Cardamom Price After Falling Below - Sep 30, 2008

Kochi: The average cardamom price after falling below Rs 600 a kg last week picked up on Sept 28 and increased to Rs 620 a kg last Sept 28. However, it declined on Sept 29 at the CPA auction at Bodinayakannur. Heavy arrivals because of the peak harvesting season coupled with liquidity crunch forced the prices at the auctions held in Kerala and Tamil Nadu to drop last week. At the CPA auction on Sept 29, the average price declined to Rs 598 a kg. Total arrivals were 13 tonnes and the entire quantity was sold out. North Indian purchasers were active. The maximum price was Rs 774 a kg and minimum Rs 470 a kg. The weighted average price also remained at Rs 606.65 a kg as against Rs 407.58 a kg last season.

Optimistic Sentiments October Contract - Sep 30, 2008

Kochi: Pepper futures market increased marginally on Sept on optimistic sentiments. October contract went up by Rs 51 a quintal to Rs 13,604, while November and December contracts were increased by Rs 53 and Rs 47 a quintal respectively. Total turnover on NCDEX increased by 2,772 tonnes to 6,515 tonnes. Total open interest fell by 44 tonnes to 18,278 tonnes. October position fell by 229 tonnes to 7,189 tonnes, while November and December positions moved up by 123 tonnes and 49 tonnes respectively.

Heavy Long Liquidation Rabad Pushin - Sep 30, 2008

Kottayam: Rubber rates resumed the downtrend on Sept 29. The prices declined further on purchasers resistance as the international indices were hit badly on heavy long liquidation pushing the October contract deep in to the minus territory on late trading in TOCOM. Sheet rubber RSS 4 fell to Rs 121 from Rs 125 a kg as on Sept 27. Spot rates were (Rs/kg): RSS-4: 121 (125); RSS-5: 118 (123); ungraded: 114 (120); ISNR 20: 116 (120.50) and latex 60 per cent: 77 (77).

Auctions Of Coonoor Tea Trade Association - Sep 29, 2008

Coonoor: Prices increased by Rs 2 a kg generally even as some invoices held on to last week's levels and some others struggled at Sale No: 39 of the auctions of Coonoor Tea Trade Association (CTTA). Market witnessed corrections with CTC brighter liquoring leaf grades remaining steady and some improved invoices got Rs 2-3 a kg more. Smaller fannings and brokens lost a rupee. Fannings gained Rs 3-4. Improved CTC dust grades received Rs 2 more. Nearly 50 marks of CTC teas from bought-leaf factories remained in Rs 100 price-band. Some factories gained this level for more than one mark.

Major Blender And Tata Tea Functioned - Sep 29, 2008

Kolkata: Last week, CTC teas at Guwahati and Kolkata sales once again sold readily at firm to dearer rates. The major blender and Tata Tea functioned actively at Kolkata and Guwahati, while there was a fair support from other packeteers. In the Darjeeling tea auction, whole leaf and broken grades were easier while fannings were around last. The Mombasa market saw picked out better sorts barely firm while the remainder eased in value. The Bazaar showed interest on chosen lines, while Russia, Afghanistan and Egyptian Government Sector were quiet. Somalia maintained activity.

Domestic Rubber Rates Ruled Steady - Sep 29, 2008

Kottayam: The domestic rubber rates ruled steady on Sept 27. Sheet rubber RSS 4 ended unchanged at Rs 125 a kg as on Sept 26. The spot rates a kg were: RSS-4: Rs 125 (125); RSS-5: Rs 123 (123); Ungraded: Rs 120 (120); ISNR 20: Rs 120.50 (120.50) and Latex 60 per cent: Rs 77 (77).

Physical Rubber Prices Experienced Heavy Losses - Sep 27, 2008

Kottayam: The physical rubber prices experienced heavy losses on Sept 26. RSS 4 plunged to Rs 125 from Rs 130 a kg as more dealers and growers joined the sellers queue even in an unhealthy market which lacked genuine consumer support. The grade fell to Rs 130.24 (130.71) a kg at Bangkok spot. Spot rates (Rs a kg) were: RSS-4: 125 (130); RSS-5:123 (127.50); ungraded: 120 (126); ISNR 20: 120.50(123); and Latex 60 per cent: 77 (77).

Resumption Of The Dollar-Led Upturn - Sep 26, 2008

The prices of all edible oil varieties are expected to go up by 20 per cent by Diwali owing to festival demand and tight supply. Generally, consumer demand multiplies during festivals such as Diwali, Dussera and Eid, which continues till the new year. According to the source, the output is likely to decline in Malaysia during the upcoming 2008 season. However, the demand is expected to surge from biodiesel sector and possibly a resumption of the dollar-led upturn in commodity prices. Therefore, we anticipate the prices of all edible oils would look up.

Market Under Pressure During The Session. Sep 26, 2008

Kottayam: Spot rubber continued its downward trend on Sept 25. RSS 4 ended weak at Rs 130.00 from Rs. 132.00 a kg on purchaser resistance. The marginal selling from dealers and growers kept the market under pressure during the session. It (spot) slipped to Rs 130.71 (131.43) a kg at Bangkok. Spot rates (Rs a kg) were: RSS-4: 130 (132); RSS-5: 127.50 (130); ungraded: 126 (127.50); ISNR 20: 123 (124); and latex 60% : 77 (78)

Guarseed Production Likely To Grow - Sep 26, 2008

India is likely to produce 30 per cent more guarseed this season, because of good rainfall and better yield. The overall production will reach 10 million bags (each 100 kg) compared with 7.5 million bags last year. Futures have fallen by 8.4 per cent since the beginning of this month.The arrival has just begun in a minuscule way which is expected to gain momentum by the mid of October. Rajasthan, Haryana, Gujarat, Punjab, Uttar Pradesh and Madhya Pradesh are the states which produce guarseed. Rajasthan is expected to add around 5 million bags alone while rest of the produce will be from Gujarat and other states. In general, guarseed market will not soften much. In the physical market of Bikaner, prices of guarseed are hovering at Rs 1,630 a quintal whereas in Jodhpur spot market it is trading at Rs 1,750 a quintal.

