Spot markets at Erode and Nizamabad witnessed lackluster trades amidst improved arrivals on Monday. Prices were thus quoted down by Rs.200/qtl. Arrivals at the domestic mandis are improving gradually.

Domestic mandis in Erode witnessed arrivals of around 8000 bags and Nizamabad mandi witnessed new arrivals of around 5000 bags.

Prices in the futures traded in sideways to down movement on the first day of the week and slipped to lows of 6740/qtl and settled marginally lower on Monday.

There are reports that the production which was earlier projected at 53 lakh bags is now being revised at 47-48 lakh bags (each bag weighs 70kgs).

Spread between the Apr and May contract is at 100.

Courtesy: Angel Commodities

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