Wednesday, 17 October 2018

CAPITALSTARS WEDNESDAY MENTHA OIL AGRI MARKET NEWS UPDATE


Upsurge in demand lifts mentha oil by 0.59%
Mentha oil futures were trading higher during the noon trade in the domestic market on Wednesday after participants raised their bets on uptick in demand from consuming industries at the spot market against restricted supplies from producing belts. Marketmen said widening of positions by speculators, driven by rising demand from consuming industries at the spot market against restricted supplies from Chandausi, led to the rise in mentha oil prices in futures trade.

MCX mentha oil futures for October 2018 contract was trading at Rs 1718.50 per kg up by 0.59 per cent after opening at Rs 1714.90 against the previous closing price of Rs 1708.40. It touched the intra-day high of Rs 1719.3 

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Tuesday, 16 October 2018

CAPITALSTARS TUESDAY SOYBEAN FUTURES AGRI MARKET NEWS UPDATE.


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Soybean futures (Nov) is expected to trade sideways in the range of 3255-3315 levels. With the farmers restricting the supply of soyabean to mandis ahead of State government’s purchase under the ‘Bhawantar Yojna’ (Price difference scheme) from October 20, soyabean prices at the mandis in Indore have gained Rs.150 a quintal in the past one week. Soyabean prices rose to Rs.3,250 a quintal.Weak availability of soya seeds with the crushers also perked up plant deliveries to Rs.3,275-3,300. Also, there are possibility that China may lift decade long ban on soybean meal. In case China opens its door for Indian soybean meal, then thereare good prospects. Mustard futures (Nov) is expected to trade sideways in the range of 4135-4185 levels. Crushers demand for mustard seed is said to be slightly positive amid improving demand in mustard oil from consumption centres followed by firm cues in soy oil and palm oil. The consumption of mustard oil usually increases in October-November period due to festival season. CPO futures (Oct) is expected to trade with an upside bias in the range of 588-593 levels taking positive cues from a weaker rupee. The Indian rupee fell below the 74 level compared to the dollar as brent crude oil price inched toward the $82 per barrel mark again on rising tensions between oil-rich Saudi Arabia and the US. In other related oils, theJanuary soybean oil contract on the Dalian Commodity Exchange rose 0.4 percent,
while the Dalian January palm oil contract climbed 0.9 percent.

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CAPITALSTARS TUESDAY TURMERIC FUTURES AGRI MARKET NEWS UPDATE

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Turmeric futures (Nov) is expected to witness consolidation in the range of 6525-6585 levels & trade with a downside bias. The fundamentals are bearish since the output in Erode is set to witness a rebound. According to the Department of Horticulture and Plantation Crops of Tamil Nadu, acreage of turmeric in Erode may jump nearly 80% on year to 5,300 ha in 2018-19 (Jul-Jun) because of very goodrainfall this year and availability of other water sources. A bullish trend is likely to be seen in jeera futures (Nov) as it has the potential to test 20375 levels. Farmers are bringing their produce at market, anticipating a rise in demand for the ongoing festive season. The prices rose by Rs.20-25 per 20kg at the major Gondal, Rajkotand Unjha markets. At major markets in Rajasthan jeera prices rose by Rs.100 per quintal. Meanwhile, with the hope of increase in the consumption during the coming festival month, the traders are not hesitant to stock jeera even at a higher price. Besides, the pace of arrival has become very weak at the mandis, which may push trading activities for the available supply. Cardamom futures (Nov) is likely to trade sideways in the range of 1355-1415 levels. Trade sources in the main trading hub for the aromatic spice in the country, Bodinayakanur in Tamil Nadu, said there has been a decline in arrivals and at the same time supply of the quality material has shown shrinkage. Total arrivals during the current season stood at 5,836 tonnes and the sales were at 5,732 tonnes. The auction average for the season slipped to Rs.1,191,61 a kg from Rs.1,193.36 a kg.

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Sunday, 14 October 2018

CAPITALSTARS MONDAY MENTHA OIL AGRI MARKET NEWS UPDATE


Mentha oil futures up 1.07% on increased demand
Mentha oil futures were trading higher during the morning trade in the domestic market on Monday as speculators engaged in building up positions, driven by surging demand in the spot market. Analysts said expanding of positions by participants, tracking strong demand from consuming industries in the physical market against low stocks position on fall in arrivals from Chandausi kept mentha oil prices higher at futures trade.
MCX mentha oil futures for October 2018 contract was trading at Rs 1706.10 per kg up by 1.07 per cent after opening at Rs 1701.90 against the previous closing price of Rs 1688.10. It touched the intra-day high of Rs 1711.60

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Friday, 12 October 2018

CAPITALSTARS FRIDAY MENTHA OIL AGRI MARKET NEWS UPDATE



Mentha oil futures extend weakness on muted demand
Mentha oil futures were trading lower during the noon trade in the domestic market on Friday as speculators reduced their holdings amid low demand from industries at the spot market. Besides, ample stocks position on higher supplies from producing regions, too, weighed on mentha oil prices. Marketmen attributed continuous fall in mentha oil prices at futures trade to reducing of holdings by participants, tracking subdued demand at the spot markets.

At the MCX mentha oil futures for October 2018 contract was trading at Rs 1695.00 per kg down by 0.80 per cent after opening at Rs 1700.10 against the previous closing price of Rs 1708.60. It touched the intra-day low of Rs 1687.30 .

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