MMTC to import 1,000 tonne each of moong, tur

NEWS DIGEST

MMTC will import 1,000 tonne each of tur and moong, an industry official said today. The state-run trading house had issued tender for import of 15,000 tonne pulses late last month.

The official said MMTC will buy moong from its Singapore-based subsidiary MTPL at $630 a tonne, and tur from Dubai-based Agricommodities at $412 a tonne.

MMTC has decided to buy only 2,000 tonne of the 15,000 tonne originally asked for as the "market is volatile and we did not want to take much risk," a company official said.

The entire quantity of pulses contracted for import will be delivered to MMTC in February. The agency had received three bids in its tender to import 15,000 tonne pulses. MTPL had offered 5,000 tonne tur at $405-446 per tonne, cost and freight, 5,000 tonne urad at $697-700 a tonne and 5,000 tonne moong at about $670 a tonne.

Gur closes quiet in thin trade

Steady conditions prevailed on the wholesale gur (jaggery) market today following restricted supply against sporadic demand. Marketmen said absence of any worthwhile deals against sufficient stocks position mainly kept prices at overnight levels.

Chilli spot prices firm on good demand, low arrivals

Spot chilli prices across main markets in India are seen firm next seven days due to good demand and low arrivals, dealers said. March contract on National Commodity and Derivatives Exchange is also seen firm reflecting trends in cash markets, they said. At 2:10PM, March chilli on NCDEX was at Rs 4,329 per 10 gm, up 2.7% from close Monday.

"The week has started on a positive note, as demand has been good ahead of Pongal on January 14," Naresh Sharma, proprietor of Guntur-based Mirnal Exports, said. A dealer in Guntur said prices could remain firm in the week ahead due to disparity between demand and supply. "While demand is good, supply is a serious constraint," he said.

Cotton prices remain firm

Cotton lint prices ruled firm during the last fortnight of 2006, but showed signs of easing slightly as the year came to a close, according to the South India Cotton Association (SICA).

The seed cotton arrivals were estimated to be around 1.50 lakh bales per day and Global production of extra long staple (ELS) cotton was estimated to increase by 24 per cent to seven lakh tonne during 2006-07, against 5.63 lakh tonne in 2005-06, SICA, in its market report, for the period, said.

Prices remained steady, with marginal movement, in Punjab, Haryana and Rajasthan, where Bengal Deshi variety quoting at Rs1375 to Rs 1500 and J-34 Saw ginned at Rs 1600 to Rs 1760 per maund spot.

Shankar-6 ruled at Rs 17,700 to Rs 18,300 and V-797 at Rs 12,800 to Rs 13,300 per candy spot in Gujarat, while Mech1 and H4 ruled at rs.16,600 to Rs 18,200 per candy and DCH at Rs 29,000 to Rs 30,000 for 34mm plus in Madhya Pradesh.

Price levels ranged at Rs 16,700 to Rs 18,200 per candy, depending on staple of 28mm to 31mm in Maharashtra, whereas MCU-5 ruled between Rs 18,000 and Rs 19,500 per candy spot in Andhra Pradesh.

Prices ruled steady in Karnataka, where DCH-32 quoted between Rs 28,000 and rs.30,000 per candy and Jayadhar at Rs 14,200 to Rs 14,400, SICA said.