Informist, Tuesday, Oct 19, 2021
By Kavita Desai
MUMBAI – Futures contracts of spices ended lower on domestic exchanges today. Chilli market in Guntur was shut due to public holiday, said market participants.
* JEERA contracts on the National Commodity and Derivatives Exchange ended lower due to higher arrivals in the market.
* However, improved demand from local stockists ahead of Diwali limited the downside, said Mahesh Yadav, a trader in Unjha, Gujarat.
* TURMERIC and CORIANDER contracts ended lower due to profit booking. Slight increase in demand ahead of festival season limited the fall, said traders.
* Prices of CHILLI in Guntur, a key wholesale market in Andhra Pradesh, were unavailable today as the market is shut on account of Eid-e-Milad. The market will resume trading on Wednesday, said traders.
* On Monday, the Teja variety was sold at 14,200-14,300 rupees per 100 kg and the LCA-334 variety at 11,200-11,300 rupees.
* Prices are likely to move in a thin range with a positive bias as buying from Bangladesh and Bihar has improved ahead of Diwali, said Satish Degala, a trader in Guntur.
Following are the prices of the most active contracts of spices at 1700 IST:
* Following are the expected support and resistance levels for contracts of spices for trade on Wednesday:
End
IST, or Indian Standard Time, is five-and-a-half hours ahead of GMT
Edited by Maheswaran Parameswaran
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Source: Cogencis
