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Guarseed yesterday we have seen that market has moved 3.48% on lower acreage in the biggest producer Rajasthan and depleting stocks. As per latest release from Rajasthan State Agriculture, the total sowing acreage of guarseed in the current year was reported at 17 lakh hectares as on 16th August 2011, down almost 16% from the last year in the same period. This was due to delayed monsoon in the major producing areas of guarseed in Rajasthan such as Barmer, Bikaner and Jodhpur.

Pepper September delivery gained Rs 527 and settled at Rs 32930/quintal as exports and domestic demand from North India remained good. Demand from North India too has been regularly there ahead of the Festive season. IPC has predicted 2011 crop to be lower by 2% at 309,952 MT. Carry forward stocks are expected to decline marginally to 94,582 MT vs 95,442 MT. Global exports have declined by 11% to 237,650 MT.

Menthaoil August contract dropped Rs 2.8 and settled at Rs 1129.7 as traders booked profit after recent gains. Moderate demand has been noted in the mandis with traders expecting the demand from pharmaceutical Industries to rise in coming days. Lower arrivals and rising export demand and domestic demand from the Pharmaceutical Industries have been there. On August 20th August total stock of mentha oil at MCX-monitored warehouses at Chandausi was 85,59 kg of which 85,593 kg was physical stock and the demat stock was zero.

Soyabean yesterday we have seen that market has moved 0.25% supported by firm overseas market but gains were limited due to an expected rise in production. India's soybean output in 2011/12 is likely to rise 10.5 percent to 10.5 million tonnes as farmers plant a larger area with the crop and rains adequate. Confirming data released earlier this month, Customs said total imports in the first seven months fell 5.5% to 29.06 million tons.

Chana gained Rs 118 and settled at Rs 3238 per quintal on the back of firm demand in the physical markets for the upcoming festive seasons. Firm trend in other Pulses too could support the rates though good progress of sowing activities for Kharif Pulses like Tur, Urad and Moong can dampen the market sentiments for Chana to some extent. According to the 4th Advance Estimates released on 19, 2011, pulses production for2010-11 is at record highs of 18.09 million tonnes as compared to 14.66 million tonnes in 2009-10.

Aluminium yesterday traded with the negative node and settled -0.33% down at 106.3 tracking weakness in other base metals counters as US dollar index gained. LME aluminum prices slightly rebounded following rising crude prices during the day, and finally closed at USD 2,348.3/mt, down USD 1.8/mt or 0.07%. More than 100,000 tonnes of aluminium flowed into London Metal Exchange-registered warehouses in Vlissingen, latest LME data showed, in another big increase that has inflated stocks in the Dutch port to over 700,000 tonnes. 

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