Jeera prices closed lower by 1.4 %

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Jeera prices closed lower by 1.4 per cent on Monday 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 September 2015 contract closed at Rs. 15,440 per quintal, down by 1.4 per cent, after opening at Rs. 15,595 against the previous closing price of Rs.15,660. It touched the intra-day low of Rs. 15,350.
 

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. Other Major exporters are Syria and Turkey.

 

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Jeera Ends Lower On Weak Demand

Jeera prices closed lower by 1.18 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 September 2015 contract closed at Rs. 15,910 per quintal, down by 1.18 per cent, after opening at Rs. 16,180 against the previous closing price of Rs. 16,100. It touched the intra-day low of Rs. 15,850.
 

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. Other Major exporters are Syria and Turkey.

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Restricted supply, firm demand lifts Cardamom futures

Cardamom prices rose by 0.20 per cent on Thursday at the Multi Commodity Exchange (MCX) on account of good buying support from both exporters and upcountry buyers and also on hopes of improved export demand. At MCX, Cardamom futures for September 2015 contract were trading at Rs 975.40 per kg, up by 0.20 per cent, after opening at Rs. 972 against the previous closing price of Rs. 973.50. It touched the intra-day high of Rs. 976.70 till the trading. (At 10.45 AM today). Sentiment improved further as a result of firm demand in the market against restricted arrivals from producing belts of Chandausi in Uttar Pradesh.Kerala (70 per cent), Karnataka (20 per cent) and Tamil Nadu (10 per cent) are the cardamom growing states in India while about 90 per cent of the produce is consumed within the nation. The important markets for cardamom in India are Vandanmendu, Bodinayakanur, Kumily, Thekkady, Kumbum and Pattiveeran Patti in Kerala.

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Cardamom prices rise by 1.03 percent on Tuesday

 

Cardamom prices rose by 1.03 per cent on Tuesday at the Multi Commodity Exchange (MCX) on account of good buying support from both exporters and upcountry buyers and also on hopes of improved export demand. At MCX, Cardamom futures for September 2015 contract were trading at Rs 862.50 per kg, up by 1.03 per cent, after opening at Rs. 855 against the previous closing price of Rs. 853.70. It touched the intra-day high of Rs. 853 till the trading. (At 10.45 AM today). Sentiment improved further as a result of firm demand in the market against restricted arrivals from producing belts of Chandausi in Uttar Pradesh.
 

Kerala (70 per cent), Karnataka (20 per cent) and Tamil Nadu (10 per cent) are the cardamom growing states in India while about 90 per cent of the produce is consumed within the nation. The important markets for cardamom in India are Vandanmendu, Bodinayakanur, Kumily,  Kumbum,Thekkady, and Pattiveeran Patti in Kerala.

 

 

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Crude oil prices notched up handsome gains in the domestic market

Mcx Commodity Tips : Crude oil prices notched up handsome gains in the domestic market on Monday as traders gave thumbs up to the Greek debt deal, easing worries over energy demand in the 19-member Euro area. Greece reached an agreement with its creditors to secure new rescue aid, eliminating any threat of the debt-strapped nation being pushed out of the euro. Prime Minister Alexis Tsipras submitted to creditors’ demands for streamlining value added taxes, broadening the tax base to boost revenue and limiting pension costs, paving way for new European bailout aid worth 86 billion euro, helping the cash-strapped nation to remain a part of the single currency union. However, speculation that an Iran nuclear deal may exasperate a global crude supply glut as the West gradually lifts sanctions on the Islamic nation, kept oil price gains in check. Officials from Iran and the West were said to be nearing a landmark deal on Iran’s disputed nuclear program that may help Iran double its crude shipments. Meanwhile, OPEC, which accounts for about 40 per cent of global crude supplies, cut the demand forecast for its crude by 100,000 barrels per day to 29.2 million barrels per day in 2015 while raising its forecast for non-OPEC supply growth by 180,000 barrels per day to 860,000 barrels per day. The OPEC expects world oil demand to grow 1.28 million barrels per day in 2015, an increase of 100,000 barrels per day from its previous forecast. Oil may trade on a subdued note today amid ongoing talks between Iran and the West and caution ahead of US retail sales data. At the MCX, Crude oil futures, for the July 2015 contract, closed at Rs 3,350 per barrel, up by 0.57 per cent, after opening at Rs 3,316, against the previous close price of Rs 3,331. It touched an intraday high of Rs 3,379.

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Commodity Tips and Updates for 13 July 2015

Commodity Tips : Jeera prices closed higher by 0.22 per cent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as the investors increased their holdings in the commodity in the midst limited arrivals from growing regions. At NCDEX, jeera futures for July 2015 contract closed at Rs. 16,205 per quintal, up by 0.22 per cent, after opening at Rs. 16,210 against the previous closing price of Rs. 16,170. It touched the intra-day high of Rs. 16,380.

