MCX , NCDEX - Commodity Updates

Mcx Update
Earlier, the MCX had made it mandatory for traders to maintain a deposit worth at least 30 per cent of the value of futures contracts sought to be traded. The 20 per cent reduction in the margin applicable in turmeric contracts will come into effect from today, according to a circular issued by the exchange.

Experts said the deposit money for turmeric traders was reduced in the wake of sharp fall in turmeric futures prices. Turmeric futures prices have declined from a high of Rs 15,000 per quintal to Rs 11,800 per quintal in a span of three months.
MCX-SX on Thursday traded 40,32,061 USD-INR currency futures with a total value amounted to Rs.18,680.17 crore.

Out of which September contract traded 38,16,449 volumes while October contracts traded 1,86,402 volumes as against an RBI reference rate of 46.3000.
Best buying price was recorded for February contract at 47.1250 while lowest buying price was recorded for August contract with Rs 46.2075.
Best selling price was recorded for February 2011 contract at Rs 47.2500 while lowest selling price was recorded for August contract at Rs 46.2150.
Pepper futures for the benchmark October delivery on NCDEX ended the last session lower by 1.10 percent at Rs 20084 after hitting the low of Rs 19693 per 100 kg.

NCDEX Pepper Extends Looses
In today's early trading session, pepper for the October delivery slumped by another Rs 136 or 0.67 percent to the session low of Rs 19948 per 100 kg. The session high was Rs 20,208 and the counter is currently trading lower at Rs 20059, down Rs 25 from the last close. The open interest in the contract added 2.35 percent to 12,110 tonnes from 11,825 tonnes as on last day, indicating short selling. Volume traded as of now stood at 3,385 tonnes.

click Here to get all free commodity tips - Mcx Tips , Ncdex tips