Agro Outlook
MENTHAOIL
Mentha oil prices fell by 1.13 per cent on Monday at the Multi Commodity Exchange (MCX) on back of profit booking at higher levels. The sentiment weakened further as a result of increased arrivals of the commodity in the physical market from the major producing belts in Uttar Pradesh.At MCX, Mentha oil futures for December 2014 contract, at MCX, were trading at Rs. 714.60 per kg, down by 1.13 per cent after opening at Rs. 720.00 against the previous closing price of Rs. 722.80. It touched the intra-day low of Rs. 709.80 till the trading. (At 4.12 PM).
CHANA
Chana prices advanced by 1.44 per cent to Rs 3595 per quintal as speculators enlarged positions amid rising domestic demand. Besides, reports of likely decline in crop output this year fuelled the uptrend. At the National Commodity and Derivatives Exchange, chana for delivery in January advanced by Rs 105 or 2.15 per cent, to Rs 3595 per quintal with an open interest of 40,780 lots. Similarly, the commodity for delivery in January gained Rs 95 or 1.95 per cent, to Rs 3580 per quintal in 76,560 lots. Analysts said apart from rising demand in spot market, restricted supplies from major producing belts led to the rise in chana prices in futures trade.
D A I L Y B U Z Z
Mentha oil prices fell by 1.13 per cent on Monday at the Multi Commodity Exchange (MCX) on back of profit booking at higher levels. The sentiment weakened further as a result of increased arrivals of the commodity in the physical market from the major producing belts in Uttar Pradesh.At MCX, Mentha oil futures for December 2014 contract, at MCX, were trading at Rs. 714.60 per kg, down by 1.13 per cent after opening at Rs. 720.00 against the previous closing price of Rs. 722.80. It touched the intra-day low of Rs. 709.80 till the trading. (At 4.12 PM).
CHANA
Chana prices advanced by 1.44 per cent to Rs 3595 per quintal as speculators enlarged positions amid rising domestic demand. Besides, reports of likely decline in crop output this year fuelled the uptrend. At the National Commodity and Derivatives Exchange, chana for delivery in January advanced by Rs 105 or 2.15 per cent, to Rs 3595 per quintal with an open interest of 40,780 lots. Similarly, the commodity for delivery in January gained Rs 95 or 1.95 per cent, to Rs 3580 per quintal in 76,560 lots. Analysts said apart from rising demand in spot market, restricted supplies from major producing belts led to the rise in chana prices in futures trade.
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