quintal. On NMCE, August contract increased by Rs 89 a quintal to Rs 12,780. All the other contracts except October, which increased by Rs 33, dropped by Rs 18 to Rs 275 a quintal. Total turnover on NCDEX declined by 1,044 tonnes to 26,861 tonnes while on NMCE, it increased by 266 tonnes to 1,798 tonnes. Total open interest on NCDEX fell by 783 tonnes to 25,132 tonnes. August and September positions dropped by 354 tonnes and 889 tonnes, respectively to 4,696 tonnes and 12,067 tonnes.

Marginal Growth In Tea Production In Jan-June

Kolkata: Between January and June this year, the country's tea output increased by a meagre 0.4 per cent at 334.7 million kg (mkg), increase from 333.3 mkg in the same period of last year, according to statistics complied by the Indian Tea Association (ITA). Out put in North India increased by 4.8 mkg to 225.3 mkg or 2.2 per cent while the South Indian production fell by 3.4 mkg or 3.1 per cent at 109.4 mkg. The Kenyan production increased by 64.7 mkg to 198.8 mkg or 48.2 per cent and Bangladesh production by 4.1 mkg at 15.7 mkg or 35.2 per cent.

The output figures for other tea producing countries, as prepared by ITA, are: Between January and May, tea production in Indonesia increased by 14.4 per cent at 37.2 mkg, in Tanzania by 16.1 per cent at 17.7 mkg, and Malawi by 6.5 per cent at 30.9 mkg. Between January and June this year, India's tea exports declined by 11.8 mkg at 75.7 mkg (87.5 mkg in the same period of last year). The export of North Indian tea at 36 mkg (33 mkg) posted a growth of three mkg while the export of the South Indian tea at 39.7 mkg (54.5 mkg) showed a decline of 14.8 mkg. The average export price of North Indian tea at Rs 120.87 per kg was fell by Rs 6.5 per kg and of South Indian tea at Rs 72.92 per kg by Rs 7.4 per kg. The total value of North Indian export was up by Rs 58.4 crore at Rs 435.5 crore (Rs 377.10 crore) but the total value of South Indian tea export was lower by Rs 67.5 crore at Rs 289.48 crore (Rs 357 crore) due to the decline in volume, the ITA report adds.

Rubber Rates Increase

Kottayam: The physical rubber rates increased on Aug 9. Sheet rubber increased to Rs 93 and Rs 93.50 a kg respectively at Kottayam and Kochi from Rs 92.50 a kg on brisk trading. The rubber futures displayed a better trend with the August contract for RSS 4 increasing to Rs 94.50 a kg against Rs 91.36 a kg on MCX. The August contract for the grade finished better at Rs 94.30 (93.67), September at Rs 86.80 (86.45), October at Rs 83.84 (83.25) and November at Rs 82.45 (81.92) per kg on NMCE. The open interest on NMCE was quoted at 6,445 (6,237) lots with 1,797 (1,889) lots in August, 2,877 (2,614) lots in September, 1,274 (1,247) lots in October and 497 (487) lots in November. The September futures for RSS 3 improved to 255.1 Yen (Rs 86.68) a kg against 253.7 Yen a kg at TOCOM. Spot prices were (Rs/kg): RSS-4: 93 (92.50); RSS-5: 90 (88.50); ungraded:

Pepper Futures Fell On Decline In Stock Mkt

Kochi: Pepper futures market, which increased by Rs 250 a quintal in the morning session, on Aug 9, declined by over Rs 150 a quintal at the day's closing on the downward trend in the stock market following the reported crash in the European share market. To be ready to buy from these Indian exporters even at a price slightly higher than what was quoted by those who were offering at lower rates of late. August contract on NCDEX declined by Rs 165 a quintal on Aug 9, to close at Rs 12,716 from Rs 12,881 on Aug 8.

The decline in other contracts was from Rs 89 to Rs 179 a quintal. On NMCE August contract declined by Rs 77 a quintal to close at Rs 12,695 from Rs 12,772. The decline in other contracts except December and January was from Rs 112 to Rs 139 a quintal. December and January moved up by Rs 230 and Rs 267 a quintal respectively. August position fell by 120 tonnes to 5,050 tonnes. On NMCE total open interest fell by 6 tonnes to 2,411 tonnes. August position declined by 135 tonnes to 756 tonnes. Spot prices ruled steady at previous level of Rs 12,900 (un-garbled) and Rs 13,500 (MG 1) a quintal on Aug 9.

