Chilli Futures Hit Lower Circuit

Mumbai: Chilli hit the lower circuit of 4 per cent at Rs 3,937 per quintal due to increase in arrivals at the Guntur spot markets.

Turmeric plunged 3.69 per cent at Rs 3,183 per quintal on long liquidation after the heavy rally.

Chana too hit the lower circuit at 3.99 per cent at Rs 2,812 per quintal as spot markets remained weak on robust arrivals.

Taking cues from weak international markets, RM seed fell 3.43 per cent at Rs 606 per 20 kg. Guar seed tumbled by 3.41 per cent to Rs 1,900 per quintal on panic selling after European Union reportedly laid down new measures on guargum exported from India.

Tracking the firm spot market in Jaipur, barley futures gained marginally to Rs. 1,086 per quintal.

On MCX, mentha ended was down 1.74 per cent at Rs 445 per 20 kg, while potato lost 0.74 per cent to Rs 589 per quintal. While menthe fell on long liquidation, potato prices dipped on increase in arrivals and lack of buying from stockists.

MCX recorded a turnover of Rs 6,780 crore up to 5 pm on Wednesday, while it was Rs 3,473 in NCDEX.

Lower Volumes On Offer At Coonoor Tea Auctions

Coonoor: An analysis of the catalogues of the brokers indicates that the volume being offered for sale No: 8 of the auctions of the Coonoor Tea Trade Association (CTTA) here on Thursday and Friday is as much as one lakh kg lower than last week’s offer. At current prices, this means a fall in total value by around Rs 52 lakh. Run-up to Budget 2008-09

The volume totals 8.50 lakh kg. Last year, Sale No: 8 was postponed due to the uncertainty over the implementation of VAT. The offer was 8.07 lakh kg. The following week, it was merged with Sale No: 9.

Fresh arrivals total 7.55 lakh kg out of the 8.50 lakh kg. The balance consists of the teas remaining unsold from previous auctions.

Of the 8.5 lakh kg, as much as 5.93 lakh kg belong to the leaf grades and 2.57 lakh kg belong to the dust grades. Again, as much as 7.86 lakh kg belong to CTC variety and only 0.64 lakh kg, orthodox variety.