Mentha oil futures little changed on muted physical demand

Mentha oil futures were little changed during morning trade in the domestic market on Friday as investors and speculators remained on the sidelines in the agri-commodity amid muted physical demand for mentha oil from major consuming industries in the domestic spot market.

Further, trimming of positions by traders in the spot market was due to fall in physical demand for mentha oil from consuming industries at the domestic spot market against sufficient stocks position on higher supplies from producing regions, influenced mentha oil prices at futures trade.

At the MCX, mentha oil futures for February 2017 contract is trading at Rs 1002.90 per kg, down by 0.02 per cent, after opening at Rs 1005.30, against the previous closing price of Rs 1003.10. It touched the intra-day low of Rs 1001.

Read more - Mentha Oil Updates

Cabinet okays MoU with UAE for cooperation in agriculture

 

The government has approved the signing of an agreement between India and the United Arab Emirates in the area of agriculture and allied sectors.

"The Union Cabinet, chaired by the Prime Minister Narendra Modi, has given its approval for signing of Memorandum of Understanding (MoU) between India and the United Arab Emirates in the field of agriculture and allied sectors," an official statement said.

"It will promote understanding of best agricultural practices in the two countries and will help in better productivity at farmer fields as well as improved global market access leading to equity and inclusiveness," it said.

The cooperation in agricultural technology would lead to innovative techniques for increasing productivity leading to strengthening of food security, the statement said.

 

Read more - Agro Updates

Muted demand drags down mentha oil futures by 0.45% in market

Mentha oil futures were trading lower during morning trade in the domestic market on Friday as investors and speculators remained on the sidelines in the agri-commodity amid slide in physical demand for mentha oil from major consuming industries in the domestic spot market.

Further, trimming of positions by traders in the spot market was due to fall in physical demand for mentha oil from consuming industries at the domestic spot market against sufficient stocks position on higher supplies from producing regions, influenced mentha oil prices at futures trade.

At the MCX, mentha oil futures for January 2017 contract is trading at Rs 1038 per kg, down by 0.45 per cent, after opening at Rs 1042, against the previous closing price of Rs 1042.70. It touched the intra-day low of Rs 1037.40 .

Read More - Mentha Oil Updates

Agro Updates - Cardamom futures slip on sluggish physical demand

Cardamom futures fell during the morning trade in the domestic market on Thursday as investors and speculators remained on the sidelines in the agri-commodity amid fall in physical demand for cardamom in the domestic spot market.

Further, sufficient supplies on higher physical arrivals from the major cardamom producing regions, too influenced the downtrend in the domestic cardamom prices.

At the MCX, cardamom futures for January 2017 contract is trading at Rs 1,352 per kg, down by 0.16 per cent, after opening at Rs 1,345, against a previous close of Rs 1,354.20. It touched the intra-day low of Rs 1,345.

Read More - Cardamom updates

Today Cardamom futures lifts by 0.49% on Uptick in demand

 

Cardamom futures were trading higher during morning trade in the domestic market on Wednesday as investors and speculators build up fresh positions in the agri-commodity amid uptick in physical demand for cardamom in the domestic spot market. Further, insufficient supplies on restricted physical arrivals from the major cardamom producing regions, supported the uptrend in the domestic cardamom prices.

At the MCX, cardamom futures for January 2017 contract is trading at Rs 1,345 per kg, up by 0.49 per cent, after opening at Rs 1,335, against a previous close of Rs 1,338.40. It touched the intra-day high of Rs 1,348.

 

Read more -  Cardamom Updates

Agro updates - Cardamom futures Rise on pickup in demand

Cardamom futures were trading higher during the morning trade in the domestic market on Wednesday as investors and speculators build up fresh positions in the agri-commodity amid rise in physical demand for cardamom in the domestic spot market. Further, insufficient supplies amid restricted physical arrivals from the major cardamom producing regions, too supported the uptrend in the domestic cardamom prices.