Maize prices ended lower by 0.49 per cent on Friday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of heavy selling activity by the traders on account of higher global supplies and weak offtakes from the local buyers. At NCDEX, maize futures for July 2015 contract closed at Rs. 1,218 per quintal, down by 0.49 per cent, after opening at Rs. 1,225 against the previous closing price of Rs. 1,224. It touched the intra-day low of Rs. 1,210.

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Mcx Commodity Tips and Updates for 16 June 2015

Mustard Seed prices closed lower by 1.84 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the profit booking by the traders on account of the weak crushing and export demand of mustard meal. At NCDEX, Mustard Seed futures for June 2015 contract ended at Rs. 4,110/quintal, down by 1.84 per cent, after opening at Rs. 4,150 against the previous closing price of Rs. 4,187. It touched the intra-day low-lying of Rs. 4,100.

Maize prices ended lower by 0.27 per cent on Monday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of heavy selling activity by the traders on account of higher global supplies and weak offtakes from the local buyers. At NCDEX, maize futures for June 2015 contract closed at Rs. 1,110 per quintal, down by 0.27 per cent, after opening at Rs. 1,108 against the previous closing price of Rs. 1,113. It touched the intra-day low of Rs. 1,108.

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Precious Metals Tips and Updates for 26 May 2015

Gold futures wrapped up the week in bearish mode as prices retreated in the domestic market on Friday after US Federal Reserve Chair Janet Yellen termed a 2015 interest rate hike as “appropriate”, dimming the luster for the precious metal as a store of value. Yellen sees the world’s top central bank raising interest rates for the first time since 2006 this year, if economic data comes in line with forecasts, with a gradual pace of tightening, thereafter. Better than expected US inflation data further bolstered the case for rate tightening in 2015. Core consumer prices in the US climbed 0.3 per cent in April 2015 from the previous month, the biggest gain since January 2013, signaling a pickup in inflationary pressures in the world’s biggest economy. A stronger dollar also kept pressure on gold by curbing the demand for the precious metal as an alternative asset. Stronger greenback makes gold more expensive for those holding other currencies, thus dimming demand. Gold may extend losses today amid renewed US rate hike fears. At the MCX, Gold futures for June 2015 contract closed at Rs 27,082 per 10 gram, down by 0.10 per cent after opening at Rs 27,159, against the previous closing price of Rs 27,108. It touched the intra-day low of Rs 27,053 till the closing.

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MCX COMMODITY TIPS AND UPDATES FOR 22 MAY 2015

MCX COMMODITY TIPS: Barley prices closed higher by 0.63 per cent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of strong demand from beer and cattle-feed making industries against restricted supply in physical markets. At NCDEX, barley futures for June 2015 contract closed at Rs. 1,272.5 per quintal, up by 0.63 per cent, after opening at Rs. 1,265 against the previous closing price of Rs. 1,264.5. It touched the intra-day high of Rs. 1,278.

Chana prices closed lower by 0.23 per cent on Thursday at the National Commodity & Derivatives Exchange Limited (NCDEX) as a result of the steady sowing progress of pulses along with high supplies in major producing states. At NCDEX, chana futures for June 2015 contract closed at Rs. 4,694 per quintal, down by 0.23 per cent, after opening at Rs. 4,700 against the previous closing price of Rs. 4,705. It touched the intra-day low of Rs. 4,667.

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DAILY COMMODITY REPORT FOR 06/06/2014

Precious Metals

D A I L Y B U Z Z

GOLD 
MCX gold for August delivery traded almost flat at Rs 25,815 per 10 gm in early noon trade. Interestingly, the discount that far-month contracts have been trading at to the near month on
the exchange narrowed to Rs 8 on Wednesday at the close of trade.

"This possibly indicates that markets are factoring in a duty cut during the upcoming Budget session," said DK Aggarwal, MD, SMC Comtrade. "The discount is showing signs of narrowing with a build up of expectations." Gold futures went into a discount after the government last August hiked the import duty to 10% and restricted imports to around half a dozen nominated agencies, from 28 earlier, and that too only against 20% exports, also known as the 80:20 rule.

This resulted in lower supplies in the spot market, pushing up prices. On the exchange, in the near-month contract, sellers were not always able to procure the quantities bid for and began rolling positions to far-month contracts. Thus, the number of buyers in near-month contracts exceeded the sellers (who rolled over their positions) and thus the market went into a discount from a premium, which is normally the case.

Now, as expectations of a duty cut build up, concomitant hopes are rising that supplies will improve and thus the discount is showing signs of narrowing. However, analysts added it might be too early to interpret data from the futures market. The discount widened to Rs 28 during thin noon trading on Thursday.