Chilli Futures Attain Lower Circuit - Sep 25, 2008

Mumbai: Lack on significant export enquiries declined chilli futures in NCDEX by 2.36 per cent to Rs 5,248 a quintal. Jeera declined nearly 2 per cent to Rs 10,557 a quintal on low demand coupled with stockists unwinding their inventory in anticipation of a good crop in the coming season. Turmeric shed 1.23 per cent to Rs 3,760 a quintal on long liquidation. Pepper was down slightly at Rs 13,255 a quintal. Rape/mustard seed futures increased 2 per cent at Rs 604 for 20 kg on good demand. Short covering increased soyabean futures 1.04 per cent to Rs 2,049 a quintal. Castor seed recovered 1.05 per cent to Rs 616 per 20 kg on firm edible oil prices. In MCX, menthe oil futures declined 0.96 per cent to Rs 627 a kg on the back of weak demand in spot markets. Cardamom was down 2.35 per cent to Rs 686 a kg on long liquidation after the recent rally.

Tight Supply Position Coupled - Sep 25, 2008

Kochi: Pepper futures market on Sept 24 declined mainly on the flash strike at the Kochi port. Tight supply position coupled with fall in futures prices and a weakened rupee has led to some business coming to India. Exporters who had taken delivery on Sept 19 and 20 might not be able to meet the delivery schedule set by the overseas purchasers and as a result there was no buying. The intermittent strike at the port is said to be compelling the exporters to see for alternative shipping facilities. On NCDEX, October contract declined by Rs 105 a quintal to Rs 13,255 on Sept 24. November and December contracts declined by Rs 126 and Rs 155 to Rs 13,500 and Rs 13,727 a quintal respectively. Total open interest also increased by 462 tonnes to 18,162 tonnes. Meanwhile, pepper exports from India during April-August 2008 fell to 11,250 tonnes valued at Rs 190.65 crore from 15,620 tonnes prized at Rs 226.44 crore in the corresponding period last year. The unit value realised this year was Rs 169.47 a kg as against Rs 144.97 a kg. Shipments in August this year declined to 1,750 tonnes valued at Rs 30.10 crore, which is more than half of the quantity of 3,567 tonnes of August 2007.

Pepper Export Decline - Sep 25, 2008

Kochi: Spices exports from the country have increased in volume and value during first five months of the current fiscal. During April-August period, spices exports was increased by 12 per cent in volume to 2,23,050 tonnes, while export realisation was increased 16 per cent to Rs 2,265.22 crore. There was nominal attrition in volume and value of spices exports during the month of August. While volumes declined by four per cent to 35,555 tonnes, the total value realised declined by a percent to Rs 417.28 crore. Meanwhile, the value realisation in dollar terms fell by six per cent to $97.19 million
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Despite a increase in unit value realisation, export of pepper declined to 11,250 tonnes and the value fell to Rs 190.65 crore. The unit value realised has, meanwhile, risen from 144.97 to Rs 169.47 a kg There was nominal growth in chilli exports to 96,500 tonnes, which got Rs 509.18 crore. The export of coriander seeds during the period increased sharply to 14,250 tonnes valued at Rs 95.25 crore, recording a 32 per cent growth in volume and 135 per cent growth in value. The unit value realisation has also increased from Rs 37.47 to Rs 66.84 a kg. Cumin seed exports also gained reporting 157 per cent in quantity to 21,250 tonnes and 152 per cent in value to Rs 214.73 crore

Bollgard Bt Cotton Acreage Likely To Enlarge To 172 Lakh Acres - Sep 24, 2008

Coimbatore: The total area under Bollgard Bt cotton has steadily increased over the past five years from 0.7 lakh acres in 2002 to a whopping 144 lakh acres in 2007. Mahyco Monsanto Biotech (India) Ltd (MMB) has pegged the acreage to swell to 172.3 lakh acres during the 2008 kharif season with Maharashtra topping in total Bt cotton area at 72.1 lakh acres.

Bollgard Bt cotton was first cleared for commercialisation in India by the Genetic Engineering Approval Committee (GEAC) in 2002, followed by the double-gene technology - Bollgard II in 2006. MMB unveiled these technologies and sub-licensed 23 Indian seed producing companies for introducing the same in their germplasm. MMB's recent survey has disclosed rapid adoption of these technologies.

The company's findings show that Bollgard Bt cotton has been cultivated in 76 per cent of India's total acreage under cotton in kharif 2008. The area under Bollgard II has increased to 45 lakh acres against 12.2 lakh acres in 2007 and Bollgard continued to be widely adopted on 127 lakh acres. In Tamil Nadu, the Bollgard II acreage increased by 85 per cent to 1.2 lakh acres compared with 0.18 lakh acres in 2007, and Bollgard continued to be grown on 0.8 lakh acres

Pepper Future Mkt Sees Upward Trend - Sep 24, 2008

Kochi: Pepper futures continued their upward trend on tight supply in the domestic as well as in international market. Vietnam and Brazil were reportedly firmer and had increased their prices by $50 to $100 tonne. Indonesia is reported to be quietly selling to end users in the US at $3,500-3,525 a tonne (c&f). The US is said to have covered up to September and fresh demand has to emanate from October onwards. The supply position in Vietnam is also getting tighter with the stocks depleting. Similar situation is in India also. Spot rates continued to rule above the futures market prices. Indian parity on Sept 23 was at $3,200 a tonne (c&f) in to Europe and $3,300 a tonne (c&f) US. Rupee weakened against dollar and that has nullified the increase in price. October contract on NCDEX increased by Rs 216 a quintal to Rs 13,344 on Sept 23. The increase in other contracts was from Rs 198 to Rs 382 a quintal. On NMCE, October contract went up by Rs 240 a quintal to Rs 13,330. Total turn over on NCDEX fell by 169 tonnes to 10,789 tonnes

