Date:08/05/2008 URL: http://www.thehindubusinessline.com/2008/05/08/stories/2008050850591500.htm

Back Turmeric futures hit upper circuit

Our Bureau

Mumbai, May 7 Turmeric futures in NCDEX hit the upper circuit of 4 per cent at Rs 3,339 a quintal on the back of strong export demand and lower domestic production estimate in the current season.

Castorseed and soya oil were up marginally at 0.72 per cent and 0.58 per cent at Rs 514 for 20 kg and Rs 583 for 20 kg, respectively. Being lower arrivals in major mandis, castorseed futures was buoyed by depreciating value of rupee against dollar, a positive development for exporters. Soya oil tracked the firm international crude oil prices.

Chilli declines

After gaining for the last two days, chilli for June delivery in NCDEX fell 1.87 per cent to Rs 5,103 per quintal on profit booking. Lack of buying interest at higher levels, pushed pepper futures down 0.67 per cent to Rs 14,151 per quintal.

Opening on a shaky note, jeera ended down 1.77 per cent to Rs 10,965 per quintal on profit taking after the recent rally. Guar seed shed 0.88 per cent to Rs 1,797 per quintal on reports of scattered rainfall in Rajasthan and prediction of early monsoon.

In MCX, cardamom dipped 1.65 per cent to Rs 627 per kg, while mentha oil gained 1.07 per cent to Rs 453 per kg on long liquidation.

MCX recorded a turnover of Rs 4,184 crore up to 5 pm, while it was Rs 1,829 crore in NCDEX on Wednesday.