Sluggish physical demand drags down mentha oil futures by 0.52%

 

Mentha oil futures were trading lower during morning trade in the domestic market on Tuesday 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 February 2017 contract is trading at Rs 1039.50 per kg, down by 0.52 per cent, after opening at Rs 1046.60, against the previous closing price of Rs 1044.90. It touched the intra-day low of Rs 1038.60.

Read More - Mentha oil Updates

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

Today Cardamom futures zoom 3% as demand picks up

 

Cardamom futures were trading higher during the morning trade in the domestic market on Monday 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, too supported the uptrend in the domestic cardamom prices.

At the MCX, cardamom futures for November 2016 contract is trading at Rs 1318.50 per kg, up by 3 per cent, after opening at Rs 1299, against a previous close of Rs 1280.10. It touched the intra-day high of Rs 1318.50.

 

Read More - Cardamom  Updates

Mentha oil futures drags down by 1.01% by Muted Demands

 

Mentha oil futures were trading lower during the morning trade in the domestic market on Monday as participants indulged in offloading their positions in the agri-commodity amid fall in physical demand from major consuming industries for mentha oil in the domestic spot market.

Further, a drop in demand for mentha oil futures was attributed to cut down of bets by traders in the spot market, influenced prices of mentha oil at futures trade.

At the MCX, mentha oil futures for September 2016 contract were trading at Rs 889.10 per kg, down by 1.01 per cent after opening at Rs 895, against the previous closing price of Rs 898.20. It touched the intra-day low of Rs 888.80.

 

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Agro Updates - Cardamom futures up on strong Demand

 

Cardamom futures were trading higher during the morning trade in the domestic market on Tuesday after speculators widened their positions supported by rising demand in the spot market.

Further, restricted supplies from producing regions and rising domestic as well as export demand in the spot market also fuelled the uptrend. 

 

At MCX, Cardamom futures for August 2016 contract is trading at Rs 936.40 per kg, up by 0.11 per cent, after opening at Rs 937, against a previous close of Rs 935.40. It touched the intra-day hiigh of Rs 938.

 

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India's crop protection industry to be worth $6.3 bn by 2020

 

Indian crop protection industry is estimated to grow by 7.5 per cent per annum to reach USD 6.3 billion by 2020, according to a report by Tata Strategic Management Group.
 

The report 'Next Generation Indian Agriculture - Role of Crop Protection Solutions' was released today by Hukumdev Narayan Yadav, Chairman, Standing Committee of Parliament on Agriculture and Farmers Welfare.

"As per the report, Indian crop protection Industry is estimated at USD 4.4 billion in FY 2014-15 of which 47 per cent are exports. The crop protection industry is expected to grow further at 7.5 per cent per annum to reach USD 6.3 billion by FY 2019-20," the report said as per the PTI.

The industry is dominated by insecticides which contribute to 60 per cent of the overall demand, followed by fungicides and herbicides which account for 18 per cent and 16 per cent of the demand respectively, the company said in a statement.

"Agrochemicals play a critical role in ensuring food and nutrition security of the nation. With estimated 355 million tonnes per annum food grain requirement by 2030 from current 253 million tonnes, efficient usage of crop protection products and solutions for Indian agriculture are the need of the hour," said Manish Panchal, Sr. Practice Head - Chemicals & Energy at Tata Strategic Management Group.

In order to realise the true potential, Industry, Government and Regulatory bodies need to work in tandem and embrace digital technologies to further improve farmer connect, he added.

The report highlights that the Indian agriculture sector is facing critical challenges like reduction in arable land, decreasing farm size, increasing pest attacks, low per hectare yield and a shift towards animal products consumption, all of which are leading to demand outpacing supply in the country's food chain.

"Agrochemicals could play a significant role in overcoming this imbalance," the report said. 

 

Read More - Indian Crop Protection

Agro Update – Today Cardamom Rises on pick up in Demand In Domestic market

Cardamom futures were trading higher during the morning trade in the domestic market on Thursday as traders widened their positions led by rise in demand in the spot market.

Further, rise in demand in the spot market amid restricted supplies from producing regions following end of the harvesting season, too fuelled the uptrend.

At the MCX, Cardamom futures for July 2016 contract is trading at Rs 862.70 per kg, up by 0.28 per cent, after opening at Rs 862, against a previous close of Rs 860.30. It touched the intra-day high of Rs 864.

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Cardamom Rises 0.73% on Strong Buying Support

Cardamom prices rose by 0.73 per cent on Thursday 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. At MCX, Cardamom futures for June 2016 contract were trading at Rs 826.50 per kg, up by 0.73 per cent, after opening at Rs. 821 against the previous closing price of Rs. 820.50. It touched the intra-day high of Rs. 827.80 till the trading. Sentiment improved further as a result of firm demand in the market against restricted arrivals from producing belts of Chandausi in Uttar Pradesh.
 

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.

 

Read More -  Cardamom Updates

Agro Updates - Jeera Ends Lower On Waning Demand

Jeera prices closed lower by 1.56 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 June 2016 contract closed at Rs. 16,105 per quintal, down by 1.56 per cent, after opening at Rs. 16,370 against the previous closing price of Rs. 16,360. It touched the intra-day low of Rs. 16,050.
 

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.

