Selling Persist In Spices And Oilseeds Market

Profit taking was seen in across all agri commodities on the back of recovery in local supplies coupled with limited demand at current levels. All the major counters such as spices, oilseeds and guar complex were settled with heavy losses.

The NCDEX Chana futures settled flat as prices were guided by bullish moves in both Urad and Tur in local mandies. The daily arrivals were also reported at 20 motors today. On the other side, selling was seen in oilseeds market as prices declined by more than 0.50 percent today due to bearish nodes from international market along with sowing trend of soyabean crop so far in the current year. Traders are expecting higher soaybean crop this year owing to better climate condition in major soayeban growing states.

Weakness was seen in jeera market due to fragile export at elevated levels. The NCDEX August futures declined by 0.68 percent today. The prices have been declined by almost 2 percent from its peak. While limited trading was seen in turmeric market as prices were hovering around last close to settle with marginal losses.