Oleo Resin(Leesa) | Auction Results | 2nd Week of May 2017

  • 05/05/2017 | Tanakpur (Uttranchal)

Auction happened but nothing was sold.

As MSP(Minimum Selling Price) was still 6000 per quintal for old crops and 6200 per quintal for new crops.

  • 10/05/2017 | Rishikesh (Uttaranchal)

The auction was canceled.

  • 12/05/2017 | Almora (Uttaranchal)

Auction was conducted but nothing was sold.

As per sources, the first bid was at 4000-4100 per quintal but nothing was sold at this price. Then the bid reached around 5100-5200 but again nothing was sold, because MSP conveyed to the forest officer were still 6000 and 6200 for old and new crops respectively.

Way ahead

Nothing was sold in the last three auctions. It is very unlikely that the price of Rosin will drastically fall. Rather amidst the rumors, there has been a shortage of Rosin and its allied products.

With the next auction on 20th May 2017(Nanital), there is no chance that the market will slip lower for the next 10 days.  

This is our take; any other views are also welcome.

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