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REVIA DAILY COMMODITY REPORT 28 JAN 2014

Precious Metals
SILVER  GOLD
                                                          D A I L Y B U Z Z

GOLD
Tracking a weak global trend, gold prices declined by 0.18 per cent to Rs 29,187 per ten grams
in futures trade today as speculators offloaded their positions.

At the Multi Commodity Exchange, gold for delivery in February declined by Rs 54, or 0.18 per
cent, to Rs 29,187 per ten grams in a business turnover of 1,498 lots.

Similarly, the yellow metal for delivery in April traded lower by Rs 31, or 0.11 per cent, to Rs
28,615 per ten grams in 53 lots.

SILVER
Silver prices declined 0.20 per cent to Rs 44,391 per kg in futures trade today as speculators
trimmed positions on weak global trend.

At the Multi Commodity Exchange, Silver for delivery in March fell by Rs 89, or 0.20 per cent,
to Rs 44,391 per kg in business turnover of 2,026 lots.

Likewise, the white metal for delivery in May declined by Rs 51, or 0.11 per cent, to Rs 45,405

per kg in 77 lots.

Agro Outlook
CARDAMOM
                                                        D A I L Y B U Z Z
CARDAMOM
Continuing its rising streak for the fourth day, cardamom prices gained 0.30 per cent to Rs 739.60 per kg in futures trading today as speculators enlarged positions, driven by rising demand in the spot market.

Tight supplies in the physical market following less arrivals from producing regions also influenced cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in March gained Rs 2.20, or 0.30 per cent, to Rs 739.60 per kg in a business turnover of 8 lots. Likewise, the spice for delivery in February edged up by 90 paise, or 0.13 per cent, to Rs 708.60 per kg in 57 lots.

Market analysts said rising demand in the spot market amid tight supplies from producing region led to the uptrend in cardamom for the fourth-day at futures trade. 

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Mcx commodity tips: Bullion traders were in upbeat mood in the market

Mcx commodity tips: Bullion traders were in upbeat mood in the domestic market on Friday as Gold futures rose ahead of the Fed Chair Janet Yellen’s speech later on Friday who may offer further cues over the timing of a US rate hike.

Majority of Thursday’s US economic releases signaled underlying weakness in the world’s biggest economy, bolstering the case for the Fed to delay a maiden rate lift-off since 2006, boosting the appeal of the bullion as a store of value.

Jobless claims in the US climbed last week, while sales of previously owned homes fell 3.3 per cent to a 5.04 million annualized pace in April, and the gauge measuring manufacturing declined to a 16-month low of 53.8 in May from 54.1 in April, with a reading above 50 signaling expansion.

At the MCX, Gold futures for June 2015 contract is trading at Rs 27,194 per 10 gram, up by 0.32 per cent after opening at Rs 27,159, against the previous closing price of Rs 27,108. It touched the intra-day high of Rs 27,200.

MCX Crude oil futures are trading in a very sluggish manner today after the steep losses on last Friday. 

The commodity lingered around Rs 3900 per barrel levels for the benchmark February contract, eying a tight movement in the world prices. 

The global prices edged higher towards $86 per barrel, bouncing off its two week lows as the Asian stocks were off to an impressive start to a new week today as the resignation of Egyptian President Hosni Mubarak spilled over its positive influence on the global markets and the appetite for risk improved.

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Mcx commodity tips: A resurgent US dollar took toll on Crude oil

Mcx commodity tips: A resurgent US dollar took toll on Crude oil as energy traders indulged in a massive sell-off in the fuel in the domestic and overseas market on Tuesday, pulling prices down by more than 3 per cent. Stronger dollar curbed the demand for the fuel as an alternative asset. Stronger greenback makes oil more expensive for those holding other currencies, thus dimming demand.

The dollar strengthened after better than expected US housing data eased concerns over a slowdown in the world’s biggest economy, powering the lure for risky assets. US housing starts surged to the highest level in more than seven years, up 20.2 per cent to a 1.14 million annual rate in April 2015.

Despite severe fighting in Syria, Yemen and Iraq, with Islamic State Militants strengthening their foothold in Libya, crude supplies from the oil-rich Middle East are increasing, exasperating fears over a global supply glut. Saudi Arabia, the world’s biggest oil producer, said that the country pumped in a record 10.3 million barrels per day of oil in March.

However, US supplies continued to ease, with oil stockpiles falling 5.2 million barrels in the week ended May 15, 2015, the American Petroleum Institute (API) reported late Tuesday.

Oil may rebound today as government data shows a further dip in US crude oil stockpiles.

At the MCX, Crude oil futures, for the June 2015 contract, closed at Rs 3,737 per barrel, down by 3.11 per cent, after opening at Rs 3,859, against the previous close price of Rs 3,857. It touched an intradaylow of Rs 3,728 till the closing.

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