Tea Volume On Offer At Coonoor Increases

Coonoor: A sudden forge in catalogues has increased the offer for the Sale No: 32 of the auctions of the Coonoor tea trade Association (CTTA) to be held Aug 9 and Aug 10. A volume of 11.82 lakh kg has been catalogued, marking an increase of 1.1 lakh kg over the offer of last week. Of the 11.82 lakh kg on offer now, as much as 8.73 lakh kg belongs to the leaf grades and 3.09 lakh kg to dust grades. Within the leaf catalogues, only 0.38 lakh kg belongs to the orthodox variety and as much as 8.35 lakh kg to the CTC variety. In the dust category, only 0.47 lakh kg belongs to orthodox, while CTC totals 2.62 lakh kg.

Spot Rubber Witnesses Weak Trend

Kottayam: Spot rubber turned weak on Aug 8. The prices lost in tune with fells in domestic futures. A weak closing in global futures was yet another factor which kept the prices under pressure, while the market reported all-round losses amidst low volumes. Sheet rubber declined to Rs 92.50 from Rs 93 a kg both at Kottayam and Kochi. The rubber futures declined sharply piercing via the initial daily limit of 2 per cent in the morning trade pruning the speculative gains accumulated during the past few sessions. On NMCE, the August contract declined to Rs 93.85 (94.57), September to Rs 86.35 (87.53), October to Rs 83.19 (84.43) and November contract to Rs 82.20 (82.96) per kg for RSS 4.The August contract finished weak at Rs 91.60 a kg against Rs 92.55 on MCX. Spot prices were (Rs/kg): RSS-4: 92.50 (93); RSS-5: 88.50 (90); ungraded: 86.50 (88); ISNR 20: 88.50 (90) and latex 60 per cent: 61.05 (61.05).

Tight Stocks Likely To Encourage Coffee Prices

Kochi: Coffee output in the country is likely to decline short of the projections made by the Coffee Board mainly because of weather related problems and severe infestation of white stem borer in Arabica. According to Coffee Board statistics, the post blossom estimation for 2007-08 is that the total output will come to 2.91 lakh tonnes including of 1,00,750 tonnes of Arabica and 1,90,250 tonnes of Robusta. Heavy downpour in June/July in the Madikeri (Coorg) region in Karnataka has led to dropping of young berries of both arabica and robusta. As a result, there could be a decline in production by 10-15 per cent in this region. Besides, the stock position is tight.

The growers could liquidate all their loan liabilities if the current prices were maintained for another two years. The growers ignored the plantations when the prices were at rock bottom for some years in the past. Since the prices have moved up now, they had resorted to farm management practises such as pruning, applying fertilisers besides replanting the damaged plants so as to increase the productivity. The world output this year is estimated at 118 million bags as against the projected consumption of 120 million bags.

Rubber Price Witnesses Up Trend

Kottayam: Physical rubber prices increased further on Aug 7. Sheet rubber ended higher at Rs 93 from Rs 91 and Rs 92 a kg, respectively at Kottayam and Kochi as covering groups turned aggressive but the transactions were thin. The August contract was better at Rs 94.70 (93.41) while the September contract weakened to Rs 87.60 (88.11), October Rs 84.45 (85.34) and November to Rs 82.95 (83.88) per kg for RSS 4. The open interest was 6,376 (6,522) lots with 1,999 (2,301) lots in August, 2,664 (2,520) in September, 1,250 (1,256) in October and 463 (445) in November. The August delivery contract increased to Rs 92.82 from Rs 91.22 a kg trading 222 lots on MCX. RSS 3 weakened further at its September futures to 255.3 yen (Rs 86.83) a kg against 257.2 yen a kg at TOCOM. The grade moved down to Rs 88.73 from Rs 89.47 a kg at Bangkok.

Rubber Future Gains

Kottayam: Spot rubber improved on Aug 6. RSS 4 settled higher at Rs 91 and Rs 92 a kg against Rs 89.50 and Rs 90 a kg, respectively, at Kottayam and Kochi. The rubber futures gained sharply breaking the initial upward limit of 2 per cent on the NMCE. The August contract increased to Rs 93.41 (Rs 89.82), September to Rs 88.16 (Rs 84.77), October to Rs 85.49 (Rs 82.53) and November to Rs 83.90 (Rs 81.75) per kg for RSS 4. The August contract increased to Rs 91.60 from Rs 88.18 a kg on MCX. The open interest on NMCE was 6,522 tonnes (6,611 tonnes) with 2,301 tonnes (2,485 tonnes) in August, 2,520 tonnes (2,476 tonnes) in September, 1,256 tonnes (1,218 tonnes) in October and 445 tonnes (432 tonnes) in November.

