Wheat: Agri-commodity: Wheat extends gains; cardamom, mentha oil fall

Wheat prices advanced by 0.73 per cent to Rs 1,647 per quintal in futures market today following a pick up in demand at spot market.

At the National Commodity and Derivatives Exchange, wheat for delivery October month gained Rs 12, or 0.73 per cent to Rs 1,647 per quintal with an open interest of 14,040 lots.

Likewise, the wheat for delivery in September traded higher by Rs 10, or 0.62 per cent to Rs 1,626 per quintal in 630 lots.

Analysts said widening of positions by participants on the back of rising demand from flour mills in the physical market amid pause in arrivals, mainly kept wheat prices higher at futures trade.

Cardamom
Cardamom prices moved down by 1.46 per cent to Rs 1,228 per kg in futures market today odue to weak demand in spot markets.

At the Multi Commodity Exchange, cardamom for delivery in November month fell by Rs 18.20, or 1.46 per cent to Rs 1,228 per kg in business turnover of seven lots.

The spice for delivery in October month shed Rs 11.20, or 0.88 per cent to Rs 1,264 per kg in 56 lots.

Analysts said besides profit-booking by participants at existing levels, fall in demand in the spot market against adequate stocks position mainly pulled down cardamom prices at futures trade.

Mentha oil
Mentha oil prices fell further by 0.23 per cent to Rs 1,213.50 per kg in futures trade today as speculators engaged in reducing their positions after muted demand at spot markets.

At the Multi Commodity Exchange, mentha oil for delivery in October fell by Rs 2.80, or 0.23 per cent to Rs 1,213.50 per kg in business turnover of 37 lots.

Similarly, the oil for delivery in September was trading lower by Rs 1.70, or 0.14 per cent to Rs 1,199.50 per kg in 229 lots.

Analysts said muted demand at spot markets following sufficient stocks position on higher supplies from producing belts impacted the futures prices.

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