|
and by 28% compared wih Jan 09 export volume. The market is expecting
that with weaker rupee the demand for meal will be there but with slowdown
in poultry sector of major importing nations, the requirement may not
be that higher.
The futures trade has moved up by almost 0.5-1% this week from last week's
close. The March futures were approx. trading at US$ 45.5 per 100kg, april
contracts at 45.1, may at 44.9, june at 44.9 and july at 44.8. The open
interest position for march contracts dropped by around 9000 as market
participants switched to next month's contract so outstanding contracts
for april increased by around 12500.
Argentine origin is at around US$ 345-350 pmt while Netherland produce
is at approx. US$ 360-365 pmt fob.
| 