Top Headlines For Todays Stock Market

                                                         Stock Market Headlines

• Sensex, Nifty open weak; Adani Ports falls 5%, Hindalco down.
• Jindal brothers sign $976 million power deal .
• Asian markets mostly lower, ASX down 1.2%, HK down 1%.
• Wall Street loses ground on growth fears, oil slide .
• Global sell-off a passing phase, rally to resume later .
• Trump wins Indiana primary; becomes GOP presumptive nominee .
• Brexit could 'loom large' over June policy meeting: Lockhart .
• GST, land reforms key to boost India's economic growth:
• See Brent at $50/bbl by year-end; weak $ to aid gold rally.
• Bulls Eye: Buy HDIL, Jet Airways, Voltas, Tata Comm, Biocon .
• Stocks in news: JSW Energy, JSPL, NTPC, Future Retail, IFCI.
• Are IPOs back in vogue? So far 2016 has been a mixed bag.
• Call drops: Telecom companies under heavy debt, SC told .
• MRF Q4 net profit up 13% to Rs 376 crore .
• Proposal to ensure air ticket for Rs 2,500 for 1-hr journeys .
• Nawaz Sharif vows to quit if proved guilty in Panama case.
• Read More - Stock Tips

Agro Updates - Jeera Closes Higher As Traders Increased Holdings

Jeera prices closed higher by 3.45 per cent on Friday 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. 17,075 per quintal, up by 3.45 per cent, after opening at Rs. 16,600 against the previous closing price of Rs. 16,505. It touched the intra-day high of Rs. 17,120. 

 

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 - Jeera 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

Agro Updates - Maize Ends Higher On Rise in Demand

Maize prices closed higher by 1.07 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of a rise in the demand from exporters and poultry industries. At the NCDEX, maize futures for May 2016 contract closed at Rs. 1,223 per quintal, up by 1.07 per cent, after opening at Rs. 1,210 against the previous closing price of Rs. 1,210. It touched the intra-day high of Rs. 1,234  Commodity markets were closed on April 19, 2016 on account of Mahavir Jayanti.

 

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 

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 Tips - Jeera Ends lower On Demand Concerns

Agro Tips - Jeera prices closed lower by 1.83 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 March 2016 contract closed at Rs. 13,150 per quintal, down by 1.83 per cent, after opening at Rs. 13,465 against the previous closing price of Rs. 13,395. It touched the intra-day low of Rs. 13,090. 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.

Mentha oil futures drags down on Profit taking

Mentha oil prices fell by 0.14 per cent on Thursday at the Multi Commodity Exchange (MCX) as a result of the increased arrivals of the commodity in the physical market from the major producing belts in Uttar Pradesh.

 

At MCX, Mentha oil futures for January 2016 contract, were trading at Rs. 864.20 per kg, down by 0.14 per cent after opening at Rs. 861.70 against the previous closing price of Rs. 865.40. It touched the intra-day low of Rs. 859.80 till the trading. (At 2.30 PM today). 

 

Sentiment weakened further as the investors indulged in profit-booking in the midst of a fall in demand in the spot market.
 

About 80 per cent of the crop in India comes from Uttar Pradesh (Rampur, Moradabad, Bareilly, Barabanki and Badaun) and the balance 20 per cent from Punjab, Himachal Pradesh and Haryana.

Agro Updates - Chana Ends Lower As Demand Weakens

Agro Updates - Chana prices closed lower by 0.51 per cent on Thursday 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 April 2016 contract closed at Rs. 4,253 per quintal, down by 0.51 per cent, after opening at Rs. 4,275 against the previous closing price of Rs. 4,275. It touched the intra-day low of Rs. 4,220.
 

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.

Agro Update - Cardamom falls 0.64% on sluggish Demand

Cardamom prices fell by 0.64 per cent on Friday 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 January 2016 contract were trading at Rs. 820 per kg, down by 0.64 per cent, after opening at Rs. 821 against the previous closing price of Rs. 825.30. It touched the intra-day low of Rs. 820 till the trading. (At 10.45 AM today). 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.

Commodity Updates - Jeera Ends Lower on Weak Demand

Jeera Tips - Jeera prices closed lower by 0.73 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 January 2016 contract closed at Rs. 13,600 per quintal, down by 0.73 per cent, after opening at Rs. 13,700 against the previous closing price of Rs. 13,700. It touched the intra-day low of Rs. 13,365. 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.

Zinc Extends Losses On Weak Physical Demand

Zinc futures ended lower in the domestic market on Tuesday as investors and speculators exited positions in the industrial metal amidst subdued physical demand for zinc in the domestic spot market. Further, a gloomy demand outlook in China, the world’s biggest metals consumer, weighed as the country’s manufacturing activity contracted for the tenth month on the trot in December while stocks in China extended a New Year rout, with the benchmark Shanghai Composite falling 0.26 per cent even after the Chinese securities market regulator vowed to combat stock market volatility by improving a circuit breaker system that saw stock trading halted amidst Monday’s severe sell-off, while the People’s Bank of China pumped in cash into the banking system via the biggest reverse repurchase agreements since September. At the MCX, Zinc futures for January 2016 contract closed at Rs 104.35 per kg, down by 0.14 per cent after opening at Rs 104.45, against the previous closing price of Rs 104.5. It touched the intra-day low of Rs 103.65.