Selling Persists In Spices And Oilseeds Market

Profit taking was seen in across all agri commodities on the back of a likely recovery in local supplies coupled with limited demand at current levels. All the major counters such as spices and oilseeds complex settled with 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 reported at 20 motors today in Delhi. On the other side, selling was seen in oilseeds market as prices declined 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 climatic conditions 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% today. The prices have declined by almost 2% from peak. While limited trading was seen in turmeric market as prices were hovering around last close to settle with marginal losses.