Agri commodity: Refined soya oil, mustard seeds on build up of fresh positions

NEW DELHI: Cardamom prices fell 1.28 per cent to Rs 1,056 per kg in futures trade today as speculators booked profits at prevailing levels amid easing demand in the spot markets.

Besides, sufficient stocks on higher arrivals from the major cardamom producing regions too weighed on the prices.

At the Multi Commodity Exchange, cardamom for delivery in far-month May fell by Rs 13.70, or 1.28 per cent, to Rs 1,056 per kg, in a business turnover of 14 lots.

Similarly, the spice for delivery in April month edged down by Rs 9.90, or 0.94 per cent, to Rs 1,040 per kg, with trading volume of 16 lots.

Marketmen said besides profit-taking by speculators at existing levels, increased arrivals from producing regions, mainly put pressure on cardamom prices in the futures market.

Mustard seed
Mustard seed prices recovered by 0.63 per cent to Rs 4,000 per quintal in futures trade today as speculators built up fresh positions.

At the National Commodity and Derivative Exchange, mustard seed delivery for April went up by Rs 25, or 0.63 per cent to Rs 4,000 per quintal with an open interest of 45,230 lots.

Likewise, the delivery of May contracts delivery traded higher by Rs 23, or 0.57 per cent to Rs 4,048 per quintal in 49,720 lots.

Market analysts attributed the rise in mustard seed futures to fresh positions created by traders amid restricted arrivals from producing belts.

Mentha oil
Mentha oil futures fell 1.30 per cent to Rs 1,288.50 per kg today as speculators trimmed their positions, driven by sluggish demand at the spot market.

Ample stocks position on higher supplies from Chandausi in Uttar Pradesh too weighed on mentha oil prices.

At the Multi Commodity Exchange, mentha oil for delivery in April declined by Rs 17, or 1.30 per cent, to Rs 1,288.50 per kg in a business turnover of 435 lots.

Likewise, the oil for delivery in far-month May traded lower by Rs 9.50, or 0.81 per cent, to Rs 1,169 per kg in 10 lots.

Analysts said offloading of positions by participants owing to slackened demand from consuming industries in spot market against ample stocks position mainly led to the decline in mentha oil prices in futures trade.

Refined soya oil
Refined soya oil prices were up by 0.45 per cent to Rs 787.80 per 10 kg in futures market today as speculators created fresh positions.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in May went up by Rs 3.55, or 0.45 per cent to Rs 787.80 per 10 kg with an open interest of 30,550 lots.

Similarly, the oil for delivery in April was trading higher by Rs 2.25, or 0.29 per cent to Rs 778.35 per 10 kg in 61,810 lots.

Analysts said fresh positions built up by traders against restricted arrivals from growing regions, mainly led to rise in refined soya oil prices at futures trade.