28/06/2017 (etmarkets.com) - Mentha oil prices drifted lower by 0.14 per cent to Rs 902.10 per kg in futures trade today as speculators trimmed positions, driven by sluggish demand from industries at the spot market.

Besides, ample stock positions on higher supplies from producing regions too influenced mentha oil prices.

At the Multi Commodity Exchange, mentha oil for delivery in July traded lower by Rs 1.30, or 0.14 per cent, to Rs 902.10 per kg, in a business turnover of 394 lots.

On similar lines, the oil for delivery in current month declined by Rs 1.20, or 0.13 per cent, to Rs 886.80 per kg in 176 lots.

Analysts said offloading of positions by participants due to subdued demand from consuming industries in the spot market against ample stock positions on higher supplies from Chandausi in Uttar Pradesh mainly led to the decline in mentha oil prices in futures trade.

Crude palm oil
Crude palm oil prices fell 0.32 per cent to Rs 488.10 per 10 kg in futures trade today as speculators booked profits at prevailing higher levels amid fall in demand at the spot market.

Ample stocks following increased supplies from the producing belts too fuelled the downtrend.

At the Multi Commodity Exchange, crude palm oil for delivery in the current month eased by Rs 1.60, or 0.32 per cent, to Rs 488.10 per 10 kg, in a business turnover of 50 lots.

On similar lines, the oil for delivery in July traded lower by 0.90 paise, or 0.18 per cent, to Rs 474.70 per 10 kg in 163 lots.

Analysts said besides profit-booking by speculators at prevailing higher levels, fall in demand at the spot market, mainly weighed on crude palm oil prices.

Cardamom
Cardamom prices were trading up by 1.81 per cent to Rs 950 per kg in futures trade today as speculators enlarged positions amid an upsurge in physical demand in the domestic spot market.

Furthermore, tight supplies from major producing regions also supported the upside in cardamom prices.

At the Multi Commodity Exchange, cardamom for delivery in August rose by Rs 16.90, or 1.81 per cent, to Rs 950 per kg with trading volume of 46 lots.

Similarly, spice for delivery in July was trading up by Rs 2.40, or 0.23 per cent, to Rs 1,030 per kg, in a trading volume of 84 lots.

Traders said widening of positions by participants, driven by surge in demand at the spot market against restricted supplies from producing regions, mainly kept cardamom prices higher at futures trade.