Agri commodities: Mentha oil up 0.58%; cardamom zooms

Mentha oil prices were up 0.58 per cent to Rs 926.90 per kg in futures market today as participants widened their holdings on the back of rising demand from consuming industries at the spot market.

Tight stocks position following restricted arrivals from major producing belts of Chandausi in Uttar Pradesh also support to mentha oil prices uptrend.

At the Multi Commodity Exchange, mentha oil for delivery this month contract rose by Rs 5.40, or 0.58 per cent, to Rs 926.90 per kg, clocking a business volume of 119 lots.

The oil for June delivery traded higher by Rs 4.10, or 0.44 per cent, to Rs 930 per kg, with a trading volume of 27 lots.

Analysts said fresh positions built up by speculators, driven by rising demand from consuming industries in the spot markets against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.

Cardamom
Cardamom prices were trading up by 2.39 per cent to Rs 1,067 per kg in futures trade today as speculators enlarged their positions amid an upsurge in physical demand in the domestic spot market.

Further, tight supplies from major producing regions also supported the upside in cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in June month contract rose by Rs 24.90, or 2.39 per cent, to Rs 1,067 per kg with trading volume of 102 lots.

Similarly, spice for delivery this month contract increased by Rs 12.90, or 1.03 per cent, to Rs 1,256.40 per kg in 66 lots.

Traders said widening of positions by participants, driven by surge in demand at the spot market against restricted supplies from producing regions, mainly kept cardamom prices higher at futures trade.

Crude palm oil
Crude palm oil prices were up by 0.41 per cent to Rs 491 per 10 kg in futures trade today as speculators indulged in enlarging positions, driven by a firm demand at the spot market.

Besides, a firming trend in overseas markets supported the uptrend.

At the Multi Commodity Exchange, crude palm oil for delivery this month contract rose by Rs 2, or 0.41 per cent, to Rs 491 per 10 kg, in a business turnover of 149 lots.

Similarly, the oil for delivery in June month contract went up by Rs 1.90, or 0.40 per cent, to Rs 476.60 per 10 kg in 42 lots.

Analysts said widening of positions by participants amid pick up in demand in the spot market against tight stocks position on restricted supplies from producing regions mainly kept crude palm oil prices higher at futures trade.