Agri-commodity: Mentha oil, crude palm oil, cardamom rise on strong demand

Mentha oil prices rose by another 0.10 per cent to Rs 1,181.40 per kg in futures trading today as participants engaged in building of positions on the back of rising demand from consuming industries in the spot market.

At the Multi Commodity Exchange, mentha oil for delivery September rose by Rs 1.20, or 0.10 per cent to Rs 1,181.40 per kg in business turnover of 163 lots.

Likewise, the oil for delivery in October edged up by 70 paise, or 0.06 per cent to Rs 1,194.50 per kg in 60 lots.

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

Crude palm oil
Crude palm oil prices advanced by 0.62 per cent to Rs 539.30 per 10 kg in futures trade today as speculators engaged in enlarging positions, tracking a firm trend at spot market on rising demand.

At the Multi Commodity Exchange, crude palm oil for delivery in October rose by Rs 3.30, or 0.62 per cent to Rs 539.30 per 10 kg in business turnover of 222 lots.

Similarly, the oil for delivery in September contracts edged up by Rs 2.10, or 0.39 per cent to Rs 542 per 10 kg in 145 lots.

Analysts said widening of positions by participants on the back of strong demand in the spot market against restricted supplies from producing regions, mainly kept crude palm oil prices higher at futures trade.

Cardamom
Cardamom prices edged higher by 0.50 per cent to Rs 1,144.50 per kg in futures market today as speculators built up fresh positions amid uptick in demand in the spot market.

At the Multi Commodity Exchange, cardamom for delivery in October rose by Rs 5.70, or 0.50 per cent to Rs 1,144.50 per kg in business turnover of 5 lots.

Similarly, the spice for delivery in November contracts gained Rs 3.10, or 0.28 per cent to Rs 1,120 per kg in 44 lots.

Analysts attributed the rise in cardamom futures to fresh positions created by traders due to pick up in demand in the physical market, mainly influenced cardamom prices at futures trade.