At the MCX, cardamom futures for October 2016 contract is trading at Rs 1136 per kg, up by 0.40 per cent, after opening at Rs 1128, against a previous close of Rs 1131.50. It touched the intra-day high of Rs 1136

Read More - Agro updates

Today Gold up on weak US dollar At Domestic Market

Gold futures closed higher in the domestic market on Thursday as weakness in the dollar and U.S. equities and expectations of accommodative central-bank policies combined to nudge gold prices higher.

Weakness in the U.S. dollar supported gold, as did declines in the U.S. stock market on Thursday. Dollar and stock weakness can boost demand for relatively lower-risk precious metals including gold and silver.

At the MCX, Gold futures for August 2016 contract closed at Rs 30988, per 10 gram, up by 0.82 per cent after opening at Rs 30.680, against the previous closing price of Rs 30,737. It touched the intra-day high of Rs 31,045. 

 

Read More  - Gold Updates

Agro updates - Cardamom futures Drop on Muted Demand

 

Cardamom futures were trading lower during the morning trade in the domestic market on Tuesday as investors and speculators remained cautious over booking fresh positions in the agri-commodity amid muted physical demand for Cardamom in the domestic spot market.

Further, abundant supplies on higher physical arrivals from the major Cardamom producing belts in the country also exerted downward pressure on domestic Cardamom prices.

At the MCX, Cardamom futures for August 2016 contract is trading at Rs 885.80 per kg, down by 0.55 per cent, after opening at Rs 889.90, against a previous close of Rs 890.70. It touched the intra-day low of Rs 882.

 

Read More - Agro Updates

Agro updates – IN Agro Market Jeera Ends lower on weak Demand .

 

Jeera prices closed lower by 0.64 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) on account of a surge in the supply from the producing regions in the midst of a decline in the export demand. At the NCDEX, jeera futures for June 2016 contract closed at Rs. 16,240 per quintal, down by 0.64 per cent, after opening at Rs. 16,360 against the previous closing price of Rs. 16,345. It touched the intra-day low of Rs. 16,175.

Global output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year.

India exports Jeera mainly to the US, UK, UAE, Japan, Brazil, Bangladesh, Singapore and many other countries. Other Major exporters are Syria and Turkey. 

 

Read More - Agro Updates 

Agro Update - Cardamom Rises 2.93 pct on Bullish Demand.

Cardamom prices rose by 2.93 per cent on Thursday early morning market at the Multi Commodity Exchange (MCX) on account of good buying support from both exporters and upcountry buyers and also on hopes of improved export demand. Further, restricted supply from major producing belt added to the rise in price.

At MCX, Cardamom futures for May 2016 contract were trading at Rs 833 per kg, up by 2.93 per cent, after opening at Rs. 833 against the previous closing price of Rs. 809.30. It touched the intra-day high of Rs. 833 till the trading.The important markets for cardamom in India are Vandanmendu, Bodinayakanur, Kumily, Thekkady, Kumbum and Pattiveeran Patti in Kerala.

 

Read More - Cardamom updates .

Jeera Updates - Jeera Closes Higher As Demand Picks UP

 

Jeera prices closed higher by 1.34 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the investors increased their holdings in the commodity in the midst limited arrivals from growing regions. At the NCDEX, jeera futures for May 2016 contract closed at Rs. 16,640 per quintal, up by 1.34 per cent, after opening at Rs. 16,310 against the previous closing price of Rs. 16,420. It touched the intra-day high of Rs. 16,990.
 

Sentiment improved further as a result of reduced domestic supplies in the physical markets and some export enquiries.
 

Global output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year. India exports Jeera mainly to the US, UK, UAE, Japan, Brazil, Bangladesh, Singapore and many other countries. Other Major exporters are Syria and Turkey.
 

Read more – Agro Updates .

Get Agro Updates & free Commodity Calls & Starts Gaining With Us .

