Cardamom: Agri-commodity: Chana falls; cardamom, crude palm oil rise

Chana prices fell by another 0.43 per cent to Rs 5,953 per quintal in futures trading today as speculators engaged in trimmed their positions, driven by sluggish demand in the spot market against adequate stocks position.

At the National Commodity and Derivatives Exchange, chana for delivery in October contracts declined by Rs 26, or 0.43 per cent to Rs 5,953 per quintal with an open interest of 28,840 lots.

Similarly, the commodity for delivery in November shed Rs 6, or 0.10 per cent to Rs 5,975 per quintal in 28,550 lots.

Analysts said cutting down of positions by traders on the back of easing demand in physical market against adequate stocks position, mainly kept chana prices down at futures trade.

Crude palm oil
Crude palm oil prices went up by 0.31 per cent to Rs 541.50 per 10 kg in futures trade today as speculators enlarged positions, taking positive cues from spot market on strong demand.

At the Multi Commodity Exchange, crude palm oil for delivery in September rose by Rs 1.70, or 0.31 per cent to Rs 541.50 per 10 kg in business turnover of 66 lots.

Likewise, the oil for delivery in October edged up by Rs 1.20, or 0.22 per cent to Rs 538.60 per 10 kg in 79 lots.

Analysts said expanding of positions by participants following pick up in demand in the spot market against restricted supplies from producing regions, mainly kept crude palm oil prices higher at futures trade.

Mentha oil
Continuing its rising streak for the third straight day, mentha oil prices rose further by 0.33 per cent to Rs 1,176 per kg in futures trading today as participants engaged in enlarging their positions amid pick up in demand from consuming industries in the spot market.

At the Multi Commodity Exchange, mentha oil for delivery September moved up by Rs 3.90, or 0.33 per cent to Rs 1,176 per kg in business turnover of 139 lots.

On similar lines, the oil for delivery in October was trading higher by Rs 3.50, or 0.29 per cent to Rs 1,190 per kg in 53 lots.

Analysts said raising their bets by traders due to uptick in demand from consuming industries in the physical market against tight stocks position on fall in supplies from Chandausi, mainly kept mentha oil prices higher at futures trade.

Cardamom
Cardamom prices advanced by 1.77 per cent to Rs 1,188 per kg in futures trade today as speculators engaged in enlarging their positions, tracking a firm trend at spot market on strong demand.

Besides, tight stocks position on fall in arrivals from producing belts too fulled the uptrend.

At the Multi Commodity Exchange, cardamom for delivery in October shot up by Rs 20.70, or 1.77 per cent to Rs 1,188 per kg in business turnover of 63 lots.

On similar lines, the spice for delivery in November traded higher by Rs 18.50, or 1.62 per cent to Rs 1,164 per kg in 12 lots.

Analysts said widening of positions by traders on the back of strong demand supported by ongoing festive season against restricted supplies from producing regions mainly kept cardamom prices higher at futures trade.

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