Slight improved demand continued in the mandis at the lower levels. Lower Vietnam rates however continued to prevent the upside movement in prices. However reports of staggered selling by Vietnam and some imports taking place into India can provide some uptrend to the prices.
Low stocks and supplies in Indian markets are reported. Demand from grinders and traders were moderate and traders expect further fall in prices before demand picks up.
Reports of cheaper imports into India had pressurized prices. There has been improvement in domestic demand but export demand has not picked up. Traders are optimistic of a rise in exports in near future. Some demand has been reported from European countries. Improved demand from the Mid-east countries likely in coming days.
Trade commodities or equities from across the globe. Join NowAs per traders, total production expected at ~45000 tons. Carry forward stock reported low at ~7000 tons vs ~15-20000 tons last year.
Courtesy: Religare Commodities