Tea Season To Witness Shortfall Production In 2009 - Sep 24, 2008

Kolkata: The tea season due from April 2009 will begin with a shortfall of at least 75-80 million kg (mkg) of tea, according to India Tea Association (ITA) and also Chairman of Consultative Committee of Plantation Associations (CCPA). This will happen because both domestic and export demands for tea are steadily increasing even as the output remains virtually stagnant. At the current consumption growth of 3.5 per cent yearly, the domestic demand will increase by an additional 35-38 mkg and the export in the current year too would be up by another 35-40 mkg. An inevitable fallout of it will be price increase. More important, the bad phase via which the industry passed in the past seven to eight years left majority of the producers virtually bleeding. The present price increase therefore was only helping the industry to pay off their debts, clear their past liabilities and begin working on modernisation

Pessimistic Trend Seen In Jeera, Chilli, Turmeric - Sep 23, 2008

Mumbai: Despite recent spikes, jeera, chilli and turmeric futures on NCDEX are hoped to remain peeimistic in the short term. Jeera (cumin seed) for October delivery on NCDEX on Sept 19 touched the upper circuit at Rs 11,097 a quintal on short covering. Though jeera contracts on NCDEX likely to see minor gains, enough inventory is available to meet the festival demand and may pressurise the prices. At Unjha, the main mandi for Jeera, daily arrivals were at about 1,500 bags. On Sept 19, prices were at Rs 2,250/20 kg (1 per cent quality) and Rs 2,200/20 kg (2 per cent quality).

On NCDEX, there was no major movement on Sept 19 as volumes shrunk considerably. At Guntur in Andhra Pradesh, about 45,000 bags (1 bag = 45 kg) arrived, while prices were at Rs 4,800-5,200 a quintal for LCA 334. A stock of 23 lakh bags was traded on Sept 19.

Chilli is grown in Madhya Pradesh, Andhra Pradesh, Karnataka and Maharashtra. Andhra Pradesh brings about 70 per cent of the total production. The crop from Madhya Pradesh is the first to arrive in the market followed by Karnataka (Byadgi) in November, Maharashtra in December and Andhra Pradesh in January. On Sept 19, turmeric touched the upper circuit on short covering. However, good monsoon in the turmeric growing belt is hoped to boost the production

Pepper Futures Increase On Purchasing Support - Sep 23, 2008

Kochi: Pepper futures market, which opened lower increased later on Sept 22 and hit the ceiling at close on good domestic buying support. October contract increased Rs 366 a quintal to Rs 13,140. November and December increased by Rs 365 and Rs 340 to Rs 13,405 and Rs 13,650 a quintal respectively. Total turnover on NCDEX increased by 5,771 tonnes to 10,958 tonnes. Total open interest increased by 84 tonnes to 17,454 tonnes. August net open position declined by 1,078 tonnes to 9,106 tonnes, while November and December positions increased 934 tonnes and 173 tonnes respectively. October contract increased Rs 362 a quintal to close at Rs 13,123

Tea Import Bills Cost Increases Rs 15cr - Sep 23, 2008

Coonoor: Tea import bills in the first half of 2008 had increased Rs 15 crore over the corresponding period in 2007. This occurred because India imported a higher volume, despite the price increasing slightly. Between January and June 2008, India imported 8.22 million kg (mkg) at an average price of Rs 74.02 a kg against 6.25 mkg at Rs 73.43 in the corresponding period in 2007. Consequently, the overall import bill increased to Rs 60.81 crore from Rs 45.88 crore. Volume-wise, the largest import of 2.93 mkg came from Nepal followed by Indonesia 1.77 mkg and Kenya 1.63 mkg. Tea from Sri Lanka which enjoys the concessional duty of 7.5 per cent amounted at 2.15 lakh kg. Value-wise, India paid the highest import bill of Rs 20.3 crore to Nepal, followed by Rs 15.41 crore to Kenya and Rs 10.39 crore (Rs 7.36) to Indonesia

Pessimistic Trend Seen In Jeera, Chilli, Turmeric - Sep 22, 2008

Mumbai: Despite recent spikes, jeera, chilli and turmeric futures on NCDEX are hoped to remain peeimistic in the short term. Jeera (cumin seed) for October delivery on NCDEX on Sept 19 touched the upper circuit at Rs 11,097 a quintal on short covering. Though jeera contracts on NCDEX likely to see minor gains, enough inventory is available to meet the festival demand and may pressurise the prices. At Unjha, the main mandi for Jeera, daily arrivals were at about 1,500 bags. On Sept 19, prices were at Rs 2,250/20 kg (1 per cent quality) and Rs 2,200/20 kg (2 per cent quality).

On NCDEX, there was no major movement on Sept 19 as volumes shrunk considerably. At Guntur in Andhra Pradesh, about 45,000 bags (1 bag = 45 kg) arrived, while prices were at Rs 4,800-5,200 a quintal for LCA 334. A stock of 23 lakh bags was traded on Sept 19.

Chilli is grown in Madhya Pradesh, Andhra Pradesh, Karnataka and Maharashtra. Andhra Pradesh brings about 70 per cent of the total production. The crop from Madhya Pradesh is the first to arrive in the market followed by Karnataka (Byadgi) in November, Maharashtra in December and Andhra Pradesh in January. On Sept 19, turmeric touched the upper circuit on short covering. However, good monsoon in the turmeric growing belt is hoped to boost the production

Market Turned Anxiously High - Sep 22, 2008

Coonoor: Market turned anxiously high when demand was strong enough to absorb the 24-week low offer of 10.15 lakh kg at Sale No. 38 of the auctions of Coonoor Tea Trade Association (CTTA) on Sept 19. About 50 marks of CTC teas from bought-leaf factories shot into the Rs 100 price-band. Six marks of Darmona Estate, auctioned by J Thomas and Co, got over Rs 100 a kg. Homedale Factory, auctioned by Global Tea Brokers, created a record with 8 marks foraying into Rs 100 price-band in a single auctionAmong orthodox teas from corporate sector, Chamraj got Rs 155 a kg, Havukal Rs 152, Curzon Rs 148, Nonsuch Rs 144, Mailoor Rs 133, Coonoor Tea Rs 126, Terramia and Kairbetta Rs 125 each

