24 AUG 2015 :-
Chana kept trading with high
volatility last week as the initial uptrend from rising demand was followed by
profit booking at the higher levels. Reports of further imports too kept
pressure on the rising rates. Falling stocks and rising domestic demand would
likely support the prices in coming weeks. Availability of chana is falling in
Jalgaon, Gulbarga and Akola apart from Rajasthan, MP and Maharashtra. As per
traders, fall in stocks is seen gradually and moreover, there is much time for
new crop arrival. Daal mills demand is also likely to increase in coming days.
Mentha Oil continued to find
some strong support last week as demand started rising in the mandis . The
downtrend may be limited as rising demand amidst lower arrivals supported the
prices. Sources indicate rates have fallen to low levels over last few weeks
and further fall may be limited as domestic and export demand rise.
JEERA : -As per the
Agriculture Ministry, around 2.14 lakh ha crop has been damaged in Rajasthan,
while 9,000 ha was damaged in Gujarat. In Gujarat, the total acreage is down
42% to 2.64 lakh ha compared to 4.54 lakh ha in 13-14. Jeera lost ground to coriander,
fennel and fenugreek seed on comparatively lesser profit realisation in jeera
during the last 2 years.
GUARSEED : -Fall in exports
in April-June 2015-16 estimated at 61,821 tonnes vs 1.18 lakh tons same period
last year—a fall of 48% have been noted, as per Govt reports. In 2014-15, guar
production is estimated at around 20-22 lakh tonnes, as per Ministry of
Agriculture, down 18-20% vs last year production of 25-27 lakh tonnes. With
India exporting to European countries, the present financial crisis in Greece
may adversely affect export demand from some European nations.
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