MCX revises fee structure for membership

NEWS DIGEST

MCX, the leading commodity exchange, has recently revised its fee structure for membership. Fees are raised to Rs 65 lakhs for deposit based memberships.The revision is for three categories of members "" Trading-cum-Clearing Member (TCM) (both deposit and non-deposit based); Professional Clearing Member (PCM); and Institutional Trading-cum-Clearing Member (ITCM) "" with effect from April 1, 2007.

The admission fees for TCM, non-deposit based, has been revised to Rs 20 lakh from Rs 10 lakh while for the deposit based member, it has been revised to Rs 10 lakh from Rs 5 lakh. Security deposit for TCM has been revised at Rs 30 lakh (non-deposit based) and Rs 65 lakh (deposit based).

"More and more companies have come forward to trade in the exchanges to gain competitive edge and also to plan their strategies and business plans well in advance. The exchange has been receiving lot of enquires from corporates for membership," a MCX official said.

Red chilli up on poor arrival

Chilli (Ncdex March contract) is up 4.69 per cent at Rs 4731 a quintal. The upward move is due to thin arrivals in Guntur spot market coupled with fresh export orders from Shri Lanka in Guntur spot market.

Jaiprakash Gupta, head, e-commodities Karvi commodities said in last two days chilli prices have gone up by more then 8 per cent. Pepper (Ncdex March contract) is up by 2.08 per cent at Rs 11908.

The upmove (after yesterdays fall of 5.56 per cent due to weak international prices) is because of speculative buying.Mentha (MCX April Contract) is down 4 per cent at Rs 536. The reason for downfall is weaker market sentiments. Higher production of around 25,000 tonne this year compared to 18,000 tonne last year.

Pulses down on increased arrivals

Weak conditions witnessed on the wholesale pulses market today with prices of select commodities declining on increased arrivals from producing centres against sluggish demand, and ended lower.

Traders said slow down in buying by stockists in the face of adequate stocks position following increased arrivals, led to a fall in select commodity prices. Urad chilka local and best quality eased to close at Rs 3600-3700 and Rs 3800-4000 instead of Rs 3700-3850 and Rs 3850-4050 a quintal respectively. Dal moong chilka and best quality slipped to traded at Rs.3750-3950 and Rs 4100-4350 from 3800-4000 and Rs 4100-4400 a quintal.

Gram dal local and best remained weak and lost to Rs 2500-2525 and Rs 2675-2700 per quintal. Similarly, Rajmah chitra Pune and China too quoted lower at Rs 3900-4250 and Rs 3800-3900 instead of Rs 3950-4350 and Rs 3850-3950 a quintal respectively.

Select sugar mill gate price dips

Select sugar mill gate prices drifted on the wholesale sugar market today on lack of buying support amid adequate supply and closed lower. Marketmen said fall in demand from stockists and retailers amid increased supply pulled down select mills prices. However, sugar ready at wholesale market remained quiet on some support.

In the millgate section, sugar chandpur and Bijnor lost to settled at Rs.1395 and Rs.1380 a quintal respectively on slackness in demand. Amroha and Ruderavilash too slipped to close at Rs.1380 and Rs.1390 a quintal respectively.