Agro Outlook
Mentha oil prices fell by 1.29 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 June 2014 contract, at MCX,
were trading at Rs. 794.70 per kg, down by 1.29 per cent after opening at Rs. 803.60 against the
previous closing price of Rs. 805.10. It touched the intra-day low of Rs. 791.60 till the trading.
(At 2.34 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.
CASTORSEED
Castorseed prices rose by 0.37 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. 4,110 per
quintal tonnes, up by 0.37 per cent, after opening at Rs. 4,124 against the previous closing price
of Rs. 4,095. It touched the intra-day high of Rs. 4,124 till the trading. (At 12.40 PM today).
Castor is a non-edible oilseed crop; basically a cash crop, with average 46 per cent oil recovery.
DAILY BUZZ
MENTHA OILMentha oil prices fell by 1.29 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 June 2014 contract, at MCX,
were trading at Rs. 794.70 per kg, down by 1.29 per cent after opening at Rs. 803.60 against the
previous closing price of Rs. 805.10. It touched the intra-day low of Rs. 791.60 till the trading.
(At 2.34 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.
CASTORSEED
Castorseed prices rose by 0.37 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. 4,110 per
quintal tonnes, up by 0.37 per cent, after opening at Rs. 4,124 against the previous closing price
of Rs. 4,095. It touched the intra-day high of Rs. 4,124 till the trading. (At 12.40 PM today).
Castor is a non-edible oilseed crop; basically a cash crop, with average 46 per cent oil recovery.
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