Cardamom prices traded higher by 0.70 per cent to Rs 1,105 per kg in futures trade today as participants built up fresh positions amid upsurge in domestic as well as exports demand at the spot market.
Besides, tight stock position on fall in arrivals from major producing regions supported the price uptrend.
In futures trading at the Multi Commodity Exchange, cardamom for delivery in January traded higher by Rs 7.70, or 0.70 per cent to Rs 1,105 per kg in business turnover of 37 lots.
Similarly, the contract for February delivery was trading at Rs 1,120, up 0.19 per cent, or Rs 2.10 with trading volume of just one lot.
Analysts said fresh positions created by traders after uptick in domestic as well as exports demand in the physical market against restricted supplies from producing belts mainly led to the rise in cardamom prices at futures trade.
Crude palm oil
Crude palm oil prices were trading up by 0.53 per cent at Rs 563.90 per 10 kg in futures trade today as participants created fresh bets, supported by pick-up in demand at the spot market.
A firming trend in overseas markets also fuelled the uptrend.
In futures trading at the Multi Commodity Exchange, crude palm oil for delivery in January rose Rs 3, or 0.53 per cent, to Rs 563.90 per 10 kg in business turnover of 292 lots.
Similarly, the oil for delivery in the current month went up by Rs 1.90, or 0.34 per cent, to Rs 558 per 10 kg in 52 lots.
Analysts said fresh positions created by participants on the back of rise in demand in the physical market against restricted supplies from producing regions drove crude palm oil prices at futures trade.
Soybean prices were higher by Rs 24 to Rs 3,110 per quintal in futures trade today on expansion of holdings by the investors in tune with emerging physical market.
Marketmen attributed upsurge in soybean prices to firming trend in spot markets.
At the National Commodity and Derivative Exchange counter, soybean delivery for the most traded January month contract gained by Rs 24 or 0.78 per cent to Rs 3,110 per quintal, having an open interest of 2,43,710 lots.
The delivery for February month contract also advanced by Rs 22 or 0.70 per cent to Rs 3,166 per quintal, clocking an open interest of 1,16,720 lots.
Mentha oil prices were trading higher by 0.75 per cent to Rs 1,657 per kg in futures market today as speculators engaged in building up positions, amid pick-up in demand in domestic industries.
Besides, lower stock positions due to restricted arrivals from the major producing belts of Chandausi, gave support to mentha prices.
In futures trading at the Multi Commodity Exchange, mentha oil for delivery in the current month rose by Rs 12.30, or 0.75 per cent, to Rs 1,657 per kg, clocking a business volume of 76 lots.
The oil for January delivery rose by Rs 11.50, or 0.69 per cent, at Rs 1,684 per kg, with a trading volume of 486 lots.
Marketmen said raising of bets by speculators, driven by rising demand from consuming industries at the spot market against restricted supplies from Chandausi, led to rise in mentha oil prices in futures trade.
Source: Economic Times