Higher Tea Volume At Coonoor Sales - July 03, 2009

Coonoor: Offer of teas in the Coonoor Tea Trade Association auctions continues upward trend this week. For Sale No: 27 to be held on Thursday and Friday, a volume of 17.77 lakh kg is being offered. This is the maximum volume on offer so far in 2009. It exceeds last week's till now highest volume by 55,000 kg. This week's volume is as much as 3.96 lakh kg more than the offer this time last year.

India Coffee Export Dropped 20 Per Cent During Jan-June - July 03, 2009

India's coffee export dropped 20 per cent during the period of January-June 2009, mainly due to lesser global demand led by the economic downturn. Exports during the period stood at 103,621 tonnes as against 130,506 tonnes during the corresponding period of the previous financial year.

Besides, exporters do not witnessed any improvement in shipments in the coming 2-3 months. They suppose the existing coffee year (October 2008 - September 2009) to conclude with exports in the range of 180,000-190,000 tonnes, which would be 14-18 per cent lesser as compared to the previous coffee year.

With this coffee exports would be at a 10-year low, according to Ramesh Raja, president, Coffee Exporters Association of India.

Low coffee output in India has also led to low export volumes while exports are still reeling under the impact of global recession.

It is estimated by the Coffee Board that India's total coffee output would be 262,300 tonnes by the end of the current coffee year, which is 10 per cent lower than the initial estimates.

Pepper Futures Increase Slightly On Firm Supplies - July 03, 2009

Kochi: On Thursday, the pepper futures market stabilized and increased a bit on tight supply position. Ready suppliers were limited and domestic buyers were inactive. The rains during the past few days likely to eliminate the fear of a drought-like condition in the pepper growing areas and that, consequently, has created a positive sentiment in the market.

July contract went up by Rs 63 on NCDEX to close at Rs 12,495 a quintal. August increased by Rs 54 to close at Rs 12,635 a quintal while September dropped by Rs 51 a quintal to close at Rs 12,782.

Total turnover on NCDEX fell by 1,272 tonnes to close at 1,360 tonnes. Total open interest dropped by 11 tonnes to 6,623 tonnes.

July open interest fell by 113 tonnes while that of August and September moved up by 88 tonnes and 11 tonnes, respectively.

Cardamom Arrivals Top 10,000 Tonnes - July 02, 2009

Kochi: Cardamom arrivals reached 10,000-tonnes mark in the auctions held last week in Kerala and Tamil Nadu. On Sunday, the total arrivals at the auctions stood at 10,070 tonnes and when the sales in Wayanad in Kerala and Karnataka centres are added, the total arrivals might cross 12,000 tonnes, trading sources in Bodinayakannur and Kumily said.

Spot Rubber Prices Fall On Opposition - July 02, 2009

Kottayam: On Wednesday, physical rubber prices were weak. The market dropped on buyer resistance lacking quantity buyers from the tyre sector. Sheet rubber declined to Rs 98 from Rs 99.50 a kg, failing to break the Rs 100-mark once again, while the trend was mixed with narrow volumes.

The July futures for RSS 4 fell to Rs 96.75 (Rs 97.52), August Rs 93.75 (Rs 94.18), September Rs 91(Rs 91.47) and October Rs 89.50 (Rs 90.80) a kg on National Multi Commodity Exchange (NMCE).

The July futures for RSS 3 declined to Yen 155.6 (Yen 156.4) (Rs 77.00), August to Yen 155.1 (Yen 156.6), September to Yen 154.8 (Yen 157.7), October to Yen 155.1 (Yen 158.0), November to Yen 156.7 (Yen 159.9) and December to Yen 158.6 (Yen 162.2) a kg during the day session on TOCOM.

The grade closed at Yen 155.3 (Rs 76.87), Yen 155.6, Yen 155.3, Yen 156.6, Yen 158.5 and Yen 160.5 a kg successively on late trades

RSS 3 closed weak at Rs 80.13 (Rs 80.51) a kg at Bangkok. The grade dropped to Rs 80.17 (Rs 80.83) a kg on Singapore Commodity Exchange (SICOM).