The CTC Teas At North Indian Auction Centres - Sep 22, 2008

Kolkata: The CTC teas at North Indian auction centres of Kolkata, Siliguri and Guwahati gathered with strong demand at irregularly dearer rates, particularly for fannings and dust. The major blender was active while there was good support from Tata Tea and other packeteers. The Western Indian purchasers actively supported the liquoring categories while other internal and local purchasers and exporters operated as usual. In the Orthodox sale, the whole leaf and larger brokens tended lower while smaller brokens and fannings were barely firm. There was good support from West Asian and CIS shippers and fair enquiry from the major blender

Rubber Closed Almost Steady - sep 20, 2008

Kottayam: Spot rubber closed almost steady on Sept 19. Sheet rubber RSS 4 was static at Rs. 135.50 as on Sept 18. The tyre sector kept their quotes unchanged at Rs 135 a kg for sheet rubber. The grade (spot) fell further to Rs 132.96 (133.97) a kg at Bangkok. Spot prices were (Rs/kg): RSS-4: 135.50 (135.50); RSS-5: 133 (133); ungraded: 129 (129); ISNR 20: 125.50 (126.50) and latex 60 per cent: 78 (78)

Pepper Futures Increase On Purchasing Support - Sep 20, 2008

Kochi: Pepper futures market on Sept 19 saw high volatility and after going up it went down and closed marginally up on purchasing support. People were switching over to October and November. However, some were purchasing because of the low prices at the exchange and non-availability of ready pepper in the open market. September contract increased Rs 14 a quintal to Rs 12,690 on NCDEX.

October and November contracts were also up Rs 44 and Rs 36 to Rs 12,849 and Rs 13,101 a quintal, respectively, but far below the spot price of MG 1. Total turnover increased by 2,977 tonnes to 11,626 tonnes on NCDEX while total open interest increased 185 tonnes to 18,391 tonnes. Net open position for Sept declined by 858 tonnes while October and November increased 34 tonnes and 971 tonnes, respectively. Spot prices ruled steady at Sept 18 levels of Rs 12,800 (un-garbled) and Rs 13,400 (MG 1) a quintal

Kochi Tea Auction Sees Firm Trend - Sep 20, 2008

Kochi: Good general demand joined with lower arrivals shored up prices at the Kochi dust tea auction. CTC varieties firmed up by Rs 10-20. Firm demand was seen from major blenders and loose tea traders. There was 8.84 lakh kg of dust tea on offer. Orthodox high grown varieties remained firm. Medium orthodox was dearer by Rs 2-4. Best CTC dust got Rs 98-124, medium CTC quoted Rs 90-105 while below medium was at Rs 77-88. High grown BOPD ranged at Rs 114-115, medium BOPD was at Rs 70-75 and secondaries quoted Rs 60-70

Rubber Price Declines - Sep 19, 2008

Kottayam: Rubber prices fell further or Sept 18. Most of the participants were inactive as selling from dealers and growers remained to put pressure on the prices though the market lost almost Rs 5.50 a kg from higher levels during the past few sessions. RSS 4 weakened to Rs. 135.50 from Rs 136 a kg on Sept 17. The grade fell to Rs 133.97 a kg at Bangkok. Spot rates were (Rs/kg): RSS-4: 135.50; RSS-5: 133; ungraded: 129; ISNR 20: 126.50 and latex 60 per cent: 78

Pepper Futures Regain On Purchasing Support - Sep 19, 2008

Kochi: Pepper futures market increased on Sept 18 and crossed the first circuit on purchasing support. September contract on NCDEX increased by Rs 385 a quintal to Rs 12,700 on Sept 18 which is Rs 100 below the spot price for spot un-garbled pepper. October and November contracts increased by Rs 289 and Rs 298 to closed at Rs 12,821 and Rs 13,070 a quintal respectively. The increase in other contracts was from Rs 280 to Rs 330 a quintal. Total turnover on NCDEX increased by 1,953 tonnes to 8,649 tonnes.

Total open interest fell by 529 to 18,206. The September contract is to mature on Friday as the last day Sept 20 being Saturday. An estimated 1,200 tonnes of pepper is likely to be delivered. Indian parity increased to $3,025-3,050 a tonne (c&f) Europe and $3,125-3,150 a tonne (c&f) US. According to a latest overseas report, Vietnam pepper is increased and FAQ 500 was sold at $2,550 a tonne (f.o.b.), as there was a tight supply

Small Growers Ask Representation On Tea Board - Sep 19, 2008

Coonoor: The Nilgiris Small Tea Growers' Association has appealed to the Union Commerce Minister, Mr Kamal Nath, to appoint its President on to Tea Board. Tea Growers have reminded the Minister that it had been the practice for the Government to appoint Association's President on the Board. The Association had got nomination even in the erstwhile 'Tea Council' during the British regime

Coonoor Tea Auction Sees Low Offerings - Sep 18, 2008

Coonoor: An analysis of the catalogues of the various auctioneers displays that only 10.15 lakh kg will be offered for Sale No: 38 of the auctions of Coonoor Tea Trade Association to be conducted on Sept 18 and Sept 19. This is the lowest volume in the past 24 weeks. It is one lakh kg lower than the volume presented this time last year.

Fresh arrivals account for 9.40 lakh kg in the offer of 10.15 lakh kg. The balance includes teas remaining unsold in the previous auctions. Of the 10.15 lakh kg on offer, 7.25 lakh kg belong to the leaf grades and 2.90 lakh kg belong to the dust grades. Again, as much as 9.47 lakh kg belong to CTC variety and only 0.68 lakh kg belong to orthodox variety

Pepper Future Sees Volatile Trade, Declin - Sep 18, 2008

Kochi: The pepper futures market saw high volatility on Sept 17 and looking for some direction. All the contracts ended marginally down. September contract fell by Rs 41 a quintal to Rs 12,310 on NCDEX.October and November fell by Rs 57 and Rs 69 a quintal to Rs 12,524 and Rs 12,765 respectively. Total volume fell by 5,863 tonnes to 6,696 tonnes. Total open interest fell by 12 tonnes to 18,735 tonnes.