Jeera prices closed lower by 0.74 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) on account of a surge in the supply from the producing regions in the midst of a decline in the export demand. At the NCDEX, jeera futures for May 2016 contract closed at Rs. 16,780 per quintal, down by 0.74 per cent, after opening at Rs. 16,885 against the previous closing price of Rs. 16,905. It touched the intra-day low of Rs. 16,700.

Global output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year.

India exports Jeera mainly to the US, UK, UAE, Japan, Brazil, Bangladesh, Singapore and many other countries. Other Major exporters are Syria and Turkey.

Read More - Agro updates 

Agro Updates - Chana Ends lower on Higher Arrivals

Chana prices closed lower by 2.19 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the steady sowing progress of pulses along with high supplies in major producing states. At the NCDEX, chana futures for May 2016 contract closed at Rs. 5,399 per quintal, down by 2.19 per cent, after opening at Rs. 5,487 against the previous closing price of Rs. 5,520. It touched the intra-day low of Rs. 5,355.
 

India is the largest producer of chickpea followed by Pakistan, Turkey and Iran. India produces around 6 to 8 million tonnes and contributes around 70 per cent of the total world production.
 

Read More – Chana Tips

Agro Tips - Maize Closes Lower On High Selling Pressure

Maize prices ended lower by 0.16 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of heavy selling activity by the traders on account of higher global supplies and weak offtakes from the local buyers. At the NCDEX, maize futures for May 2016 contract closed at Rs. 1,242 per quintal, down by 0.16 per cent, after opening at Rs. 1,246 against the previous closing price of Rs. 1,244. It touched the intra-day low of Rs. 1,241.
 

Sentiment weakened further as a result of a decline in the demand for the commodity from bio-fuel making industries tracking the weak global markets.
 

USA, China and Brazil are the top three maize producing countries in the world while the prominent exporters of maize are USA, Argentina and Brazil. Chief importers are Japan, EU, Malaysia, Taiwan, Indonesia etc.

 

Read More - Agro Updates 

Agro updates - Jeera Ends Lower On Sluggish Demand

Jeera prices closed lower by 0.89 per cent on Tuesday at the National Commodity & Derivatives Exchange Limited (NCDEX) on account of a surge in the supply from the producing regions in the midst of a decline in the export demand. At the NCDEX, jeera futures for May 2016 contract closed at Rs. 16,785 per quintal, down by 0.89 per cent, after opening at Rs. 16,915 against the previous closing price of Rs. 16,935. It touched the intra-day low of Rs. 16,720.
 

Global output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year.
 

India exports Jeera mainly to the US, UK, UAE, Japan, Brazil, Bangladesh, Singapore and many other countries. Other Major exporters are Syria and Turkey.

 

Read More - Agro updates .

Top Headlines of Stock Market on 22nd of April

                                              Stock Market News 

• Asia lower; ASX down 0.6%, Nikkei drops 0.3%, Kospi loses 0.4%
• Wall Street cedes ground after mixed bag of earnings
• Modi passionate about developing country: Mahesh Sharma
• Vodafone invites banks to pitch for $2-2.5 bn Indian IPO
• Banks need structural, internal upgrades to reduce NPLs
• ECB keeps rates unchanged at record low as expected
• HDFC Bank Q4 profit seen up 21%, retail may drive loan growth
• Govt unlikely to push labour reforms bills in next Parl session
• Stocks in news: Tata Steel, DHFL, Dishman Pharma, SKS Micro
• Bull's Eye: Buy Infosys, REC, EIL; sell TVS Motor, Wockhardt
• Exclusive : Govt kick-starts NMDC stake sale process, invites bids
• ATC concludes Viom purchase for Rs 7,635 crore
• Rajan, Pichai, Bansals among 100 most influential people: TIME
• FinMin looks to expedite clearances to FDI proposals
• Need level-playing field for algo trades, Sebi tells brokers
• Solar firm SunEdison files for bankruptcy
• Uttarakhand battle shifts to Delhi, Centre to move SC
• Read More - Stock tips

Mustard Seed Ends lower On Sluggish Demand

Mustard Seed prices closed lower by 1.4 per cent on Wednesday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the profit booking by the traders on account of the weak crushing and export demand of mustard meal. At the NCDEX, Mustard Seed futures for May 2016 contract closed at Rs. 4,518 per quintal, down by 1.4 per cent, after opening at Rs. 4,629 against the previous closing price of Rs. 4,582. It touched the intra-day low of Rs. 4,480. 

