Agri-commodity: Cardamom, crude palm oil rise; chana falls
PTI|
Updated: Oct 24, 2017, 01.21 PM IST
Cardamom prices ruled higher by 0.47 per cent at Rs 1,044.80 per kg in futures trade today, driven up by addition of bets amid increase in demand at the domestic spot market.
Tight supply from key producing regions also helped prices go higher.
At the Multi Commodity Exchange, cardamom for delivery in November contract rose by Rs 4.90, or 0.47 per cent, to Rs 1,044.80 per kg with trading volume of 26 lots.
The price of the spice for delivery in far-month December increased Rs 1.50, or 0.14 per cent, to Rs 1,050 per kg in 3 lots.
According to traders, widening of position by participants kept cardamom prices higher in futures trade.
Chana
Chana prices drifted further down by 2 per cent to Rs 5,037 per quintal in futures trade today, extending fall for the second day, as participants indulged in reducing exposure amid subdued demand at the spot market against adequate stocks.
Moreover, profit-booking at existing levels weighed on the sentiment.
At the National Commodity and Derivatives Exchange, chana for delivery in November month dropped by Rs 103, or 2 per cent, to Rs 5,037 per quintal, with an open interest of 38,870 lots.
Similarly, the commodity for delivery in far-month December shed Rs 96, or 1.91 per cent, to Rs 4,906 per quintal in 18,610 lots.
Market analysts attributed persistent fall in chana futures to offloading of positions by traders owing to muted demand in physical market against ample stocks position.
Crude palm oil
Crude palm oil prices were up 0.48 per cent to Rs 542.60 per 10 kg in futures trade today as traders created fresh positions, supported by pick-up in demand at the spot market.
Besides, a firming trend in overseas markets too fuelled the uptrend.
In futures trading at the Multi Commodity Exchange, crude palm oil for delivery in December rose by Rs 2.60, or 0.48 per cent, to Rs 542.60 per 10 kg, in a business turnover of 321 lots.
Similarly, the oil for delivery in November month went up by Rs 2.20, or 0.41 per cent, to Rs 542.70 per 10 kg in 472 lots.
Analysts said widening of positions by participants driven by pick-up in demand at the spot market against tight stocks position on restricted supplies from producing regions mainly kept crude palm oil prices higher at futures trade.
Tight supply from key producing regions also helped prices go higher.
At the Multi Commodity Exchange, cardamom for delivery in November contract rose by Rs 4.90, or 0.47 per cent, to Rs 1,044.80 per kg with trading volume of 26 lots.
The price of the spice for delivery in far-month December increased Rs 1.50, or 0.14 per cent, to Rs 1,050 per kg in 3 lots.
According to traders, widening of position by participants kept cardamom prices higher in futures trade.
Chana
Chana prices drifted further down by 2 per cent to Rs 5,037 per quintal in futures trade today, extending fall for the second day, as participants indulged in reducing exposure amid subdued demand at the spot market against adequate stocks.
Moreover, profit-booking at existing levels weighed on the sentiment.
At the National Commodity and Derivatives Exchange, chana for delivery in November month dropped by Rs 103, or 2 per cent, to Rs 5,037 per quintal, with an open interest of 38,870 lots.
Similarly, the commodity for delivery in far-month December shed Rs 96, or 1.91 per cent, to Rs 4,906 per quintal in 18,610 lots.
Market analysts attributed persistent fall in chana futures to offloading of positions by traders owing to muted demand in physical market against ample stocks position.
Crude palm oil
Crude palm oil prices were up 0.48 per cent to Rs 542.60 per 10 kg in futures trade today as traders created fresh positions, supported by pick-up in demand at the spot market.
Besides, a firming trend in overseas markets too fuelled the uptrend.
In futures trading at the Multi Commodity Exchange, crude palm oil for delivery in December rose by Rs 2.60, or 0.48 per cent, to Rs 542.60 per 10 kg, in a business turnover of 321 lots.
Similarly, the oil for delivery in November month went up by Rs 2.20, or 0.41 per cent, to Rs 542.70 per 10 kg in 472 lots.
Analysts said widening of positions by participants driven by pick-up in demand at the spot market against tight stocks position on restricted supplies from producing regions mainly kept crude palm oil prices higher at futures trade.