Spot prices ruled firm at previous levels of Rs 12,600 (un-garbled) and Rs 13,200 (MG 1) a quintal on Sept 17. Prices quoted for different origins were Vietnam 500 GL $2,525 a tonne(fob) and 550 GL at $2,675 a tonne (fob) while V Asta was being offered at $3,025 a tonne (c&f) New York. MG 1 Asta was quoted at$3,025-3,075 a tonne (c&f) NY. Brazil was offering cheap at $2,500 a tonne (fob) for B Asta while B2 and B1 were quoted at $2,200-2,300 and $2,300-2,400 a tonne (fob).Vietnam white pepper (double washed) was quoted at $3,990 at tonne (fob)

Cardamom Rates Increase On Demand - Sep 16, 2008

Kochi: Cardamom prices remained to see an upward swing at the sales held in Kerala and Tamil Nadu during the week on good demand and despite increased supply. The average rates ruled above Rs 600 a kg during last week. The arrivals at the Cardamom Planters Association auction at Bodinayakannur on Sept 15 were at 11 tonnes of which only one tonne was withdrawn. Maximum price was Rs 719.50 and minimum Rs 521 a kg. Average price was at Rs 604.81 a kg. At the Sept 14 auction at Vandanmettu of the KCPMC, arrivals stood at 29 tonnes and the entire quantity was sold out.

The maximum price got Rs 837 a kg and the minimum Rs 250 a kg. A significant portion of the arrivals during the season comprised medium variety i.e., 6.5mm - 7mm and it was getting good price. Local prices at Bodinayakannur were AGEB Rs 680-690, AGB Rs 610-615, AGS Rs 565-570 and RS Rs 535-545. Bulk was fetching Rs 650-800 a kg

Pepper Futures Witnesses Down Trend - Sep 16, 2008

Kochi: Pepper futures saw a sharp decline due to pessimistic activities and as a result, all the contracts fell by Rs 853-903 a quintal on NCDEX, while on NMCE, it was from Rs 863 to Rs 1,073 a quintal. Thus, the September, October and November contracts remained below the spot prices of MG 1 at Rs 13,400 a quintal. The sharp decline at a time when the Indian rupee is weakening against the dollar and the fundamentals are remaining unchanged is affecting the farmers and dealers. Indian parity maintained around $3,000 a tonne (c&f). The spot rates fell by Rs 500 a quintal in tandem with the futures market trend and closed at Rs 12,800 (un-garbled) and Rs 13,400 (MG 1) a quintal. Vietnam has anticipated its production for 2008 as about 90,000-95,000 tonnes.

The global market continued to remain quiet and prices eased with the exception of Lampung. At Daklak, pepper rates for raw material slid down to VND 37,000 a kg from VND 40,000 last week. In Sarawak, local prices stood at MYR 7,960 a tonne through out the week or down by two per cent both local and f.o.b. In Sri Lanka, average rates at producing areas also declined by two per cent

Rubber Sees Weak Trend - Sep 16, 2008

Kottayam: Spot rubber became weak on Sept 15. RSS 4 declined to Rs 140 and Rs 139.75 a kg respectively at Kottayam and Kochi from Rs 141 a kg on the previous weekend. RSS 3 (spot ) increased to Rs 135.43 from Rs 134.45 a kg at Bangkok. Spot rates were (Rs/kg): RSS-4: 140 (141); RSS-5: 137.50 (138); ungraded: 135.50 (136); ISNR 20: 130 (130) and latex 60 per cent: 81 (81).

N. Indian Auction Sees Good Demand For Ctc Teas - Sep 15, 2008

Kolkata: The CTC teas once again conformed to strong demand with larger brokens and dusts tending dearer at times. The major blender was active while there was good support from Tata Tea and other packeteers. Western India purchasers supported the liquoring categories while other internal and local purchasers as well as exporters operated as usual. In the orthodox auction, whole leaf lower while smaller brokens around last. Bolder brokens and fannings were barely firm and occasionally easier. The Mombasa market was easier following quality. Pakistan packers were less forceful, the Egyptian packers lent good support, while UK and Kazakhstan showed good enquiry. Somalia was less active at the lower end of the market

Rubber Sees Steady Trend - Sep 15, 2008

Kottayam: Domestic rubber remained to rule firm in the weekend session. RSS 4 closed unchanged at Rs 141 a kg as on Sept 11. RSS 4 which opened at Rs 141 a kg on Sept 8 ended unchanged consecutively for the 5th day on Sept 13 amidst narrow volumes. Spot rates were (Rs/kg): RSS-4: 141 (141); RSS-5: 138 (138); ungraded: 136 (136); ISNR 20: 130 (130) and latex 60 per cent: 81 (81)

Coonoor Auction Sees Goog Demand For Quality Tea Sep 15, 2008

Coonoor: As many as 20 marks of purchased leaf tea factories got more than Rs 100 a kg for their CTC teas at Sale No: 37. Darmona and Homedale were the only marks that could remain in the Rs 100 price-band in CTC leaf market. In CTC dust market, Kannavarai Estate got Rs 106 for SRD and Rs 100 for SFD grades. Among orthodox teas from corporate sector, Havukal and Chamraj received Rs 142 each, Nonsuch Rs 139, Curzon Rs 136 and Mailoor Rs 134. Quotations conducted by brokers indicated bids ranging from Rs 58-62 a kg for plain leaf grades and Rs 88-92 for the brighter liquoring sorts.

Pepper Future Sees Mixed Trend - Sep 13, 2008

Kochi: Pepper futures market on Sept 12 saw a mixed trend with nearby positions falling and distant positions showing an upward trend. The total turnover fell sharply. Domestic players are keeping away from the falling market, while most of the exporters are not covering due to fear of the quality of the material. On NCDEX, September contract fell by Rs 31 a quintal to Rs 12,532. October and November fell by Rs 36 and Rs 16 to Rs 12,781 and Rs 13,010 a quintal respectively.

