Cardamom on MCX settled up 1.37% at 1183.3 on robust demand in the physical market ahead of Diwali season. Currently, cardamom prices were also trading up on the occasion of Navratri as end-users use it in their daily meal.

Good demand for the domestic market as well as for exports are driving the prices higher. During the current week the total arrivals stood at 441 tonnes, which is lower by 8% compared to last week arrivals and the sales were at 434 tonnes.

The arrivals declined for the third consecutive week while the demand is increasing. The exports of cardamom during the first quarter of FY 2017/18 increase by 12.5% to 1,403 tonnes compared to last years’ 1,247 tonnes. At the auction conducted by the Cardamom Planters' Association (CPA) 19 tonnes of cardamom arrived and almost the entire volume traded.

The auction average rose to Rs. 1,137.88 a kg from its previous average of Rs. 1,039.25 a kg. Last week at all the auctions the individual auction average remained above Rs. 1,100 a kg and vacillated between Rs. 1,108 and Rs. 1,162 a kg. The weekly auction average was at Rs. 1,142.38 a kg. Empty pipe lines in the consuming markets coupled with the supply not improving to the normal supply level at this point of time of harvesting has led to active coverage by upcountry buyers. Besides the exporters were also buying and they have bought an estimated 70 tonnes last week.


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Jeera on NCDEX settled down -0.15% at 19625 easing demand from retailers and stockists at the spot market. Besides, ample stocks position following higher supplies from the producing regions too fueled the downtrend.

Pressure also seen amid slowing exports in the wake of the commodity prices rising to a record. However, the fall in prices is likely to be temporary, given 10-15 per cent stock shortage.

Another reason for sluggish exports is that Syria has emerged as a competitor to India with its new crop. Both are selling at $3,000 per tonne. But as it is a new crop Syrian cumin has more takers. Syrian cumin is routed through Dubai because of internal strife in the country.

The National Commodity & Derivatives Exchange (NCDEX) has issued a clarification saying 62 per cent of the total stock to the exchange-registered warehouses in Unjha, Gujarat, matched up to its quality standards after concerns were raised over the dispatch of sub-standard jeera by traders.

Citing incessant rainfall as the reason behind poor quality jeera, traders feared the delivery of sub-standard jeera stock in several warehouses. The exchange said that traders in the value chain tendered 2,347 tonnes of jeera for delivery in Unjha warehouses, of which around 1,471 tonnes were found to be in line with NCDEX's quality standard.


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Turmeric on NCDEX settled down -0.24% at 7374 due to higher arrivals amid weak demand. Meanwhile, weak demand from upcountry and industrial buyers has also kept turmeric prices under pressure.

Prices of turmeric were down as turmeric yield and output is expected to improve in 2017-18 on good monsoon in the Southern India. Turmeric output may rise at 1-1.1 million tons in 2017-18 season compared to last year. In 2016-17, turmeric output is pegged at 1.13 million tons by government in the third advance estimate, higher from 943,000 tons in 2015-16.

Moreover, despite of marginally lower sowing this year turmeric production is expected to rise on favourable rainfall. The sale of turmeric at Erode markets decreased. The arrivals improved but the buyers purchased only 60 per cent turmeric bags as there was no demand.

Buyers are expecting fresh upcountry demand by the first week of October. Regarding the price of the commodity, the finger variety decreased by Rs. 200 a quintal in the Erode Cooperative Marketing Society and Erode Turmeric Merchants Association Sales yard.

But in the Regulated Marketing Committee, the finger turmeric was up Rs. 100 a quintal. At the Erode Turmeric Merchants Association, the finger turmeric went for Rs. 5,361-8,589 a quintal; the root variety Rs. 5,159-8,039. Of the arrival of 1,605 bags, 715 were sold.


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Mustard seed settled flat amid weak arrival with majority of mandis in Madhya Pradesh and elsewhere in the country remaining closed. Reports of crop damage on account of recent rains has affected trading sentiment.

Arrival of mustard seeds across the country remained on the lower side at 70,000 bags. There is an anticipation of good demand from the oil millers in coming weeks on good crushing demand because of improved mustard meal exports in first 5 month of FY 2017/18. Country exported 216,258 tonnes mustard meal during this period which is 122% higher on year.

