Almond California up on stock shortage

NEWS DIGEST

In an otherwise steady dry fruit market, prices of almond california and its kernel went up largely on paucity of ready stocks coupled with restricted arrivals, closed with fresh gains.

The volume of business was restricted. Traders said holding back of stocks by importers amid poor arrivals from producing countries mainly attributed rise in almond prices.

Almond California prices quoted higher at Rs 10,800 a 40 kg bag on poor demand. Its kernel followed suit and dearer at Rs 386-387 a kg. Almond (Gurbandi) quoted Rs 6,100 per 40 kg, almond (Girdhi) Rs 4,200.

Indian crude oil basket eases to $64.21

India's crude oil basket on Friday eased to $64.21 per barrel from $64.60 a day earlier in line with the softening prices overseas, data released by the petroleum and natural gas ministry said.

The basket had touched a record high at $64.63 last Monday. May crude oil futures on the New York Mercantile Exchange Friday declined by $0.55 a barrel to close at $67.39.

The Indian crude basket comprises Oman-Dubai sour grade of crude and Brent dated sweet crude in a 58:42 ratio. Brent crude closed at $67.35 a barrel, while the Dubai and Oman benchmarks were at $61.40 and $62.98, respectively, the data released on Monday said. (CMW)

Mixed trend in tea prices

Tea prices persisted with mixed trend in the Coimbatore auction held last week, with leaf, supported with fair enquiry moving up by Rs 2-3, while dust ruling easier by Re 1 to Rs 2 per kg.

Supported by selective enquiry from exporters, prices of well-made larger orthodox teas remained firm, while brighter liquoring CTC bolder grades leaf teas witnessed better demand, quoting Rs 2-3 higher compared to the previous level, industry sources said on Monday.

The primary orthodox dust grades remained level, while secondary types were lower by Rs 2-3, whereas better liquoring CTC dusts and better medium ruled barely steady,as others saw support at easier level by Re 1 to Rs 2. (CMW)

Southern freight rate dips further

Freight rates for the 9 metric tonne pay load section for select southern regions dropped further on the local truck transport market on Monday on excess availability of trucks against insufficient cargo movements.

Elsewhere, rates for other destinations remain unchanged in limited deals. Transporters said easy availability of lorries against scattered cargo movements mainly pulled down southern region freight rates.

Delhi to Kochi, Chennai and Coimbatore freights lost by Rs 500 at Rs 35,500, Rs 32,500 and Rs 34,500 respectively on better availability of trucks.