Among the other contracts, December fell by Rs 16, while January and February increased by Rs 138 and Rs 70 a quintal respectively. Total turnover on NCDEX declined by 4,356 tonnes to 6,998 tonnes while on NMCE it fell by 401 tonnes to 342 tonnes. Total open interest on NCDEX increased by 290 tonnes to 19,418 tonnes. September open interest declined by 264 tonnes to 4,625 tonnes while that of October and November increased by 496 tonnes and 42 tonnes respectively

CTC Dust Touches Rs 100/Kg At Coimbatore Sales - Sep 13, 2008

Coimbatore: At the Coimbatore tea auction, brokers and producers had reason to cheer, when for the first time, the CTC dust reached the Rs 100-a-kg-mark, creating a record of sorts. Packeteers such as AVT, Tata Tea and Indco, purchasers of loose tea and exporters operating for Pakistan finished actively on the CTC dust grades. Contemporary Tea Auctioneers Pvt Ltd managed to sell Karamalai Royal CTC Tea (NRC) of Peria Karamalai Tea and Produce Co Ltd at Rs 100/kg. Teas moved to Kochi as the Onam demand witnessed signs of pick up. CTC dust price increased by about Rs 20/kg over the past nine months, starting at Rs 70/kg in January

Rubber Sees Steady Trend - Sep 12, 2008

Kottayam: The domestic rubber prices were firm on Sept 11. Traders remained to sideline the market and the inflow of the raw material hit the bottom lines. RSS 4 ended flat at Rs 141 a kg as on Sept 10. According to observers any visible change is hoped only after the Onam holidays. Meanwhile, the trend-setting Japanese rubber futures ended in red reporting slightly losses as it recovered partially on late trading followed by short covering at lower levels. Its spot closed at Rs 133.77 (133.18) a kg at Bangkok. Spot prices were (Rs/kg): RSS-4: 141 (141); RSS-5: 138 (138); ungraded: 136 (136); ISNR 20: 130 (130) and latex 60 per cent: 81 (81)

Pepper Futures Down On Fall In Other Origin Rates - Sep 12, 2008

Kochi: Pepper futures market continued its downward trend on Sept 10 also on pessimistic activities and on reports of prices easing in other origins-Vietnam and Brazil. October and November declined by Rs 139 and Rs 155 a quintal to Rs 12,775 and Rs 13,001 respectively on NCDEX. All the three contracts declined to below the spot price of Rs 13,400 a quintal for MG 1. The fall in other contracts was from Rs 42 to Rs 337 a quintal.

Banks are closed for two days on Sept 11 and Sept 12 on account of Onam and it is also affecting the trade. Total volume increased by 3,585 tonnes to 11,354 tonnes, while total open interest dropped by 410 tonnes to 19,128 tonnes. Open interest for September declined by 868 tonnes, while October and November moved up by 252 tonnes and 229 tonnes. Spot rates ruled firm at prices of Rs 12,800 (un-garbled) and Rs 13,400 (MG 1) a quintal

Coonoor Tea Sales Turnover Increases Rs 97cr - Sep 12, 2008

Coonoor: Producers who sold their teas via the 35 sales held in the eight months of 2008 at the auctions of Coonoor Tea Trade Association (CTTA) have earned Rs 97.28 crore more than in the same period of 2007. In all, 3.43 crore kgs were sold against 2.34 crore kgs. On an average, every kg got Rs 14 more to increase to Rs 59.24. This marked an increase of Rs 97.28 crore or 92 per cent. Earnings rose for both the orthodox and CTC teas. Of the 3.43 crore kgs, CTC teas calculated for 3.20 crore kgs. Prices increased to an average of Rs 59.03 a kg from Rs 44.24. The volume of orthodox teas totalled 2.27 million kgs against 1.98 million kgs last year

Rubber Rates Unaltered - Sep 11, 2008

Kottayam: Rubber prices ended unchanged on Sept 10. RSS 4 closed flat at Rs 141 a kg amidst thin volumes. About 50,000 tonnes of rubber now available with the growers in the State are under various stages of processing. Since the rain continues the sheets cannot be sun dried. Spot rates were (Rs/kg): RSS-4: 141 (141); RSS-5: 138 (138); ungraded: 136 (136); ISNR 20: 130 (130) and latex 60 per cent: 81 (81)

Rubber Sees Steady Trend - Sep 10, 2008

Kottayam: Physical rubber prices ended almost firm on Sept 9. Supply concerns continued to disrupt the trading activities in the main marketing centres but major grades remained flat on strong purchasers resistance. Sheet rubber RSS 4 closed unchanged at Rs 141 a kg as on Sept 8. On the domestic front, the trend was mixed as ungraded rubber and latex improved by 50 paise on scattered transactions. RSS 3 (spot) increased to Rs 133.18 (132.15) a kg at Bangkok. Spot prices were (Rs/kg): RSS-4: 141 (141); RSS-5: 138 (138); ungraded: 136 (135.50); ISNR 20: 130 (130) and Latex 60 per cent: 81 ( 80.50)

Rubber Price Increases - Sep 8, 2008

Kottayam: Physical rubber prices increased on Sept 6. Supply worries remained to put pressure on the purchasers while RSS 4 firmed up to Rs 140.50 from Rs 140 a kg on Sept 5. In the domestic market, sheet rubber RSS 4 lost 50 paise per kg during the week. The trading volumes were low. Spot rates were (Rs/kg): RSS-4: 140.50 (140); RSS-5: 136.50 (136); ungraded: 134 (133); ISNR 20: 130 (130) and latex 60 per cent: 80.50 (80.50)

Rubber Sees Steady Trend - Sep 06 , 2008

Kottayam: Spot rubber prices remained to rule unchanged on Sept 5. Major manufacturers were purchasers on the grade up to the quoted levels and sheet rubber RSS 4 ended flat at Rs 140 a kg as on Sept 4. The grade (spot) increased slightly to Rs 132.97 from Rs.132.32 a kg at Bangkok. Spot prices were (Rs/kg): RSS-4: 140 (140); RSS-5: 136 (136); ungraded: 133 (133); ISNR 20: 130 (130) and latex 60 per cent: 80.50 (80.50)

