New Delhi: Cardamom prices drifted lower by 0.56 per cent to Rs 1,042 per kg in futures trade today as investors exited positions amid easing demand in the spot market.
At the Multi Commodity Exchange, cardamom for delivery in April declined by Rs 5.90, or 0.56 per cent to Rs 1,042 per kg in business turnover of 6 lots.
Traders said offloading of positions by participants on the back of decline in demand in the physical market against adequate stocks position on higher supplies from producing belts mainly weighed on cardamom prices at futures trade.
Mentha oil prices climbed 3.19 per cent to Rs 1,251.50 per kg in futures market today as speculators raised their bets amid strong demand from consuming industries in the domestic spot market.
Furthermore, tight stocks position on restricted supplies from Chandausi in Uttar Pradesh too supported the upside in prices.
At the Multi Commodity Exchange, mentha oil for delivery in far-month May shot up by Rs 38.70, or 3.19 per cent to Rs 1,251.50 per kg in business turnover of 24 lots.
Similarly, the oil for delivery in April was trading higher by Rs 41.40, or 3.14 per cent to Rs 1,359.90 per kg in 323 lots.
Marketmen said widening of positions by traders, driven by upsurge in demand from consuming industries in the physical market against restricted supplies from Chandausi, led to the rise in mentha oil prices at futures trade.
Crude palm oil:
Amid pick up in demand at domestic spot market, crude palm oil prices were up by 0.69 per cent to Rs 656.30 per 10 kg in futures trading today as speculators created fresh positions.
At the Multi Commodity Exchange, crude palm oil for delivery in April went up by Rs 4.50, or 0.69 per cent to Rs 656.30 per 10 kg in business turnover of 226 lots.
Likewise, the oil for delivery in May was trading higher by Rs 4.20, or 0.64 per cent to Rs 662 per 10 kg in 24 lots.
Analysts said the rise in crude palm oil prices was mostly due to building up of fresh positions by traders after uptick in demand in the physical against restricted supplies from growing regions.
Jeera prices hardened 0.60 per cent to Rs 15,100 per quintal in futures market today as speculators created fresh positions, taking positive cues from spot market on uptick in demand.
Besides, tight stock positions on restricted arrivals from the growing regions fuelled the uptrend.
At the National Commodity and Derivatives Exchange, jeera for delivery in far-month May rose by Rs 90, or 0.60 per cent to Rs 15,100 per quintal with an open interest of 1,986 lots.
On similar lines, the spice for delivery in April gained Rs 65, or 0.45 per cent to Rs 14,585 per quintal in 7,164 lots.
Traders said fresh positions built up by participants after pick up in demand in the physical market against restricted supplies from producing belts, mainly attributed the rise in jeera prices at futures trade.