Agro Outlook
Castorseed prices fell by 0.38 per cent on Friday 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. At the NCDEX, castor seed futures for December 2014 contract was trading at Rs. 4,730 per quintal tonnes, down by 0.38 per cent, after opening at Rs. 4,739 against the previous closing price of Rs. 4,748. It touched the intra-day low of Rs. 4,708 till the trading. (At 12.20 PM today). 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.
MENTHAOIL
Mentha oil prices fell by 0.06 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 December 2014 contract, at MCX, were trading at Rs. 724.20 per kg, down by 0.06 per cent after opening at Rs. 727.30 against the previous closing price of Rs. 724.60. It touched the intra-day low of Rs. 721.60 till the trading. (At 2.45 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.
D A I L Y B U Z Z
CASTORSEEDCastorseed prices fell by 0.38 per cent on Friday 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. At the NCDEX, castor seed futures for December 2014 contract was trading at Rs. 4,730 per quintal tonnes, down by 0.38 per cent, after opening at Rs. 4,739 against the previous closing price of Rs. 4,748. It touched the intra-day low of Rs. 4,708 till the trading. (At 12.20 PM today). 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.
Mentha oil prices fell by 0.06 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 December 2014 contract, at MCX, were trading at Rs. 724.20 per kg, down by 0.06 per cent after opening at Rs. 727.30 against the previous closing price of Rs. 724.60. It touched the intra-day low of Rs. 721.60 till the trading. (At 2.45 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.
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