Pepper Futures Market Decline - Sep 06 , 2008

Kochi: Bear operators downed the pepper futures market on Sept 5. September contract on NCDEX declined by Rs 356 a quintal to Rs 13,585, which is Rs 415 below the spot price for MG 1 of Rs 14,000 a quintal. Even October contract declined below the spot price by Rs 336 a quintal to Rs 13,880. November contact fell by Rs 314 to Rs 14,130. On NMCE, September contract fell by Rs 421 a quintal to Rs 13,617. The decline in other contracts was from Rs 308 to Rs 365 a quintal. Total turnover on NCDEX fell by 4,876 tonnes to 7,965 tonnes, while total open interest increased by 248 tonnes to 20,319 tonnes

Tea Rates Increase In World Sales - Sep 05 , 2008

Coonoor: Teas sold via all auction centres across the globe, except Malawi's Limbe, have got higher prices in the first half of calendar 2008 over the corresponding period of 2007, an analysis of Market Reports and information available with Tea Board reveals. Indonesian teas at Jakarta sales got the highest increase of 44.12 per cent to average $1.47 a kg. Kenyan teas at Mombassa auctions registered the next highest increase of 35.58 per cent, to rule at $2.21 a k g. Sri Lankan teas at Colombo auctions increased 32.46 per cent to average $3.02. Bangladesh teas at Chittagong auctions got 28.70 per cent more to rule $1.48. Indian teas at the eight auction centres registered an increase of 19.21 per cent to rule $1.80.

Rubber Market Sees Steady Trend - Sep 05 , 2008

Kottayam: Rubber market ruled firm on Sept 4. RSS 4 ended unchanged at Rs 140 a kg consecutively for the third day on purchaser resistance. Major manufacturers were purchasers on sheet rubber up to Rs 140 a kg but they were unwilling to enhance their quotes further though the leading global indices finished higher on late trading. The grade's spot ended firm at Rs 132.32 (132.17) a kg at Bangkok. Spot prices were (Rs/kg): RSS-4: 140 (140); RSS-5: 136 (136); ungraded: 133 (133); ISNR 20: 130 (130) and latex 60 per cent: 80.50 (80.50).

Pepper Futures Market Continues Decline - Sep 05, 2008

Kochi: Pepper futures market continued to fall on pessimistic activities and lack of demand. September contract fell by Rs 41 a quintal to Rs 13,920, much below the spot price of Rs 14,200 a quintal for MG 1. October and November fell by Rs 40 and Rs 42 a quintal to Rs 14,203 and Rs 14,442 respectively. Total volume on NCDEX increased by 175 tonnes to 3,089 tonnes, while total open interest also increased by 260 tonnes to 20,071 tonnes. Spot prices maintained at previous levels of Rs 13,600 and Rs 14,200 (MG 1) a quintal.

Coimbatore Auction Sees Good Demand - Sep 04 , 2008

Coimbatore: The total offerings of tea at the weekly auction held here on Sept 4 totaled to 4.70 lakh kg with leaf grades accounting for 2 lakh kg and the balance 2.70 lakh kg of dust. Well made Nilgiri larger leaf and brokens continued firm, fannings quoted lower by Re 1-Rs 2. CTC leaf saw only fair demand. Best sorts were quoting lower, medium bolder grades ruled firm and the remaining teas were lower by up to Rs 2/ kg. HUL was absent, Tata silent, internal demand limited and exporters operated only on bolder grades.

India Is Likely To Import Additional Cooking Oil - Sep 04 , 2008

India is likely to import additional cooking oil in the year starting November as dry weather reduced monsoon sowing of peanuts, sunflower and sesame seeds. India is the world's biggest buyer of vegetable oils after China. Purchases may go up by at least 500,000 metric tonnes from 5.1 million tonnes this crop year ending October 31, said Govindlal G Patel, director of Dipak Enterprises, in an interview. Patel, 69, has been trading the commodity for more than four decades.

India imports more than 85 per cent of its edible oil in the form of palm oil for use in curries and fried foods. Prices of palm oil have tumbled 44 per cent from a March record of 4,486 ringgit ($1,303) a tonne, cutting import costs for the country that's battling the fastest inflation in 16 years. Spiralling food prices have caused Prime Minister Manmohan Singh's Congress party to lose ground in nine of 11 state polls since January 2007. Singh faces elections in six more states this year and a national election by May 2009. Farmers planted peanuts on 5.03 million hectares, 2.3 per cent less from a year ago as of August 28, the farm ministry said. The area for sunflower seeds fell by 30 per cent to 495,000 hectares, and for sesame by 9 per cent to 1.36 million hectares. The seeds yield more oil when crushed than soybeans

Rubber Sees Weak Trend - Sep 04 , 2008

Kottayam: Physical rubber rates turned weak on Sept 2. RSS 4 fell to Rs 140 from Rs 141 a kg on buyer resistance. The volumes remained to be low as there were no quantity sellers or purchasers in the main marketing centres. Most of the players seemed to be hoping an improvement in arrivals towards mid September. RSS 3 spot increased further to Rs 132.79 (131.81) a kg at Bangkok. Spot prices were (Rs/kg): RSS-4: 140 (141); RSS-5: 136.50 (138); ungraded: 132.50 (133); ISNR 20: 130 (132) and latex 60 per cent: 80.50 (81.50).

Silver Drifts Lower In Delhi - 3 Sep 08

Silver is trading with losses in the local cash markets today. In International, the spot price of Silver , inclusive of Customs Duty, exclusive of local Sales Tax/VAT, not less than 999 fineness is Rs 19495.6per kg, recording a fall of Rs 513.20 or 2.56 percent over the previous closing

NCDEX Soybeans End Mixed, Heavy Selling In Benchmark Futures - 3 Sep 08

Soybeans ended almost unaltered after a sharp pullback in the early moves following global cues with the expectations of a strong demand in near term ensuing the buyers emerge in the later half of the day.

Earlier in the day, Soybeans drifted sharply lower today, eying major fall in the CBOT futures in electronic trades as the heavy fall in the crude oil prices hurt sentiments in global commodities spectrum.

