Agri-commodities: Crude palm oil, cardamom fall on muted demand

Mentha oil prices rose further by 1.59 per cent to Rs 1,330.50 per kg in futures trading today as speculators raised their bets, driven by rising demand from consuming industries in the domestic spot market.

Besides, tight stocks position on fall in arrivals from producing region, too fuelled the uptrend.
At the Multi Commodity Exchange, mentha oil for delivery in May shot up by Rs 20.80, or 1.59 per cent to Rs

1,330.50 per kg in business turnover of 43 lots.

On similar lines, the oil for delivery in April was trading higher by Rs 10, or 0.69 per cent to Rs 1,466.80 per kg in 204 lots.

Marketmen said widening of positions by traders on the back of strong demand from consuming industries in the physical markets against restricted supplies from Chandausi kept mentha oil prices higher at futures trade.

Cardamom
Cardamom prices drifted further lower by 2.93 per cent to Rs 1,012 per kg in futures trade today as speculators engaged in reducing positions, tracking a weak trend at pot market on low demand.

Besides, ample stocks position on higher supplies from growing regions, too weighed on prices.

At the Multi Commodity Exchange, cardamom for delivery in far-month June fell by Rs 30.60, or 2.93 per cent to Rs 1,012 per kg in business turnover of 2 lots.

Likewise, the spice for delivery in May shed Rs 1.40, or 0.13 per cent to Rs 1,050 per kg in 6 lots.

Analysts said offloading of positions by participants owing to tepid demand in the physical market against adequate stocks position on higher supplies from producing belts kept cardamom prices down at futures trade.

Crude palm oil
Crude palm oil prices weakened by 0.20 per cent to Rs 654 per 10 kg in futures trade today as speculators reduced exposure amid easing demand in the spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in April declined by Rs 1.30, or 0.20 per cent to Rs 654 per 10 kg in business turnover of 48 lots.

Likewise, the oil for delivery in May shed 90 paise, or 0.14 per cent to Rs 659.30 per 10 kg in 28 lots.

Analysts said cutting down of positions by participants owing to slackened demand in the physical market against adequate stocks position led to the fall in crude palm oil futures.