Agri Market Update

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Jeera trading range for the day is 17350-17790.Jeera prices ended with losses on profit booking after prices gained due to weak supplies position amid good demand from exporters.Expectation of increase in Jeera area in Gujarat state mainly in Saurashtra and Kutch zone current year also weighed on prices.As per Gujarat Govt. sowing data current year Jeera sowing completed around 256800 hectares.In Unjha, a key spot market in Gujarat, jeera edged up by 29.35 rupees to end at 18577.1 rupee per 100 kg. 

Turmeric trading range for the day is 6508-7016.Turmeric prices gained on anticipation of rising physical as well as export demand at the spot market.Turmeric output is seen higher at 7 million bags thanks to higher sowing and favorable weather conditions.Turmeric acreage in Telangana and Andhra Pradesh was higher this year as compared last year.In Nizamabad, a major spot market in AP, the price ended at 7300 rupees gained 75 rupees. 

Soyabean trading range for the day is 3131-3235.Soyabean prices dropped on profit booking after prices gained on concerns over excessive rains hitting Argentinas soybean crop.However, an increase of 60 percent in production is estimated in the 2016-17 season compared to previous year.NCDEX accredited warehouses soyabean stocks gained by 1938 tonnes to 160185 tonnes.At the Indore spot market in top producer MP, soybean gained 15 rupee to 3146 rupee per 100 kgs.
Menthaoil trading range for the day is 1012.7-1029.1.Mentha oil spot at Sambhal closed at 1124.50 per 1kg. Spot prices is down by Rs.-0.20-.Mentha oil prices ended with gains amid rising demand at spot marketFurther, tight stocks position on restricted supplies from major producing belts of Chandausi in Uttar Pradesh, too supported mentha oil prices.At Sambhal market arrivals were reported at 50 Drums(1-drum=180kg), lower by 10 Drums(1-drum=180kg) as compared to previous day.

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