kapas updates

Cotton in Physical Market Opened Unchanged in Kadi Cotton Market

At Kadi Cotton Market market in Mehsana, Cotton BT COTTON began at 4250-4575 per quintal, unchanged as compared to previous close. Estimated market supply was at 300 motars, down by 150 motars as against previous day. Cotton in Mehsana Market (Prices in per quintal) Market Commodity/Variety Price Change Absolute Kadi Cotton Market Cotton BT COTTON 4250-4575 0 nnbsp; Note: The above mentioned prices are in per quintal and arrivals are in motars.

gurchumzcr updates

Jaggery Physical Market in Kolhapur Trading with Weak Sentiment
At Kolhapur market , Jaggery Super Fine is trading weak at 3000-3800 per quintal, lower by 5 per cent from previous dayn#39;s price level. Jaggery in Kolhapur Market (Prices in per quintal) Market Commodity/Variety Price Change Absolute kolhapur Jaggery Super Fine 3000-3800 -200 Note: The above mentioned prices are in per quintal and arrivals are in Bags/Kg10.
 

chilli updates

NCDEX Red Chilli March 2012 contract trading significantly up

NCDEX Red Chilli March-2012 delivery contract opened at Rs. 5220 Rs/qtl today, a decline of 0.61 per cent against previous settlement. NCDEX Red Chilli March 2012 contract finished significantly up at Rs. 5358 Rs/qtl, higher by 2.02 per cent over previous settlement price. The contract traded in the range of Rs. 5180-5358 Rs/qtl during the session. Rise in open interest along with prices indicate that an uptrend is in place and is likely to be sustained. Volume has declined to 715, lower by 1715 against previous trading day. NCDEX Red Chilli March-2012 Futures (10:31 AM IST) Last Traded Open High Low Previous Close Volume Open Interest 5358 5220 5358 5180 5252 715 2905 nnbsp; Price Drivers: Bullish Factor : 1) Higher demand nnbsp;

TNS RBI hikes bank rate 350 bps

TNS RBI hikes bank rate 350 bps, align with MSF; Not to impact markets

   By Boby Michael

   MUMBAI, FEB 14 (TickerNews Service): The Reserve Bank of India on Monday raised a defunct policy rate -bank rate- by 350 basis points to align it with Marginal Standing Facility, which itself has been set permanently 100 basis points mid-way between repo and reverse repo rate.

   "This should be viewed and understood as one-time technical adjustment to align the bank rate with the MSF rate rather than a change in the monetary policy stance," the RBI said in a statement released late Monday.

   The hike, which takes effect immediately, will mainly impact the penal interest rate charged on CRR defaults by banks, which has been the bank rate for long.

   It will also result in the rise of reference rate as several organisations are still keeping many of their funding or financing rates linked to the bank rate, the central bank circular show.

   "It is practically giving life to a dead rate. The main take-away is the CRR penalty impact," said Premanand Kamat, treasury head of Corporation Bank.

   "Yes, there will be very rare cases of a CRR default. But keeping the penal rate much lower than repo rate is in a way incentivizing a defaulter. The penalty should be at least the MSF," he added.

   The third impact listed by the central bank in its statement was bill discounting and re-discounting rates of banks, which has also been linked to the bank rate.

   However, the bill discounting and re-discounting market, a very non-transparent, difficult-to-operate facility banks used to rely on for their short-term liquidity needs many years ago, is not going to make a comeback and therefore, there is no significance for bank rate hike in that context.

   "A comparison of bills discounting market with modern-day money market instruments will be like comparing laptops with early days' mathematics tables," says Kamat.

   The bank rate hike is not expected to impact gilts or money markets, he added.   

soyabean updates

Soyabean Physical Market Closed with a Firm Note in Bina
At Bina market , Soyabean finished firm at 2300-2325 per quintal, higher by 0.43 per cent as compared to previous day. Traders reported arrivals at 700 quintals, up by 100 quintals as compared to previous day. nnbsp; Soyabean in Bina Market (Prices in per quintal) Market Commodity/Variety Price Change Absolute Bina Soyabean 2300-2325 +10 Note: The above mentioned prices are in per quintal and arrivals are in quintals.