Northwest and central India is the important Cotton growing region
of India. Government of India alarmed about lack of rainfall in 6 cotton
growing states include Gujrat, Maharashtra, Rajasthan, Punjab, Harayana, and
Karnataka. According to report, Gujrat the no. one cotton growing state of
India, only 35% of land sown till date and if Mansoon fails in August, Crop
production condition will be sever.
Union Agriculture Minister Sharad Pawar saying that, Government
will take a look at unrestricted export of Cotton, Wheat and other crop in
August if Mansoon fails.
At NCDEX Cotton seed Oil cake Akola trading down today, contract
of 17 AUG 2012 expiry date traded at 1641.00 Rs show change of -2.61%.
Turmeric Future index edge may higher on Monday, At NCDEX turmeric
17 Aug 2012 traded at 6118.00 Rs change 3.27%. Exports demand pushes up NCDEX castor
seed.
MCX crude oil futures in MCX fell on Monday due to weak export
demand along with higher production concerns in next crop year. Crude oil 20
Aug 2012 traded at 5,025.00 changes at -1.34%.
A divergent trend seen in bullion market, Gold 04 Aug 2012 gain 0.20%
traded at 29,336.00Rs while silver 05 Sep 2012 slips -0.25% traded at 52,712Rs due
to poor demand. Silver Coins also declined by Rs 1000 to Rs 61000 for buying
and Rs 62000 for selling of 1000 pieces.
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