Crude palm oil, chana, refined soya oil fall on muted demand

Crude palm oil prices drifted lower by 0.66 per cent to Rs 494.70 per 10 kg in futures trade today as traders booked profits amid easing demand at the spot market.

Besides, sufficient stocks position following higher supplies from the producing belts too fuelled the downtrend.

At the Multi Commodity Exchange, crude palm oil for delivery in August declined by Rs 3.30, or 0.66 per cent to Rs 494.70 per 10 kg in business turnover of 107 lots.

Likewise, the oil for delivery in September contracts was trading lower by Rs 3.20, or 0.64 per cent to Rs 496.40 per 10 kg in 82 lots.

Analysts said besides profit-booking by speculators at prevailing higher levels, fall in demand at the spot market against ample stocks position mainly weighed on crude palm oil prices.

Chana
Chana prices fell by 1.19 per cent to Rs 5,470 per quintal in futures trade today as speculators booked profits amid fall in demand in the spot market.

In futures trading at the Multi Commodity Exchange, crude palm oil for delivery in September fell by Rs 66, or 1.19 per cent to Rs 5,470 per quintal with an open interest of 16,880 lots.

Likewise, the oil for delivery in October declined by Rs 48, or 0.88 per cent to Rs 5,382 in 13,350 lots.

Analysts said besides profit-booking by participants at prevailing higher levels, easing demand at the spot market against ample stocks position mainly weighed on chana prices at futures trade.

Refined soya oil
Refined soya oil prices moved down by 0.47 per cent to Rs 639.60 per 10 kg in futures market today as speculators reduced exposure amid subdued demand in the spot market against ample stocks.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in August declined by Rs 3, or 0.47 per cent to Rs 639.60 per 10 kg with an open interest of 12,090 lots.

On similar lines, the oil for delivery in September contracts shed Rs 2.85, or 0.44 per cent to Rs 647.75 per 10 kg in 52,830 lots.

Analysts said offloading of positions by traders owing to sluggish demand in the physical market against adequate stocks position, led to decline in refined soya oil prices at futures trade.

Mentha oil
Mentha oil prices flared up by 2.61 per cent to Rs 1,195.60 per kg in futures trade today as speculators built up fresh positions amid pick up in demand from consuming industries in the spot market.

Besides, tight stock position on fall in arrivals from major producing belts of Chandausi in Uttar Pradesh supported the upmove.

At the Multi Commodity Exchange, mentha oil for delivery in August shot up by Rs 30.40, or 2.61 per cent to Rs 1,195.60 per kg in business turnover of 557 lots.

In a similar fashion, the oil for delivery in September contracts traded higher by Rs 30.20, or 2.57 per cent to Rs 1,207.10 per kg in 116 lots.

Analysts said fresh positions created by participants on the back of pick up in demand from consuming industries in the physical market against restricted supplies from Chandausi, mainly pushed up mentha oil prices at futures trade.

Cardamom
Cardamom prices went up by 0.28 per cent to Rs 1,176 per kg in futures trading today as participants built up fresh positions, tracking a firm trend at spot markets on strong domestic as well as export demand.

At Multi Commodity Exchange, cardamom for delivery in September rose by Rs 3.30, or 0.28 per cent to Rs 1,176 per kg in business turnover of 93 lots.

On similar lines, the spice for delivery in October contracts was trading higher by Rs 2.70, or 0.24 per cent to Rs 1,135.50 per kg in 5 lots.

Analysts said fresh positions created by traders, taking positive cues from spot market on strong domestic as well as exports demand against tight stocks position on fall in supplies from producing regions, supported the upside in cardamom prices at futures trade.

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