Increased
price of soyabean, soya oil, rapeseed, Mustard seed, Chana and potato alarmed
Forward market commission (FMC) of India. FMC initiates a step to check and
prevent speculation in Agri commodities.FMC keeping eye on price movement of
five AGRI commodities.
Source
said the price of five Agri commodities have been raising in last few months on
account of supportive fundamentals in domestic and international markets. On March
2012 FMC has banned future trading of Guar, gum and guar seed to hold price
rise. Prices of guar seed have been rising since November and had gain 500%
excess in March 2012.
Government
officials concede that there is some pressure on pulses such as tuar and moong but
overall situation is not critical, stocks of wheat and rice are comfortable.
At
NCDEX, Chana 17-AUG-2012 expiry date last trading price Rs 4746.00 with 0.94%
gain, Soyabean of 19-OCT-2012 expiry date contract traded at Rs 3958.00 with
1.44% gain, Potato 17-AUG -2012, trades at 1246.00 with -1.06
loss, Refined soya oil 20-SEP-2012 contract traded on Rs 802.00 with 0.25%
gain, Rapeseed-Mustard seed 17-AUG -2012 contract traded at Rs 4631.00 with
0.47% gain.
Gold prices witnessed great fluctuation during this month. Amid a
weakening trend overseas, gold prices fell marginally by Rs 77 to Rs
29,212 per 10 grams in futures trade on Wednesday as speculators trimmed
positions.
At the Multi Commodity
Exchange, gold for delivery in August traded marginally lower by Rs 77, or
0.26 per cent, to Rs 29,212 per 10 grams, with a business turnover of
3,358 lots.
At MCX Base metals copper, Nickel, and zinc downs slightly. Copper
31 AUG 2012 traded at
Rs
424.35 with 0.21% loss, Nickel 31 JUL 2012 traded at 893.40 with 0.09% loss, Zinc
31 JUL 2012 traded at 103.55 with 0.24%
loss.
Crude
oil prices are expected to remain bullish in near future, analyst said MCX
crude will have an upward trend in July. At MCX crude 19 JUL 2012 contract
traded at Rs 4913.00 shows 1.93% gain.
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