Cardamom futures rise by 1.24% today

Agro-Commodity: Cardamom futures rose over 1 per cent during morning trade in the domestic market on Thursday as investors & speculators build up new positions in the agri-commodity among pick up in physical demand for cardamom in the domestic spot market. 

At the MCX, for December 2016 contract cardamom futures is trading at Rs 1254 per kg, up by 1.24 per cent, after opening at Rs 1254, against last close of Rs 1238.70. It touched the intra-day higher of Rs 1254.

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Today Cardamom futures up on upswing in demand

During the morning trade Cardamom futures were trading high in the domestic market on Wednesday as investors and speculators build up new positions in the agri-commodity among rise in physical demand for cardamom in the domestic spot market. Further, insufficient supplies amid restricted physical arrivals from the major cardamom producing regions, too supported the uptrend in the domestic cardamom prices. 

At the MCX, cardamom futures for October 2016 contract is trading at Rs 1136 per kg, upward by 0.40 %, after opening at Rs 1128, against a previous close of Rs 1131.50. It touched the intra-day high of Rs 1136.

 

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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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MCX DAILY COMMODITY COPPER TIPS & CORIANDER, CARDAMOM UPDATES 23 JAN 2014

Base Metals & Energy
                                                            D A I L Y B U Z Z

COPPER
Copper prices moved down by 0.39 per cent to Rs 459.45 per kg in futures trade today as speculators
offloaded their positions taking negative cues from overseas markets.

At the Multi Commodity Exchange, copper for delivery in February declined by Rs 1.80, or 0.39 per cent, to Rs 459.45 per kg in a business turnover of 6,758 lots. Similarly, the metal for delivery in April traded lower by Rs 1.75, or 0.38 per cent, to Rs 464.10 per kg in 188 lots.

Market analysts attributed the fall in copper futures to a weak global trend on speculation that demand
in China, the world's biggest consumer, will slowdown ahead of the Lunar New Year holidays.

Meanwhile, copper for delivery in three months lost 0.3 per cent to $7,313.75 a tonne at the London
Metal Exchange.

Agro Outlook
CORIANDER  CARDAMOM
                                                        D A I L Y B U Z Z

CORIANDER
Amid rising domestic demand and restricted arrivals from producing regions, coriander prices rose by 1.87 per cent to Rs 9,468 per quintal in futures trade today as speculators enlarged positions.

At the National Commodity and Derivative Exchange, coriander for delivery in April rose by Rs
174, or 1.87 per cent, to Rs 9,468 per quintal with an open interest of 21,560 lots. Similarly, spice
for delivery in February moved up by Rs 111, or 1.32 per cent, to Rs 8,547 per quintal in 34,310 lots.

JEERA
Jeera prices slipped by 0.53 per cent to Rs 12,680 per quintal in futures market today as
speculators trimmed positions on sluggish demand in the spot market against adequate supplies.
At the National Commodity and Derivatives Exchange, jeera for delivery in March slipped by Rs
67.50, or 0.53 per cent, to Rs 12,680 per quintal with an open interest of 7,284 lots. Likewise,
spice for delivery in April traded lower by Rs 62.50, or 0.49 per cent, to Rs 12,757.50 per quintal

in 2,301 lots. 

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MCX COMMODITY TIPS FOR 10 JAN 2014

Precious Metals
GOLD  SILVER
                                                      D A I L Y B U Z Z
Gold prices fell by Rs 160 to Rs 30,000 per ten grams in the national capital on Wednesday on sustained selling by stockists against sluggish demand amid a weak global trend.

Silver also dropped by Rs 1,050 to Rs 44,300 per kg on reduced offtake by industrial units, particularly coin makers, amid weak global cues.

In Mumbai, gold of 99.9 and 99.5 per cent purity traded at Rs 29,850 and Rs 29,700 per ten grams, respectively, while silver enquired at Rs 45,000 per kg.

Traders said sustained selling by stockists against sluggish demand and a weak global trend as strengthening dollar reduced the metal's appeal as an alternative investment mainly led to the fall in the prices of the precious metal.

Gold in Singapore, which normally sets price trend on the domestic front, fell 0.5 per cent to $1,225.71 an ounce and silver by 1.1 per cent to $19.64 an ounce.

At the domestic front, gold of 99.9 and 99.5 per cent purity fell further by Rs 160 each to Rs 30,000 and Rs 29,800 per ten grams, respectively. Sovereign declined by Rs 100 to Rs 25,000 per piece of eight gram.Silver ready dropped by Rs 1,050 to Rs 44,300 per kg and weekly-based delivery by Rs 1,200 to Rs 44,300 per kg.

Base Metals & Energy
COPPER  CRUDE OIL
                                                     D A I L Y B U Z Z
Nickel prices moved up by 0.13 per cent to Rs 852.20 per kg in futures trade today as speculators
enlarged their positions driven by rising demand from alloy-makers in the spot market.

At the Multi Commodity Exchange, nickel for delivery in January gained Rs 1.10, or 0.13 per cent, to Rs 852.20 per kg in a business turnover of 1,411 lots.

Similarly, the metal for delivery in February moved up by 90 paise, or 0.10 per cent, to Rs 860.40 per kg in 44 lots.

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REVIA MCX COMMODITY UPDATE FOR 31 DEC 2013

Agro Outlook
CHANA  DHANIYA
                                                          D A I L Y B U Z Z

Crude palm oil prices traded a shade higher at Rs 548.10 per 10 kg in futures market today as speculators indulged in creating fresh positions after pick up in demand in the spot market.

At the Multi Commodity Exchange, crude palm oil for delivery in January moved up by 90 paise, or 0.16 per cent, to Rs 548.10 per 10 kg in business turnover of 81 lots.

Similarly, the oil for delivery in December edged up by 40 paise, or 0.07 per cent, to Rs 541.30 per 10 kg in 61 lots.

Sugar futures traded a shade higher at Rs 2,808 per quintal speculators created fresh positions, triggered by a pick up in demand in spot markets.

However, ample supplies from mills in the physical market restricted the gains.

At the National Commodity and Derivatives Exchange, sugar for delivery in January rose by Rs 5, or 0.18 per cent, to Rs 2,808 per quintal with an open interest of 24,360 lots.

Similarly, the sweetner for delivery in February traded higher by Rs 4, or 0.14 per cent, to Rs 2,793 per quintal in 17,100 lots.

Precious Metals

SILVER  GOLD

                                                       D A I L Y B U Z Z

Gold prices moved down by 0.19 per cent to Rs 28,509 per 10 gram in futures trade today as participants offloaded positions partially, taking weak cues from the global market.

At the Multi Commodity Exchange, gold for delivery in February contracts declined by Rs 55, or 0.19 per cent, to Rs 28,509 per 10 gram in business turnover of 341 lots.

Likewise, the metal for delivery in April shed Rs 44, or 0.16 per cent, to Rs 27,898 per 10 gram in 23 lots.

Market analysts said a weak trend in the overseas markets as investor holdings extended declines to the lowest since 2009, mainly put pressure on the gold prices at futures trade here.

Globally, gold fell 0.3 per cent to USD 1,209.76 an ounce in early trade Singapore today. 

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