On Thursday in the domestic market the trading were higher in the morning of the cardamom future, whereas the investors and the speculators they were extending their business in the Agri - commodity and surge in the physical demand in the spot domestic market. From the major regions of the cardamom producing regions from the insufficient supplies and the restricted arrival, they were supporting the upward trend in the domestic prices.

Cardamom futures of August 2017, at the MCX the contract was traded at Rs. 975 per kg and the percentage is 2.07% the opening was Rs.975 were the previous close was of Rs. 955.20. the intra-day touched high at Rs.975.

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On Thursday investors and speculators remained sidelined in the Agri-commodity on subdued physical demand and traders trimming their best in the domestic spot market as of Mentha oil future is trading lower and sufficient stock position on higher supplies from producing regions influenced Mentha oil prices at future trade.

On MCX for June 2017 the Mentha oil futures are trading at Rs 923.80/kg by 0.42%, opening at Rs 927.50 against a previous close of Rs 927.70and reached intra-day low of Rs 922.40.

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Cardamom on MCX settled up by 0.64% at 1057.6 on short covering after prices dropped because of reports of favourable weather and hopes of early commencement of new crop supplies. Higher crop expectations in the upcoming harvest season also weighed on cardamom though rains in the cardamom growing regions are slightly lower than normal. Exports of small cardamom showed a sharp decline in volume in 2016-17 with a marginal dip in terms of value realisation when compared with the performance in 2015-16.

Total shipments of the aromatic spice stood at 3,850 tonnes valued at Rs. 421.50 crore in 2016-17 as against 5,500 tonnes valued at Rs. 449.83 crore in 2015-16. Exports showed a 30 per cent drop in quantity and 6 per cent decline in terms of value. The decline in exports could be attributed to the rise in the price of the commodity due to a fall in total production in the last crop. Cardamom demand has fallen to a trickle with traders not keen on stocking the commodity in fear of the transition to GST.

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Jeera on NCDEX settled down by -1.57% at 18460 on reports of weak physical demand at the spot market. Though, some losses were capped as the jeera arrival is lower this year compared to last year. Moreover, exports demand is increasing while the stocks in the Exchange warehouse are diminishing. The jeera arrival in May is lower this year compared to last year. As per data, about 10,688 tonnes of jeera arrived in May 2017 compared to 14,302 May last year.

On the export front, country the exports increase by 26% to 1.24 lt in 2016/17 as per the data release by Dept. of commerce, GOI. The stock levels in the NCDEX warehouse were 1,238 tonnes which has been constant in June. Last year, stocks were higher at 3,500 tonnes. Sources estimate India’s jeera crop output will be around 2.5 lakh tonnes, lower than the 3.75 to 5 lakh-tonne estimated.

Even at the lower crop estimate, jeera exports are projected to range between 100,000-150,000 tonnes, for the year. Exports will happen in spite of higher prices because there is no supplier of jeera available globally. At Rajkot market in Rajkot(Guj.), estimated market supply was at 330 quintal, down by 240 quintal as against previous day. At Patan market in Patan(Guj.), arrivals were reported at 3 quintals, down by 9 quintals as compared to previous day.

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Turmeric on NCDEX settled up by 1.66% at 6016 amid rising physical demand coupled with diminishing supplies. However upside seen limited as there were good rains in last few days in southern peninsula. This season the prices have been lower on less demand from upcountry and industrial buyers. Turmeric arrivals in the country are higher in the month of May.

As per data, about 6,378 tonnes arrived last week compared to 11,942 tonnes during previous week. As per spice board, Increased global demand for turmeric, especially in the pharmaceutical sector, drove its exports to attain figures of 1,16,500 tonnes in volume and crossed Rs 1,241 crore in value terms in 2016-17. At Nizamabad market, sources reported arrivals at 4000 quintals, higher by 500 quintals as compared to previous day.

At Warangal market estimated market supply was at 2000 bags, lower by 500 bags as compared to previous day. The price of the spot turmeric increased. At the Erode Turmeric Merchants Association Sales yard, finger turmeric sold at Rs. 5,888 to 7,388 a quintal, root variety sold at Rs. 5,544 to Rs. 6,234 a quintal.

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Mustard Seed on NCDEX settled down by -1.44% at 3501 tracking weakness in spot demand due to higher supplies of mustard oil coupled with steady demand. Increase in imports of Mustard oil during the last month is pressurizing prices. As per SEA recent data, mustard oil imports increase by 55.7% in May compared to last year imports. Moreover, imports for period Nov-May increase to 1.18 lt in 2016/17 from 1.72 lt in the previous year.

Meal exports from the country during last month jumped which improves demand for oilseed. Mustard meal exports have increase 1275% in May this year at 42,488 tonnes compared to last year in May. Last year, India exports about 3,090 tonnes of meals in May. The arrivals have increase slightly been in the physical market last week.

As per data, the mustard arrivals were 32,496 tonnes last week compared to 32,194 tonnes in the previous week. The US Department of Agriculture extended the round of downgrades to the European Union rapeseed harvest, citing "drought in Western Europe." The USDA, unveiling its monthly flagship Wasde crop supply and demand report, downgraded by 200,000 tonnes to 21.1m tonnes its forecast for the EU rapeseed crop, the world's biggest.

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Crude palm Oil on MCX settled flat tracking weakness in overseas prices and on reports of higher imports of palm oil during the last two months. Moreover, reduction in base import prices too pressurizes prices. As per SEA latest release, the imports of palm oil have been higher by 12 lakh tonnes to 72 lt in the calendar year 2017 compared to last year’s 60 lt during the first 5 months.


As per SEA, palm oil import raised 21.6% y-o-y to 7.99 lt in May on higher shipment of crude palm oil (CPO). There are good stocks in the country due to higher imports during last two month. For the second fortnight of May, Base import prices of crude palm oil were cut by $15 to $716 per tonne while for RBD Palmolein the cut was about $14 to $747 per tonne.


Malaysian palm oil futures record their sharpest daily drop in a week as the market tracked a weaker performance in rival oils and slow export demand. Palm is down nearly 6 percent in the second quarter of the year from the previous quarter, as an increase in output has put pressure on prices. Malaysia shipment fell about 15% percent during June 1-20 versus the corresponding period last month on subdued demand from China and Middle East.

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