India's mustard meal exports for the month of July also rose 56.4% on year to 50,649 tonnes as per SEA data. As per SEA recent data, mustard oil imports for period Nov-July down 23% to 1.94 lt in current oil year compared to 2.55 lt in the previous year. As per data compiled by Mustard Oil Producers Association of India, Oil mills across the country crushed 450,000 tn of mustard seed in August, down over 18% from the previous month.

Indian farmers are likely to have harvested 6.9 mln tn of mustard in the year ended June, up nearly 19% from 5.8 mln tn the previous year, due to better yields and favourable weather, according to the results of a joint survey by the Central Organisation for Oil Industry and Trade and the Mustard Oil Producers Association.


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CPO on MCX settled up 0.94% at 544.9 amid good demand in the physical market. The prices were also supported due to increase in tariff value for Crude palm oil and higher import duty. Recently government raised import duty on crude palm oil to 15% from 7.5%, and on refined palm oil to 25% from 15% but higher stocks in the country is having bearish impact.

According to SEA release, during the November-August period, crude palm oil import increased to 50.82 lakh tonnes from 46.70 lakh tonnes during the same period of the previous oil year.

Malaysia palm oil exports during Sep 1-20 climbed 25.4% compared to same period a month on strong demand from China, India & Subcontinents and Middle East, data showed. Malaysia palm oil exports jumped to 852,206 tons during Sep 1-20 compared to 679,539 tons for the same period a month ago, DowJones reported citing data from Intertek, a private surveyor.

Palm oil imports by China from Malaysia during Sep 1-20 jumped 58.11% to 178,432 tons compared to 112,850 tons in the same period a year ago. Malaysia's palm oil exports to India during Sep 1-20 spurted 95.07% to 174,100 tons compared to 89,250 tons imported during Aug 1-20. Middle East's palm oil imports from Malaysia during Sep 1-20 climbed 54.23% to 60,590 tons compared to 39,283 tons in the same period a month ago.


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Ref Soya oil on NCDEX settled up 1.04% at 681.6 on anticipation of good physical demand in coming festival season and reports of lower imports on soyoil in the country. The Solvent Extractors' Association of India (SEA) has raised its concerns on the decline in the oilseeds acreage this kharif season (2017), where monsoon played truant hampering sowing prospects mainly for soybean and groundnut.

This year, the rain fall is erratic particularly in Central part of India viz Eastern Maharashtra and Madhya Pradesh, the major soyabean growing belts. Overall monsoon has been 95 per cent of the normal and expected heavy showers in coming week.

But the acreage under kharif oil seed crop is disappointing as farmers have moved from oilseeds to other crops. As per the data released by SEA, Aug crude soyoil import down 13% at 289,746 tn vs 333,599 tn yr ago, while Nov-Aug crude soyoil import also down 22% to 2.74 mln tn vs 3.49 mln tn yr ago. Moreover, recently soy oil the prices have been supported by weak rupees and increase in import tax coupled with higher tariff value for the crude soy oil in September when government increase import tariff by $33.


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Soyabean on NCDEX settled up 1.1% at 3133 on improved demand from oil mills and lower acreage in the country. Meanwhile, US soybeans too rose as the oilseed drew support from a report of strong export figures by the US Department of Agriculture.

As per data, soybean arrivals during the first 15 days is pegged at 1.58 lakh tonnes compared to 1.24 lakh tonnes in August same period. As per the agri ministry data, India's soybean acreage was at 10.6 million ha as on last week, down 7.8% from a year ago.

The fall in overall acreage has been led by a decline in area under the crop in Madhya Pradesh--the largest producer--because of poor rains in the state so far this monsoon season. The area under the soybean crop in India was at 10.58 mln ha , down 7.8% from a year ago, according to data released by the farm ministry.

The fall in overall acreage was led by a decline in Madhya Pradesh—the largest producer--as rains during the period of sowing were deficient, said an Agrimet official based in the state. In Madhya Pradesh, soybean acreage was at 5.01 mln ha , lower than 5.40 mln ha a year ago, according to the data.


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