Pepper may trade down on profit booking

Last Updated : November 03, 2011 10:11

MUMBAI( Commodity Online): Moderate profit booking was observed for Pepper as other Spices fell. No strong reports emerged from the markets however.

Traders expect fall in rates over last few days have been significant and an expected rise in exports in coming weeks could support the price further.

Slight improved production prospects from Kerala and Karnataka and arrival of the new crop could limit the uptrend. Overall Fundamentals remained firm however from lower stocks and lower production amidst expected rise in export demand n coming weeks.

Exports and domestic demand from North India remained good. Traders expect that with low stocks, lower global production and rising export demand, trend is likely to remain Bullish for the commodity from a medium to long term point of view.

Strengthening in the Dollar vs Re rates could have beneficial impact on the export front. But short term correction possibilities remain.

Traders expect that good demand and a firm trend in Vietnam could support the rates further. Good demand from Gulf countries sup-porting the rates. Demand from China and West Asia also reported.

IPC has predicted 2011 crop to be lower by 2% at 309,952 MT. Carryforward stocks are expected to decline marginally to 94,582 MT vs 95,442 MT. Global exports have declined by 11% to 237,650 MT. Indian production expected to decline to 48,000 MT.

Vietnam is having low stocks as per reports. The production there too is expected to fall this year as per some estimates. Brazil and Indonesian crop expected to be lower. Low carryover stock in Brazil and Indonesia is likely to raise exports here in coming months.

Reports of farmers shifting to other more profitable crops have affected the production aspects for the crop in India.

Latest reports from Spice Board of India indicates the likely Pepper exports for the period April-August 2011 have risen by 12% to 8.750 MT in 2011 from 7,800 MT in 2010 same period.

Courtesy: Religare Commodities

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Pepper may trade down on profit booking

Last Updated : November 03, 2011 10:11

MUMBAI( Commodity Online): Moderate profit booking was observed for Pepper as other Spices fell. No strong reports emerged from the markets however.

Traders expect fall in rates over last few days have been significant and an expected rise in exports in coming weeks could support the price further.

Slight improved production prospects from Kerala and Karnataka and arrival of the new crop could limit the uptrend. Overall Fundamentals remained firm however from lower stocks and lower production amidst expected rise in export demand n coming weeks.

Exports and domestic demand from North India remained good. Traders expect that with low stocks, lower global production and rising export demand, trend is likely to remain Bullish for the commodity from a medium to long term point of view.

Strengthening in the Dollar vs Re rates could have beneficial impact on the export front. But short term correction possibilities remain.

Traders expect that good demand and a firm trend in Vietnam could support the rates further. Good demand from Gulf countries sup-porting the rates. Demand from China and West Asia also reported.

IPC has predicted 2011 crop to be lower by 2% at 309,952 MT. Carryforward stocks are expected to decline marginally to 94,582 MT vs 95,442 MT. Global exports have declined by 11% to 237,650 MT. Indian production expected to decline to 48,000 MT.

Vietnam is having low stocks as per reports. The production there too is expected to fall this year as per some estimates. Brazil and Indonesian crop expected to be lower. Low carryover stock in Brazil and Indonesia is likely to raise exports here in coming months.

Reports of farmers shifting to other more profitable crops have affected the production aspects for the crop in India.

Latest reports from Spice Board of India indicates the likely Pepper exports for the period April-August 2011 have risen by 12% to 8.750 MT in 2011 from 7,800 MT in 2010 same period.

Courtesy: Religare Commodities

View the original article here

DBS Profit Rise Tops Expectations

SINGAPORE—DBS Group Holdings Ltd. posted a better-than-expected 6% rise in third-quarter net profit Wednesday as trade finance continued to drive the bank's loan growth.

DBS Chief Executive Piyush Gupta said that while global macroeconomic headwinds are strengthening, the bank, Southeast Asia's largest by assets, remains well-equipped to handle a slowdown in regional growth.

"We think Asia will slow and will be at least a couple of percentage points off [its average growth], but Asia will not have a precipitated bloodbath," Mr. Gupta said at a briefing. "Therefore we think that in a slow Asia with growth rates of 6% to ...

SINGAPORE—DBS Group Holdings Ltd. posted a better-than-expected 6% rise in third-quarter net profit Wednesday as trade finance continued to drive the bank's loan growth.

DBS Chief Executive Piyush Gupta said that while global macroeconomic headwinds are strengthening, the bank, Southeast Asia's largest by assets, remains well-equipped to handle a slowdown in regional growth.

"We think Asia will slow and will be at least a couple of percentage points off [its average growth], but Asia will not have a precipitated bloodbath," Mr. Gupta said at a briefing. "Therefore we think that in a slow Asia with growth rates of 6% to ...

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Westpac Profit Up 10%

SYDNEY—Westpac Banking Corp. said Wednesday its full year net profit rose 10% helped in part by a decline in impairment charges, while the company signaled it will continue to be vigilant about costs in what it expects to be a subdued environment for credit growth.

Although the bank moved quickly to pass on a 0.25 percentage point rate cut to mortgage holders after the central bank cut rates on Tuesday, Chief Financial Officer Philip Coffey said ...

SYDNEY—Westpac Banking Corp. said Wednesday its full year net profit rose 10% helped in part by a decline in impairment charges, while the company signaled it will continue to be vigilant about costs in what it expects to be a subdued environment for credit growth.

Although the bank moved quickly to pass on a 0.25 percentage point rate cut to mortgage holders after the central bank cut rates on Tuesday, Chief Financial Officer Philip Coffey said ...

NCDEX chana drops 1.09% on profit taking

Last Updated : October 28, 2011 16:04

MUMBAI (Commodity Online): Chana futures declined Friday on profit booking by the traders though firm demand in the local markets during the festive seasons limited the downtrend.

At NCDEX chana November contract is trading at Rs.3437 per quintal, a decline of 1.09 per cent against the previous close.

In the early sessions the contract traded at a range of Rs.3373-3484 per quintal. Open interest of the contract is 127440 lots and volume traded is 126290 lots for the time being.

Raising MSP of Rabi crop supported market sentiments where an overall bullish sentiment was already prevailing. MSP of Gram was raised by 33% to Rs 2800/Q from Rs 2100/Q.

As per the latest release of the Rajasthan Agriculture department, 228200 hectares has been covered under Chana cultivation as on 18th October 2011. In Maharashtra area sown under Chana cultivation stands around 6100 hectares till 18th October 2011.

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India potato futures weaken on profit booking

Last Updated : October 28, 2011 12:44MUMBAI (Commodity Online):India Potato futures that witnessed a rally in the beginning of the week on spot market demand and restricted supplies from producing regions has weakened on Friday morning trade on profit booking at higher levels.

Potato March futures at National Commodity and Derivatives Exchange of India (NCDEX) has fallen 1.59 % on Friday to Rs 626.60 as against previous closing price of Rs 636.30. The contract had climbed 5% this week till Thursday. At Multi-Commodity Exchange of India MCX Potato March futures is down 1.75% at Rs 675.10. The contract gained 4.42% till Thursday this week at Rs 685.40 per quintal.

Analysts said that restricted supplies and speculative activity continues to provide firm support to potato futures.

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