NCDEX Soybeans also slid sharply lower.. The counter opened lower at Rs 2551 per quintal and slumped to Rs 2531 per quintal. The counter closed at Rs 2570.50 – at the previous closing price only.

However, the benchmark October contract ended down Rs 37.50 at Rs 2145 with a heavy increase of 7.40% in the open interest indicating that traders are pricing in the arrivals to start somewhat early this year.

Gold Hammered Below $800 As Commodities Melt - 3 Sep 08

Commodity prices melted for a second successive day today and Gold was hurt badly. The Gold futures slumped under $800 mark yet again as the traders began to wonder whether the losing ways in Gold keep the sustained downtrend well and truly intact and 1000+ levels indeed marked a long term top in place for the yellow metal. The fact that the combination of falling commodity prices tend to provide support to the equities market, may act against Gold in near term as it fails to provide any connivance yield as an asset class.

The current retreat in Gold was no surprise given the across the board slide in the major commodities like crude oil, copper and agri counters like Corn and Soybeans. Crude oil plummeted to $105.46 in intraday moves and made the world realize and that we might be closing in on $100, a levels so very crucial, that if broken convincingly, it may bring an end to the commodity prices story of the last one year.

The US dollar continued its awesome form to hit below 1.4500 levels against Euro today, extending a rally into the week that marks the release of Non farm payrolls on Friday. The current rally in the US dollar is being fueled by the one of the Nikkei newspaper scoop last week that European, Japanese and U.S. officials in mid-March drew up plans to strengthen the U.S. currency following troubles at Bear Stearns Cos.

The alleged news is out now and is playing a crucial role in extending the rally of the US currency that has strengthened sharply since the first week of August. The Olympics marked a critical turning point for the currency and an 11% appreciation since the all time low levels is auguring well for the greenback as latest reports suggest that the other major economies in the world are experiencing sharp economic contraction.

The global macroeconomic slowdown extended further in last few days with Euro zone clearly displaying signs of entering into recession as German GDP growth plummeted for first time in almost four years. Japan, the second largest economy in the world also contracted for the first time in four quarters in the second quarter ended in June as the key growth drivers of exports, private consumption and capital investments lost momentum.

COMEX Gold extended its losses today as the benchmark December futures slumped to a low of $798.20, dropping almost $30 in intraday moves. The counter currently trades near the same level. MCX Gold futures for October lost nearly Rs 300 in intraday moves and currently trade down Rs 256 at Rs 11543 per 10 grams.

Ban On Rubber Futures May Be Extended - Sept 02, 2008

New Delhi: India may extend a ban on futures trading in rubber for another four months because of a sharp rise in spot prices, the Business Standard newspaper reported on Tuesday, citing unidentified market sources.

The government had suspended futures trading in rubber, soyoil, potato and chickpea in May for four months, under pressure from its allies to control soaring inflation.

Despite the ban, rubber prices have gone up by 22 rupees ($0.5) per kg in the past 15 weeks, the newspaper said, with spot prices of benchmark RSS-4 at 140 rupees a kg on Monday, off a record 142 last week.

Food Grade Hexane Prices Cut - Sept 02, 2008

Mumbai: Hindustan Petroleum Corporation and Bharat Petroleum Corporation have reduced prices of food grade hexane, which is used for processing oilseeds, oilcakes and rice bran, by about Rs 6,000 a kilolitre (kl). The new prices will be effective from Monday.

“Indian Oil Corporation is also considering a price cut and is expected to announce it in a day or two,” said a press release from the Solvent Extractors’ Association of India (SEAI).

B.V. Mehta, Executive Director, SEAI, said the processing cost for a tonne of edible oil which was about Rs 700-800 will now come down by Rs 30 due to reduction in hexane prices.

Food grade hexane prices increased 70 per cent to Rs 56,000 a kl from Rs 33,000 a kl in July last year.

Processing cost

The move had increased the processing cost by Rs 200-300 a tonne and had direct impact on edible oil price and inflation, the SEAI said.

The Association had represented to the Government and petroleum companies that the high prices have discouraged the processing of oilcakes and rice bran for producing vegetable oils which is already in short supply.

GCC To Intensify Coffee Biz Operations - Sept 02, 2008

Visakhapatnam: The Girijan Co-operative Corporation (GCC) here, which has taken up coffee procurement, processing and sale since last year, is planning to intensify its operations and make its presence felt in the market, according to S. Adinarayana, General Manager (Marketing).

He said here on Monday that the GCC had procured coffee seeds from the tribal farmers in the 11 mandals in Visakhapatnam district and parts of East Godavari district and sold the coffee in the international market under the Anantagiri brand. On a pilot basis, the GCC had procured 300 quintals of coffee seeds and initially, the corporation had to pay Rs 30 a kg and increase the price to Rs 80-90 a kg towards the end of the season.

However, the response to the coffee from the area was very good in the market, as it could be sold as organic coffee.

“The farmers in the area use no chemical fertilisers or pesticides and therefore, the coffee is lapped up as organic coffee. We want to encourage that sort of cultivation,” he explained.

He said the GCC would purchase at least 1,000 quintals of coffee from tribal farmers this year and the processing facilities would also be improved this year.

He said the GCC was also encouraging more tribal farmers to take up coffee cultivation by arranging loans and other inputs.

“Coffee cultivation is being encouraged by the Union Government, the State Government, the Coffee Board and the GCC will also do its bit,” he added.

Rubber Sees Weak Trend - Sep 01 , 2008

Kottayam: The domestic rubber rates turned weak on Aug30. The market is falling consecutively for the third time after touching the historic high of Rs 142 a kg as there has been some increase in arrivals even in the village markets which in turn seemed to be putting pressure on the prices. Sheet rubber RSS 4 fell to Rs 141 from Rs 142 a kg on purchasers resistance. Spot prices were (Rs/kg): RSS-4: 141 (142); RSS-5: 138 (139); ungraded: 133 (134); ISNR 20: 132 (132.50) and latex 60 per cent: 81.50 (81.50).