The NCDEX spot price trend for jeera is expected to remain bearish on poor domestic demand. In jeera NCDEX lack of active buying at NCDEX spot market is observed and may pull the prices. NCDEX report for Pepper is of uptrend on emergence of fresh buying at lower levels this trend is going to continue at NCDEX spot.
The soy oil at NCDEX might again come back in bearish trend as the higher supplies of the edible oils across the globe as per the USDA report is expected to have negative impact. NCDEX spot price for chana fell as speculators booked profits at high levels, driven by a sluggish spot demand, increased arrivals from producing belts also led to fall in Chana prices. Cardamom is projected to trade slightly positive. The NCDEX levels of fresh buying at lower level is likely to support the prices. Export inquiries from Gulf amid upcoming festive season might support the prices. We expect guar seed and gum to retain its downtrend.
The soy oil at NCDEX might again come back in bearish trend as the higher supplies of the edible oils across the globe as per the USDA report is expected to have negative impact. NCDEX spot price for chana fell as speculators booked profits at high levels, driven by a sluggish spot demand, increased arrivals from producing belts also led to fall in Chana prices. Cardamom is projected to trade slightly positive. The NCDEX levels of fresh buying at lower level is likely to support the prices. Export inquiries from Gulf amid upcoming festive season might support the prices. We expect guar seed and gum to retain its downtrend.