 

Sentiment weakened further due to the sluggish export demand as a result of the weak demand for the commodity.
 

EU-27 accounts to about 34 per cent of worlds RM seed production, others major producers are China (23 per cent), Canada (19 per cent), India (14 per cent), Australia (3 per cent), Ukraine (2 per cent). India produces 5.5 million MT to7 million MT annually. 

 

Read More - Mustard Seeds

Sufficient Agri production Despite of Adverse circumstances: Singh

Union Agriculture & Farmers Welfare Minister, Radha Mohan Singh on Monday said that government is taking concrete steps to remove debt problems of the farmers.

 

“The government has increased Agricultural Credit target Rs. 9 lakh crore for the year 2016-17 to bring the farmers within institutional fold, adding that government is taking long term measures to remove the problems of the farmers,” he said while speaking at two days Kharif Conference being held at NASC-ICAR Institute Pusa, New Delhi.

The Agriculture Minister informed that it is for the first time that the representatives of agriculture and related sectors have been invited for the conference. Shri Singh observed that inspite of a severe loss to the crops owing to unseasonable rainfall, hailstorm and other natural calamities, the whole food grain production which was 252.02 million tons in 2014-15 as per advance estimate (15.2.2016), it has been increased to 253.16 million tones on 2015-16.

Speaking at the occasion he said that, the government has to double the farmers income in the next five years as is announced in the budget 2016-17. Hon’ble Prime Minister has suggested 7 points to achieve the target.

The Government has increased budgetary provision in irrigation sector. Government aims at ‘more crop per drop’. Government policy is focused on water preservation and irrigation. Government is working hard to increase the productions of other crops alongwith paddy and oilseeds.

Government has decided last year to produce only neem coated urea so that plants get nutrients easily. Rs 20,000 per acre are being provided to the farmers to encourage them to adopt organic farming.

To increase the income of farmers by reducing their marketing expenditure: A national agriculture market is being set up for electronic trading. In this programme, 585 agriculture mandis of India will be connected to each other. The farmers will get maximum price of their crops and the interference of mediators will be reduced to a greater extent. Direct foreign investment is also being encouraged in this field. 

 

Read More - Agro Updates .

Agro Updates - Jeera Ends lower on weak Demand

Jeera prices closed lower by 1.8 per cent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) on account of a surge in the supply from the producing regions in the midst of a decline in the export demand. At the NCDEX, jeera futures for April 2016 contract closed at Rs. 16,115 per quintal, down by 1.8 per cent, after opening at Rs. 16,400 against the previous closing price of Rs. 16,410. It touched the intra-day low of Rs. 16,085.

Global output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year.
 

India exports Jeera mainly to the US, UK, UAE, Japan, Brazil, Bangladesh, Singapore and many other countries. Other Major exporters are Syria and Turkey.

 

Read More - Jeera Tips

Agro updates - Chana Ends Higher On Restricted Stocks.

Chana prices closed higher 3.45 per cent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the traders enlarged their holdings in the commodity on account of the good demand in the market. At the NCDEX, chana futures for April 2016 contract closed at Rs. 5,100 per quintal, up by 3.45 per cent, after opening at Rs. 4,972 against the previous closing price of Rs. 4,930. It touched the intra-day high of Rs. 5,127.

 

Moreover, the restricted arrivals of the commodity in the physical market due to lower estimated output also influenced the chana prices.

 

Read more – Agro updates . 

 

India is the largest producer of chickpea followed by Pakistan, Turkey and Iran. India produces around 6 to 8 million tonnes and contributes around 70 per cent of the total world production.