Agri-commodities_ mentha oil edges up, crude palm oil, sugar fall – the economic times usd to yen conversion
NEW DELHI: Mentha oil prices edged up by 0.13 per cent to Rs 922 per kg in futures market as participants built up fresh positions after pick-up in demand from consuming industries in the spot market.
At the Multi Commodity Exchange, mentha oil for delivery in November month moved up by Rs 1.20 or 0.13 per cent to Rs 922 per kg in business turnover of 116 lots.
Analysts said fresh positions created by traders following upsurge in demand from consuming industries in the spot market against restricted supplies from Chandausi led to rise in mentha oil prices in futures trade.
Crude palm oil prices drifted lower by 0.15 per cent to Rs 534.80 per 10 kg in futures trade as speculators booked profits at prevailing higher levels amid easing demand in spot market.
At the Multi Commodity Exchange, crude palm oil for delivery in October
declined by 80 paise, or 0.15 per cent to Rs 534.80 per 10 kg in a business turnover of 62 lots.
Analysts said besides profit-booking by traders at existing levels, fall in demand in the spot market against adequate stocks position on higher supply from the producing belts mainly led to the decline in crude palm oil prices at futures trade.
Cardamom prices moved down by 0.23 per cent to Rs 1,192 per kg in futures trade as traders booked profits at prevailing levels, driven by easing demand in the spot market against adequate stocks.
At the Multi Commodity Exchange, cardamom for delivery in far-month December fell by Rs 2.80, or 0.23 per cent to Rs 1,192 per kg in a business turnover of 5 lots.
Analysts said apart from profit-booking by participants at existing levels, decline in demand in the spot market against adequate stocks position on higher supplies from producing regions mainly influenced cardamom prices at futures trade.
Sugar prices eased further by 0.54 per cent to Rs 3,662 per quintal in futures trading as speculators engaged in trimming their positions, triggered by ample stocks at spot market.
At the National Commodity and Derivatives Exchange, sugar for delivery in March next year fell by Rs 20, or 0.54 per cent to Rs 3,662 per quintal with an open interest of 2,820 lots.
Analysts said trimming of positions by participants amid adequate stocks positions on higher supplies from mills in the physical market against muted demand from bulk consumers kept sugar prices lower at futures trade.