Agro Outlook
Chana prices advanced by 1.44 per cent to Rs 3,463 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 February advanced by Rs 49, or 1.44 per cent, to Rs 3,463 per quintal with an open interest of 40,780 lots. Similarly, the commodity for delivery in January gained Rs 42, or 1.25 per cent, to Rs 3,463 per quintal with an open interest of 40,780 lots. Similarly, the commodity for delivery in January gained Rs 42, or 1.25 per cent, to Rs 3,413 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.
MENTHAOIL
Mentha oil prices rose by 0.72 per cent on Friday at the Multi Commodity Exchange (MCX) due to tight stocks position in the physical market due to restricted arrivals from producing belts. At MCX, Mentha oil futures for December 2014 contract, at MCX, were trading at Rs. 723.60 per kg, up by 0.72 per cent after opening at Rs. 725.00 against the previous closing price of Rs. 718.40. It touched the intra-day high of Rs. 726.20 till the trading. (At 4.17 PM today). Sentiment improved further as traders engaged in creating positions on account of good demand from consuming industries and lower arrivals from Chandausi in Uttar Pradesh.
D A I L Y B U Z Z
CHANAChana prices advanced by 1.44 per cent to Rs 3,463 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 February advanced by Rs 49, or 1.44 per cent, to Rs 3,463 per quintal with an open interest of 40,780 lots. Similarly, the commodity for delivery in January gained Rs 42, or 1.25 per cent, to Rs 3,463 per quintal with an open interest of 40,780 lots. Similarly, the commodity for delivery in January gained Rs 42, or 1.25 per cent, to Rs 3,413 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.
Mentha oil prices rose by 0.72 per cent on Friday at the Multi Commodity Exchange (MCX) due to tight stocks position in the physical market due to restricted arrivals from producing belts. At MCX, Mentha oil futures for December 2014 contract, at MCX, were trading at Rs. 723.60 per kg, up by 0.72 per cent after opening at Rs. 725.00 against the previous closing price of Rs. 718.40. It touched the intra-day high of Rs. 726.20 till the trading. (At 4.17 PM today). Sentiment improved further as traders engaged in creating positions on account of good demand from consuming industries and lower arrivals from Chandausi in Uttar Pradesh.
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