Agro Outlook
Jeera prices closed lower by 0.38 per cent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) on account of a surge in the supply from the producing regions in the midst of a decline in the export demand. At the NCDEX, jeera futures for January 2015contract closed at Rs. 15,590 per quintal, down by 0.38 per cent, after opening at Rs. 15,620 against the previous closing price of Rs. 15,650. It touched the intra-day low of Rs. 15,425. Global output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year. India exports Jeera mainly to the US, UK, UAE, Japan, Brazil, Bangladesh, Singapore and many other countries.
MENTHA OIL
Mentha oil prices rose by 1.56 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 January 2015 contract, at MCX, were trading at Rs. 742 per kg, up by 1.56 per cent after opening at Rs. 730.90 against the previous closing price of Rs. 730.60. It touched the intra-day high of Rs. 742.70 till the trading. (At 2.45 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 PradesAbout 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
JEERAJeera prices closed lower by 0.38 per cent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) on account of a surge in the supply from the producing regions in the midst of a decline in the export demand. At the NCDEX, jeera futures for January 2015contract closed at Rs. 15,590 per quintal, down by 0.38 per cent, after opening at Rs. 15,620 against the previous closing price of Rs. 15,650. It touched the intra-day low of Rs. 15,425. Global output of Jeera is around 2.2 lakh MT per year, of which India produces about 1.5 lakh MT per year. India exports Jeera mainly to the US, UK, UAE, Japan, Brazil, Bangladesh, Singapore and many other countries.
Mentha oil prices rose by 1.56 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 January 2015 contract, at MCX, were trading at Rs. 742 per kg, up by 1.56 per cent after opening at Rs. 730.90 against the previous closing price of Rs. 730.60. It touched the intra-day high of Rs. 742.70 till the trading. (At 2.45 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 PradesAbout 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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