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  • End Session Commentary - Detailed News

Agri Commodities Review: Recovery Seen In Chana And Mustard seed
26-Feb-19   18:09 Hrs IST

Recovery was seen in chana and mustard seed commodities after sharp selloff in previous trading sessions. However, weakness was seen in soya oil and guar seed counters due to supply pressure in local mandies. In today's trading, the NCDEX chana futures added 0.06 percent due to possible decline in chana production. As per market sources, India's chana output in 2018-19 (Jul-Jun) is likely to decline sharply to 8.53 million tonnes on the account of sharp decline in acreage. According to data by the farm ministry, the area under chana was down 10.1% on year at 9.65 mln ha as of last week due to weak acreage in Rajasthan and Madhya Pradesh. Strong buying interest was also seen in mustard seed and jeera counters in today's trading as most of the speculators are expecting recovery in exports demand in the current season. The NCDEX Mustard seed April settled at Rs 3870 per quintal, up 0.16 percent from last close. On the other side, selling was seen in soyabean market as prices declined today due to bearish nodes from international market along with weak demand by domestic millers.

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