Spot rubber rates were (Rs/kg) RSS-4: 98 (99.50); RSS-5: 96 (97.50); ungraded: 93(94), ISNR 20: 90.50 (90.50) and latex 60 per cent: 88(88).

Pepper Futures Reduce Advance - July 02, 2009

Kochi: On Wednesday, pepper futures market continued its fall due to strong selling pressure in the primary market as well as the exchanges. July contract fell by Rs 171 on the NCDEX to Rs 12,449 a quintal. August and September declined by Rs 165 and Rs 296 respectively to Rs 12,597 and Rs 12,740 a quintal.

Total turnover improved 644 tonnes to 2,632 tonnes. Total open interest went up by 46 tonnes to 6,634 tonnes.

Open interest for July dropped by 232 tonnes while that of August and September went up by 251 tonnes and 21 tonnes respectively.

Longview Tea Company Information Remaining Loss - July 01, 2009

Longview Tea Company reported net loss of Rs 0.02 crore in the part ended March 2009 as against net loss of Rs 0.59 crore during the previous part ended March 2008. Sales declined 19.23% to Rs 0.21 crore in the part ended March 2009 as against Rs 0.26 crore during the previous part ended March 2008.

For the full year, net loss reported to Rs 0.05 crore in the year ended March 2009 as against net loss of Rs 0.09 crore during the previous year ended March 2008.

Sales rose 4.40% to Rs 0.95 crore in the year ended March 2009 as against Rs 0.91 crore during the previous year ended March 2008.

Pepper Futures Spectator Decrease - July 01, 2009

Kochi: On Tuesday, the pepper futures market dropped sharply on negative sentiments on reports that Sri Lanka is offering medium grade matured pepper at $2,300 - $2,400 a tonne (c&f) Kochi. Import from Sri Lanka is duty-free and the Indian parity is at $2,700 a tonne, consequently there is a difference of $300 - $400 a tonne.

Fear of further fall in the price led bulls to liquidation and that in turn pulled down the futures market.

July contract dropped by Rs 244 to Rs 12,562 a quintal. August and September fell by Rs 236 and Rs 249 respectively to Rs 12,720 and Rs 12,875 a quintal.

Spot Rubber Turns Packed Together - July 01, 2009

Kottayam: On Tuesday, Spot rubber remained firm on covering purchases with sustained rains all on the plantation areas during the past 24 hours. There were no fresh enquiries from the tyre sector and sheet rubber went up marginally to Rs 99.50 from Rs 99 a kg on scattered transactions.

The July futures for RSS 4 ended at Rs 97.48 (97.48), August at Rs 94.05 (94.45), September at Rs 91.41 (92.00) and October at Rs 90.80 (91.30) a kg on National Multi Commodity Exchange (NMCE).

The July futures for RSS 3 rebounded to Yen 156.5 (151.5) (Rs 78.18), August to Yen 156.3 (152.2), September to Yen 157.4 (153.6), October to Yen 157.4 (154.1), November to Yen 160.1 (155.4) and December futures to Yen 162.1 (157.5) a kg during the day session on TOCOM.

But the grade plunged to Yen 153.7, Yen 155.2, Yen 156, Yen 156.6, Yen 158.1 and Yen 160.2 a kg consecutively during the night session.

RSS 3 slipped to Rs 80.51 (80.85) a kg at Bangkok. The grade closed at Rs 80.83 (80.74) a kg on Singapore Commodity Exchange (SICOM).

Spot rates were (Rs/kg): RSS-4: 99.50 (99); RSS-5: 97.50 (96.50); ungraded: 94 (93.50); ISNR 20: 90.50 (90.50) and latex 60 per cent: 88 (86.50).

Discrepancy Monsoon May Support Sugar Prices - June 30, 2009

On Monday trading, sugar stocks witnessed firm trading on the back of prospect of a downward revision in sugar output the next season, October 2009-September 2010. Discrepancy in monsoon could trigger a fresh rally in the commodity. However, the downward revision in output is not entirely good news for all the players.

The monsoon is playing truant in key producing states such as Maharashtra and Uttar Pradesh. Consequently, industry sources have now indicated that the output for the next year may stand at about 175 lakh tonnes, instead of 200 lakh tonnes originally estimated. However, the annual consumption is about 220 lakh tonnes.