Kolkata Tea Auction Sees Good Demand For CTCs

Kolkata: The CTC teas on offer last week at Kolkata, Guwahati and Siliguri auctions witnessed good demand with better varieties holding levels. The major blender, packeteers and domestic sections were the mainstay, with some export inquiry for bolder brokens and fannings. The highest price was Rs 132 per kg. The Orthodox varieties were well received by Iran and the CIS countries with selective Continental inquiry for tippy sorts. Darjeeling teas witnessed good general demand with prices following the seasonal decline in quality.
The Tea Board crop estimates for June indicate a marginal increase in the North Indian production at 84.63 million kg, up by about 0.045 mkg over the same period last year while the South Indian production at 23.65 mkg showed an increase of 0.8 mkg during the same period. Kenyan teas at Mombasa auctions saw good general demand at irregular rates with better sorts showing appreciation.

Pepper Price Declines Due To Bearish Trend

Kochi: The continued decline in the pepper prices resultant from the pessimistic cartel operations has made the commodity competitive for the past several weeks. However, the fall in the prices at all other origins has been marginal and the prices of Asta grade pepper continued to rule above the Indian parity. Bearish cartels have been consistently pushing the prices down and that might benefit the overseas purchasers. All the contracts on NCDEX during the week declined by Rs 601 to Rs 819 a quintal while on NMCE it fell by Rs 445 to Rs 560 a quintal.
The total open interest on NCDEX moved up by 795 tonnes to 26,036 tonnes while on NMCE it went up by 208 tonnes to 2,612 tonnes. The total turnover on NCDEX increased by 31,317 tonnes to 1,36,749 tonnes during the week while on NMCE it went up by 3,213 tonnes to 10,866 tonnes. August and September prices remained below spot prices on the exchanges. Spot prices dropped by Rs 400 a quintal during the week to close at Rs 13,200 (un-garbled) and Rs 13,800 (MG 1) at the weekend close.

Pepper Future Mkt Declines

Kochi: Indian pepper futures market declined on Aug 3, on concerted bearish activities despite the fundamentals in the world market remained unchanged. Cell calls spreading messages that the prices would decline sharply said to have created strong bearish sentiments in the players and as a result, long operators liquidated. Meanwhile, Indian pepper continued to remain competitive in the world market. Vietnam was reportedly offering Asta grade New York at $3,950 (c&f) a tonne as against the price for MG 1 at $3,800-3,825 a tonne (c&f). B Asta was offered at $3,750 (f.o.b.) while MLSV Asta spot was offered at $4,000-4,100 a tonne. Vietnam has quoted 500 GL at $3,350 a tonne (f.o.b.) while 550 GL at $3,500 a tonne (f.o.b.). On Aug 3, Muntok white and Vietnam white were being offered at $5,000-5,050 and $5,400 a tonne respectively.

Pepper Futures Mkt Sees Up Trend

Kochi: The pepper futures market, which has been seeing a fall for the last three days, increased on Aug 2, on some purchasing support and bullish activities. Reports that Vietnam has increased by $50 a tonne has also contributed to the upward move. Vietnam was offering 500 GL at $3,375 a tonne (f.o.b) while V Asta at $3,700 a tonne (f.o.b). Exporters were interested to cover at lower levels. Indonesian exporters had covered MG 1 from India. Harvesting in Brazil and Indonesia has started and yet the trend in the world market is bullish. Arrivals at the primary market were virtually nil, and as a result the operators in the primary market were finding it difficult to get replacement. The major contributor to the high volatility is the intra-day trade while the cartels are pulling down and pushing up the market.
August contract on NCDEX on Aug 2, increased by Rs 95 a quintal to close at Rs 13,655 from Rs 13,560 on Aug 1. The increase in other contracts was from Rs 107 to Rs 163 a quintal. On NMCE, August contract went up by Rs 89 a quintal to close at Rs 13,418 from Rs 13,329. September and October increased by Rs 87 and Rs 120 a quintal while December and January declined by Rs 87 and Rs 108 respectively. Total open interest on NCDEX increased by 313 tonnes to 25,563 tonnes. September and October went up by 250 tonnes and 185 tonnes to 13,151 tonnes and 3,871 tonnes respectively. Spot prices ruled firm at previous levels at Rs 13,500 (un-garbled) and Rs 14,100 (MG 1) a quintal on Aug 2.

Pepper Futures Mkt Decline Sharply

Kochi: Pepper futures market declined sharply on Aug 1, on liquidation by operators holding long positions following the sharp decline in the stock market. Add to this, bear operators were spreading rumours that the prices of pepper in Vietnam had declined. The futures market is falling without any link to the ground realities. Some exporters had offered MG 1 to US market at $3,750 a tonne (c&f) when the Indian parity was at $3,800 a tonne (c&f). Spot prices declined by Rs 100 a quintal on Aug 1, to close at Rs 13,500 (un-garbled) and Rs 14,100 (MG 1).

