home Latest News Agri-commodity: Cardamom, chana rise on pick up in demand – Economic Times

Agri-commodity: Cardamom, chana rise on pick up in demand – Economic Times

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Cardamom prices were trading up by 0.78 per cent to Rs 1,252 per kg in futures market today as speculators built up fresh positions after uptick in demand in the spot market.

At the Multi Commodity Exchange, cardamom for delivery in October traded higher by Rs 9.70, or 0.78 per cent up, to Rs 1,252 per kg in a business turnover of 9 lots.

Traders said, fresh positions created by participants, supported by surge in demand in the physical market against restricted supplies from producing regions, mainly influenced cardamom prices at futures trade.

Chana
Chana prices went up by 1.05 per cent to Rs 6,150 per quintal in futures trade today as participants enlarged positions, taking positive leads from spot market on firm demand.

At the National Commodity and Derivatives Exchange, chana for delivery in November climbed by Rs 64, or 1.05 per cent, to Rs 6,150 per quintal with an open interest of 29,570 lots.

Likewise, the commodity for delivery in October traded higher by Rs 17, or 0.27 per cent, to Rs 6,283 per quintal in 32,970 lots.

Analysts said, widening of positions by participants on the back of strong demand in the physical market against restricted supplies from producing belts, mainly pushed up chana prices at futures trade.

Mentha oil
Mentha oil prices moved up by 0.43 per cent to Rs 1,217 per kg in futures trading today as speculators created fresh positions amid pick-up in demand from consuming industries in the spot market.

At the Multi Commodity Exchange, mentha oil for delivery in October rose by Rs 5.20, or 0.43 per cent, to Rs 1,217 per kg in a business turnover of 11 lots.

Likewise, the oil for delivery in September edged higher by Rs 4.10, or 0.34 per cent, to Rs 1,202.50 per kg in 104 lots.

Analysts said, fresh positions built up by traders on the back of pick-up in demand from consuming industries in spot markets against restricted supplies from Chandausi in Uttar Pradesh, mainly led to the rise in mentha oil prices at futures trade.

Crude palm oil
Crude palm oil prices declined by 0.44 per cent to Rs 546.20 per 10 kg in futures trade today as speculators booked profits at prevailing higher levels, driven by easing demand in the spot market.

Besides, adequate stocks position following higher supplies from the producing belts, weighed on prices.

At the Multi Commodity Exchange, crude palm oil for delivery in September fell Rs 2.40, or 0.44 per cent, to Rs 546.20 per 10 kg in a business turnover of 45 lots.

Likewise, the oil for delivery in October traded lower by Rs 2.10, or 0.38 per cent, to Rs 543.50 per 10 kg in 35 lots.

Analysts said, besides profit-booking by speculators at existing levels, fall in demand in the physical market, mainly led to the decline in crude palm oil prices at futures trade.