Date:27/03/2006 URL: http://www.thehindubusinessline.com/2006/03/27/stories/2006032700110700.htm

Back Speculative buying could make chilli hot

Dhimant Bhatt

Mumbai , March 26

Chilli futures may rule firm this week on speculative buying and reduced offerings by stockists, despite reports of increased inflows in Andhra Pradesh.On MCX, chilli (LCA-334-pala) April 2006 contracts traded at Rs 3,588a quintal (ex-Guntur) on Saturday, up Rs 100. On NCDEX, Aprilcontacts were also traded higher at Rs 3,808 a quintal (ex-Guntur) on continued buying support.Spot prices at Guntur mandi (Andhra Pradesh) were quoted higher around Rs 3,250-3,400 a quintal up Rs 300, on continued local buyinginterest amid steady inflows. Inflows are expected to increase further inthe next few days.

Urad

Urad futures prices may rule firm on sustained buying support from punters and stockists supported by reports of delayed shipments from Burma.On MCX and NCDEX, urad April contracts prices touched a high of Rs 3,400-level on continued buying support. April contracts were traded at Rs 3,264 a quintal on MCX and Rs 3,269 a quintal at NCDEX.Spot prices at Mumbai market were up Rs 200 at Rs 3290 a quintal oncontinued buying. Prices may rule higher on reports that landed costof imported urad from Burma has gone up by about $65-70 a tonne.