Agri-commodity: Cardamom, crude palm oil fall on muted demand
PTI|
Updated: Sep 25, 2017, 12.54 PM IST
Cardamom prices fell by 1.12 per cent to Rs 1,170 per kg in futures market today as speculators scaled down exposure amid easing demand in the spot market against adequate stocks.
At Multi Commodity Exchange, cardamom for delivery in October declined by Rs 13.30, or 1.12 per cent, to Rs 1,170 per kg in a business turnover of 4 lots.
Analysts said offloading of positions by participants owing to slack demand in the physical market against ample stock position influenced cardamom prices in futures trade.
Crude palm oil
Crude palm oil prices moved lower by 1.14 per cent to Rs 536.60 pr 10 kg in futures trade today as traders booked profit amid subdued demand in the spot market.
Besides, sufficient stock position following higher supplies from producing belts fuelled the downtrend.
At Multi Commodity Exchange, crude palm oil for delivery in October fell by Rs 6.20, or 1.14 per cent, to Rs 536.60 per 10 kg in a business turnover of 410 lots.
Likewise, the oil for delivery in September contracts traded lower by Rs 3.40, or 0.62 per cent, to Rs 541.50 per 10 kg in 143 lots.
Analysts said that besides profit-booking by speculators at prevailing higher levels, decline in demand at the spot market weighed on crude palm oil prices.
Mentha oil
Mentha oil prices moved down by 0.44 per cent to Rs 1,169.90 per kg in futures trading today as speculators reduced exposure, taking negative cues from the spot market on low demand.
Besides, ample stock position on higher supplies from producing regions influenced mentha oil prices.
At Multi Commodity Exchange, mentha oil for delivery in September declined by Rs 5.20, or 0.44 per cent, to Rs 1,169.90 per kg in a business turnover of 97 lots.
Similarly, the oil for delivery in October contracts shed Rs 4.90, or 0.41 per cent, to Rs 1,183.50 per kg in 115 lots.
Analysts said offloading of positions by participants due to tepid demand from consuming industries in the physical market against ample stock position on higher supplies from Chandausi in Uttar Pradesh mainly led to the price decline.
At Multi Commodity Exchange, cardamom for delivery in October declined by Rs 13.30, or 1.12 per cent, to Rs 1,170 per kg in a business turnover of 4 lots.
Analysts said offloading of positions by participants owing to slack demand in the physical market against ample stock position influenced cardamom prices in futures trade.
Crude palm oil
Crude palm oil prices moved lower by 1.14 per cent to Rs 536.60 pr 10 kg in futures trade today as traders booked profit amid subdued demand in the spot market.
Besides, sufficient stock position following higher supplies from producing belts fuelled the downtrend.
At Multi Commodity Exchange, crude palm oil for delivery in October fell by Rs 6.20, or 1.14 per cent, to Rs 536.60 per 10 kg in a business turnover of 410 lots.
Likewise, the oil for delivery in September contracts traded lower by Rs 3.40, or 0.62 per cent, to Rs 541.50 per 10 kg in 143 lots.
Analysts said that besides profit-booking by speculators at prevailing higher levels, decline in demand at the spot market weighed on crude palm oil prices.
Mentha oil
Mentha oil prices moved down by 0.44 per cent to Rs 1,169.90 per kg in futures trading today as speculators reduced exposure, taking negative cues from the spot market on low demand.
Besides, ample stock position on higher supplies from producing regions influenced mentha oil prices.
At Multi Commodity Exchange, mentha oil for delivery in September declined by Rs 5.20, or 0.44 per cent, to Rs 1,169.90 per kg in a business turnover of 97 lots.
Similarly, the oil for delivery in October contracts shed Rs 4.90, or 0.41 per cent, to Rs 1,183.50 per kg in 115 lots.
Analysts said offloading of positions by participants due to tepid demand from consuming industries in the physical market against ample stock position on higher supplies from Chandausi in Uttar Pradesh mainly led to the price decline.