Rubber Witnesses Down Trend

Kottayam: A corrective phase in domestic futures put spot rubber under pressure on Aug 1. TOCOM, the global trend setter also declined to the negative territory in late trading quoting its August futures at 257.7 The rubber futures opened in a firm note but lost its grip immediately following profit booking at higher levels. On NMCE, the August contract fell to Rs 87.47 (88.66), September to Rs 83.45 (84.50), October to Rs 81.60 (82.54) and November contract to Rs 81.07 (82.05) a kg for RSS 4. The August contract fell to Rs 86.47 (86.75) a kg on MCX. Spot rubber prices were (Rs/kg): RSS-4: 87.50 (88); RSS-5: 86 (86.50); ungraded: 83 (84); ISNR 20: 86 (86.50) and latex 60 per cent: 60 (60).

Complete Land Use Map Of Tea Gardens Will Be Ready By Early 2008

Kolkata: Satellite mapping of all small tea gardens (less than 25 acres) in Assam and West Bengal will be finished by end 2007; and by early 2008, the complete land use map of all tea gardens will be ready. Systematic remote sensing technology was first utilized for location of extensive ground water resources, and then extended to mapping of wastelands, helping to develop State-wise wasteland maps. Tea would now be the fourth area of application of satellite imagery after ground water resources, wasteland development and mapping changes in forest cover improvement. The remote sensing facility of Indian Space Research Organisation (ISRO), at Kharagpur, will be executing the project in collaboration with Tea Board.

Pawar Opposes Wheat Imports

Hyderabad: Mr Sharad Pawar, Union Agriculture Minister, has strongly opposed the Centre's decision to import wheat at a higher cost. He said it was important to build a substantial buffer in order to ensure food security. India has enough stocks for distribution via public distribution systems. But we want to build a buffer stock. It is important to have a buffer stock to ensure food security of common man in case we are hit by drought. He indicated that the imports would continue despite high costs in order to ensure food security. The Government had increased the support price by Rs 120 (including a bonus of Rs 20) a quintal as against just Rs 10 during the NDA Government.

Chana Prices Increase In Southern, Central States

Mumbai: Chana spot prices in southern and central States firmed up in contrast to the weak trend showed in Delhi and Rajasthan. Spot prices in Maharashtra were higher at Rs 2,615 per tonne. In Karnataka (Gulbarga). Unwillingness of stockists to sell at lower levels has resulted in spot prices moving up. Arrivals in the Delhi markets on July 30, were around 20 trucks against Friday's inflow of 25-30 trucks. In the futures market, chana for August delivery on NCDEX lost much of its July 30, gain to close lower by Rs 15 at Rs 2,296 per tonne on July 31. NCDEX registered a chana inventory of 9,261 tonnes in Delhi, 28,105 tonnes in Bikaner and 210 tonnes in Indore. The factors keeping the futures markets under pressure are the steady inflows of yellow peas in the markets.
In a bid to cool down prices, the government declared various sops to public companies to import chana. Private importers have stuck deals to import chana from Australia at $600 per tonne, which works out to Rs 2,500 a tonne. The consignment is hoped to land by September-end. Futures are hoped to trade weak till August-end and pick up if the demand increases. Spot prices are hoped to touch around Rs 2,600-2,700 per tonne beginning September.

Rains, Disease Affects Rubber Production

Kottayam: There has been a 50 per cent decline in rubber output this year in major rubber producing areas such as Pala and Kanjirappally due to vector-borne diseases such as chikungunya and other fevers in plantation areas in the State. The findings of a survey conducted by the Rubber Board to assess the crop loss due to the fever in rubber holdings in the April-June period are yet to be finalised. The board's officers throughout the State visited 2,500 holdings and collected the data for the survey, which comprising loss of tapping days, loss of wages for labourers and crop loss during the period.

Rubber Witnesses Up Trend

Kottayam: The rubber prices increased again ridden by short supply. Sheet rubber RSS 4 increased to Rs 88 a kg from Rs 85.50 and Rs 86 a kg respectively at Kottayam and Kochi. In futures, the August contract firmed up to Rs 88.55 (86.63), September contract to Rs 84.40 (83.37), October to Rs 82.50 (82.05) and November to Rs 82 (82.39) a kg on NMCE. Spot prices were (Rs/kg): RSS-4: 88 (85.50); RSS-5: 86.50 (84); ungraded: 84 (81); ISNR 20: 86.50 (83.50) and latex 60 per cent: 60 (59.45).