Kapas may remain range bound in domestic market: Sharekhan

Apr 09, 2013, 02.24 PM IST

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Kapas may remain range bound in domestic market: Sharekhan

Sharekhan has come out with its report on agri commodities. According to the research firm, Kapas (Cotton) prices are expected to remain range bound in the domestic market.

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Kapas may remain range bound in domestic market: Sharekhan

Sharekhan has come out with its report on agri commodities. According to the research firm, Kapas (Cotton) prices are expected to remain range bound in the domestic market.

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Sharekhan has come out with its report on agri commodities. According to the research firm, Kapas (Cotton) prices are expected to remain range bound in the domestic market.

Kapas (Cotton)

• Cotton prices noticed steady tone.
• Cotton also witnessed flat tone in spot market on dull trading activities.
• Bloomberg expect lower acreage under cotton in coming season on lower water availability in the growing regions.
• India exports 13 lakh bales in March,2013 and China accounts for 3.66 lakh bales while Bangladesh accounts for 3.51 lakh bales. Meanwhile, imports stood at 0.5 lakh bales.

Outlook: Prices may remain range bound in the domestic market.

Sugar & Gur

• Both sugar and gur witnessed weak tone by taking cues from International markets.
• Recent downfall in prices is on the commencement of sugarcane harvesting in Brazil 2013-14.
• Australian raw sugar output is likely to surge by 9 percent to 4.68million tones as compared with last year-Rabobank.

Outlook: For intraday sell sugar but prices are likely to trade firm in near short-term.

Turmeric

• Turmeric traded flat in Nizamabad, while it was firm at future market on fresh orders from north India.
• Good quality new crop and comfortable stock position in domestic markets may weigh on the prices during short-term.

Cardamom

• Cardamom market witnessed weak tone on profit-booking.
• The market may witness further profit booking on these levels due to adequate stock position.
• Total arrivals and sales during the current season from Aug 1, 2012 to March 27 were at 10,146 tonnes (15,385 tonnes) and 9,645 (14,922 tonnes).

Chilli

• Future market remains weak on lower arrivals.
• At Guntur cold storage teza seed variety quoted at Rs 7500-7800 per quintal, Indo-5 at Rs 6,200-6,700 per quintal and 334 quality at Rs 5600-5900 a quintal.
• Prices are likely to remain range-bound in this month on new crop arrivals.

Coriander

• Both, future and spot market witnessed firm tone as at lower prices levels farmers are not releasing the crop.
• Coriander output estimated at 45 lakh bags in the major producing states Rajasthan and Madhya Pradesh, while carry forward stocks pegged at 20 lakh bags.
• Coriander Badami loose new quoted at Rs. 5800 per quintal, eagle loose at Rs.6200 per quintal and new scooter variety quoted at Rs. 7,000 per quintal in Kota.

Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

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