Market News: Cardamom prices fell by 0.24 per cent on Thursday at the Multi Commodity Exchange (MCX) due to the adequate stocks availability in the physical market on account of higher supply from the producing belts of Chandausi in Uttar Pradesh. At MCX , Cardamom futures for April 2015 contract were trading at Rs. 983.80 per kg, down by 0.24 per cent, after opening at Rs. 988 against the previous closing price of Rs. 986.20. It touched the intra-day low of Rs. 977 till the trading. Sentiment weakened further as the traders booked profits at the prevailing levels in the midst of a subdued demand for the commodity. Kerala (70 per cent), Karnataka (20 per cent) and Tamil Nadu (10 per cent) are the cardamom growing states in India while about 90 per cent of the produce is consumed within the nation. The important markets for cardamom in India are Vandanmendu, Bodinayakanur, Kumily, Thekkady, Kumbum and Pattiveeran Patti in Kerala.
Coriander prices rose by 1.69 per cent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the limited stocks on account of restricted arrivals from the major growing belts . At the NCDEX, coriander futures for April 2015 contract was trading at Rs. 6,555 per quintal, up by 1.69 per cent after opening at Rs. 6,476 against the previous closing price of Rs. 6,446. It touched the intra-day high of Rs. 6,579 till the trading.
Sentiment improved further as the investors enlarged their holdings tracking the surge in the demand for the commodity.
Coriander is common in South Asian, Middle Eastern, Central Asian, Mediterranean, Indian, Tex-Mex, Latin American, Portuguese, Chinese, African, and Scandinavian cuisine.
Crude oil prices rose by 1.17 per cent on Thursday at the domestic markets after household confidence in Japan rose more-than-expected last month, official data showed on Thursday signaling improving sentiment in the region which raised the demand outlook for the fuel. In a report, Cabinet Office said that Japanese Household Confidence rose to a seasonally adjusted annual rate of 40.7, from 39.1 in the preceding month. At the MCX, crude oil futures for March 2015 contract were trading at Rs. 3,035 per barrel, up by 1.17 per cent, after opening at Rs. 3,021 against the previous closing price of Rs. 3,000. It touched the intra-day high of Rs. 3,040 till the trading.
Gold futures rose by 0.04 per cent on Thursday at the domestic markets as normal demand flows in China and India for physical gold were eyed after recent sharp dips. Further, a weaker dollar raised the appeal of the bullion as an alternative asset. Weaker dollar makes the precious metal cheaper for those holding other currencies, thus increasing demand. At the MCX, Gold futures for February 2015 contract was trading at Rs 25,696 per 10 gram , up by 0.04 per cent after opening at Rs 25,660, against the previous closing price of Rs 25,685. It touched the intra-day high of Rs 25,697 till the trading.
Copper prices fell by 0.03 per cent on Thursday at the domestic markets after Japan’s Business Index Survey of large manufacturing conditions fell more-than-expected in the last quarter signaling weak sentiment in the region which reduced the demand outlook for the metal. In a report, Ministry of Finance said that BSI large manufacturing conditions fell to a seasonally adjusted annual rate of 2.4, from 8.1 in the preceding quarter. At the MCX, copper futures for April 2015 contract were trading at Rs.364.95 per 1 kg, down by 0.03 per cent, after opening at Rs. 364.35 against the previous closing price of Rs. 365.05. It touched the intra-day low of Rs. 364.25 till the trading.
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