Mentha oil prices up 0.30% on surging demand
Mentha oil prices were trading up 0.30 per cent to Rs 895.80 per kg in futures market today after participants raised bets on rise in demand from consuming industries at the spot market against restricted arrivals from producing belts.
At the Multi Commodity Exchange, mentha oil for delivery in July rose Rs 2.70, or 0.30 per cent, to Rs 895.80 per kg, clocking a business volume of 95 lots.
The oil for June delivery traded higher by Rs 2.10, or 0.24 per cent up, at Rs 885 per kg, with a trading volume of 10 lots.
Marketmen said raising of bets by speculators, driven by rising demand from consuming industries in the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.
Cardamom futures down 2% on fall in demand
Cardamom prices fell 2 per cent to Rs 1,003.30 per kg in futures trade today as speculators reduced positions amid low demand.
Besides, sufficient stocks on higher arrivals from the major cardamom producing regions too weighed on the prices.
At the Multi Commodity Exchange, cardamom for delivery in July fell by Rs 20.40, or 2 per cent, to Rs 1,003.30 per kg, in a business turnover of 39 lots.
Similarly, the spice for delivery in August edged down by Rs 17.10, or 1.80 per cent, to Rs 933 per kg, with trading volume of just one lot.
Analysts said off-loading of positions by speculators amid higher supplies from producing regions and sluggish demand in the spot market mainly pulled down cardamom prices in futures trade.
Crude palm oil futures up 0.62% on spot demand
Crude palm oil prices were up by 0.62 per cent to Rs 483.40 per 10 kg in futures trade today as speculators indulged in enlarging positions, driven by a firm demand at the spot market.
Besides, a firming trend in overseas markets supported the uptrend.
At the Multi Commodity Exchange, crude palm oil for delivery in July rose by Rs 3, or 0.62 per cent, to Rs 483.40 per 10 kg, in a business turnover of 499 lots.
Similarly, the oil for delivery this month went up by 0.40 paise, or 0.08 per cent, to Rs 490.80 per 10 kg in 101 lots.
Analysts said widening of positions by participants amid pick-up in demand in the spot market against tight stocks position on restricted supplies from producing regions, mainly kept crude palm oil prices higher at futures trade.
Uptick in spot demand lifts jeera futures by 1.16%
Jeera prices rose by Rs 220 to Rs 19,235 per quintal in futures market today after participants widened positions backed by rising demand.
Restricted supplies in the domestic spot market and some export enquiries too supported the uptrend.
Likewise, the spice for delivery in July traded higher by Rs 200, or 1.06 per cent, to Rs 19,055 per quintal in 8,694 lots.
Traders said speculative positions built up by participants amid pick-up in domestic as well as export demand mainly led to the rise in jeera prices in futures trade.