Saturday, 16 April 2011

Spices complex ends quite weak, turmeric hits 4pc lower circuit

Spices complex closed bearish towards the ending session on National Commodity and Derivatives Exchange (NCDEX) Friday. Enough supplies to the market along with some un-interest for buying prevailing in stockists and traders took the prices of red chilli, turmeric and cumin seed down in spot that in turn affected the futures. Black pepper witnessed profit-booking tendencies at the end.
Turmeric: Turmeric futures May contract hit four per cent lower circuit ending at Rs 9,834, receding by Rs 372 and fluctuating between 8,966 and 9,338 a quintal. Volume so far recorded at 5,020 tons. Open interest in April stood at 12,285 lots in Nizamabad.
Black Pepper: Black pepper May futures closed down at 26,990 a quintal, losing Rs 30 marking the last budging range of the day as Rs 27,195-26,802 a quintal. Volume stood at 8,680 tons. Open interest in March stood at 10,512 lots in Kochi.
Cumin seed: Cumin seed futures most traded May contract lost Rs 231 or 1.4% a quintal at Rs 15,570 and traded in the range of Rs 15,879-15,521 a quintal. Volume stood at 9,765. Open interest for the April contract was 20,142 lots in Unjha.
Red Chilli: Red chilli June futures hitting three per cent lower circuit plunged by Rs 402 or 3.8% at Rs 10,090 and traded in the range of Rs 10,492-10,074 a quintal. Volume of the contract was 11,285 tons. Open interest in April stood at 13,745 lots in Guntur.

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