Agri Prices Futures

11th Nov 08

(Indicative Commodity Prices in US$ PMT FOB port, India)

Feed meals - by breakbulk

Soybean Meal - 284-287 pmt (fob Kandla/Bedi)

Rapeseed Meal - 200-202 pmt (fob Kandla)

Peanut / Groundunt Meal - 250-253 pmt (fob Bedi)

Cumin Seed - Jeera (fob Kandla/Mundra)
Machine Cleaned 99% - US$ 2325-2400
Best Machine Cleaned - US$ 2600-2700

The futures and spot prices both showed some negative movement due to lesser interest of overseas importers as of now. The price movement of cumin in near future will be mainly guided with the estimates of new crop. The jeera sowing starts from Oct and harvested Feb onwards in India.

Sesame Seed - 98/2 - US$ 1675-1725 (fob Kandla/Mundra)

Remains unchanged but it may show some upward price movement later this week.

Black Pepper MGI - US$ 2550-2600 (fob Kochi)

With the Nov futures down by more than 2.5% from spot rates, exporters buying exclusively from exchanges rather than mandis (physical market) can offer more competitive price.

Castor Oil FSG - US$ 1400 pmt (Ex-Kandla)

The castor seeds prices remain at usd 630-645 at major castor markets. With castor futures down from present market as harvesting period is going on the castor oil prices may show the drop in coming days