Agro Outlook
Castorseed prices fell by 3.14 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of fresh supply of the commodity in the major mandies as well as strong production estimates. Castor oil, extracted from castor seed is the largest vegetable oil exported out of India. India is the biggest exporter of castor oil holding about 70 per cent share of the international trade in this commodity followed by China & Brazil. At the NCDEX, castor seed futures for September 2014 contract was trading at Rs. 4,067 per quintal tonnes, down by 3.14 per cent, after opening at Rs. 4,172 against the previous closing price of Rs. 4,199. It touched the intra-day low of Rs. 4,055 till the trading.
CARDAMOM
Cardamom prices fell by 2.22 per cent on Monday 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. Sentiment weakened further as the traders booked profits at the prevailing levels in the midst of a subdued demand for the commodity. At MCX, Cardamom futures for September 2014 contract were trading at Rs. 918.70 per kg, down by 2.22 per cent, after opening at Rs. 928 against the previous closing price of Rs. 939.60. It touched the intra-day low of Rs. 912.00 till the trading.
D A I L Y B U Z Z
CASTOR SEEDCastorseed prices fell by 3.14 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of fresh supply of the commodity in the major mandies as well as strong production estimates. Castor oil, extracted from castor seed is the largest vegetable oil exported out of India. India is the biggest exporter of castor oil holding about 70 per cent share of the international trade in this commodity followed by China & Brazil. At the NCDEX, castor seed futures for September 2014 contract was trading at Rs. 4,067 per quintal tonnes, down by 3.14 per cent, after opening at Rs. 4,172 against the previous closing price of Rs. 4,199. It touched the intra-day low of Rs. 4,055 till the trading.
CARDAMOM
Cardamom prices fell by 2.22 per cent on Monday 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. Sentiment weakened further as the traders booked profits at the prevailing levels in the midst of a subdued demand for the commodity. At MCX, Cardamom futures for September 2014 contract were trading at Rs. 918.70 per kg, down by 2.22 per cent, after opening at Rs. 928 against the previous closing price of Rs. 939.60. It touched the intra-day low of Rs. 912.00 till the trading.
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