Saturday, 31 May 2014

NCDEX TIPS FOR THE WEEK AS ON JUNE 02, 2014

Agro Outlook
                                                              DAILY BUZZ
MENTHA OIL

Mentha oil prices fell by 0.12 per cent on Friday 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 May 2014 contract, at MCX, were trading at Rs. 807.70 per kg, down by 0.12 per cent after opening at Rs. 806.50 against the previous closing price of Rs. 808.70. It touched the intra-day low of Rs. 804 till the trading. (At
2.30 PM today).


CASTORSEED
Castorseed prices rose by 3.61 per cent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the rise in demand from consuming industries against restricted arrivals in domestic markets which in turn encouraged the investors to enlarge their holdings. At the NCDEX, castor seed futures for June 2014 contract were trading at Rs. 3,935 per quintal tonnes, up by 3.61 per cent, after opening at Rs. 3,824 against the previous closing price of Rs. 3,798. It touched the intra-day high of Rs. 3,947 till the trading. (At 4.10 PM today). Castor is a non-edible oilseed crop; basically a cash crop, with average 46 per cent oil recovery.


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