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Commodity Market : Indian-commodity.com

Thursday, November 22, 2007

Chilli Drops On Weak Spot Market

Mumbai: Following the overnight gain on the international markets, soya complex opened bullish on NCDEX, but gave in much of the gains to close almost flat.

Soyabean futures fell 0.14 per cent to Rs 1,766 per quintal, while soya oil for December delivery closed with a marginal gain of 0.13 per cent at Rs 521 per 10 kg.

Chilli February contracts lost 2.07 per cent at Rs 3,684 per quintal on weak Guntur spot markets. “Prices in the spot market fell by 50 per quintal to Rs 3,800-3,900 levels. Arrivals were around 30,000 bags and there were no buyers. Export demand was also weak,” said a trader.

Jeera pares losses

Jeera futures hit the lower circuit of 4 per cent but trimmed down its losses and closed 2.07 per cent lower at Rs 10,250 per quintal. Spot jeera prices fell by Rs 250-300 per quintal to Rs 10,000.

Bullion turnover on MCX was at Rs 3,182.00 crore consisted of Gold contracts worth Rs 2,220.85 crore and silver contracts Rs 961.15 crore.

Gold contracts, including gold mini, rose by between Rs 24 and Rs 126 per 10 gm. Gold December 7 was traded 0.39 per cent up at Rs 10,109 per 10 gm.

Silver December contract pulled back by 0.30 per cent at Rs 19,021 per kg.
Posted by Indian-commodity at 10:51 AM

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