Mentha Oil Spot At Sambhal Closed At 1420.20 Per 1kg. Spot Prices

Mentha oil trading range for the day is 1251.2-1284.4.

Mentha oil spot at Sambhal closed at 1420.20 per 1kg. Spot prices was down by Rs.-24.50/-.

Menthaoil dropped due to delay in monsoon, there has been an increase in the arrival of mentha.

Due to improving exports prospects, estimates for ending stocks has been reduced even lower than previous year.

This year’s production expectation of 38500- 39000 MT stood slightly above the average production of 36,968 MT.

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Turmeric Trading Range For The Day Is 6280-6428

Turmeric trading range for the day is 6280-6428.

Turmeric ended with losses due to improving supplies in all the producing centres and projection of higher 2018-19 output.

Prices also seen under pressure on higher supplies prospects from new season crop.

However, downside seen limited on the back of concerns that drought conditions and cold weather will affect the crop production.

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Soyabean Gained On Short Covering After Prices Dropped

Soyabean trading range for the day is 3593-3685.

Soyabean gained on short covering after prices dropped due to low physical demand and sufficient stocks due to higher production this season.

As per latest press release by SOPA, India’s soybean output is higher by 38% at 114.8 lt this year due to increase in average yield across the country.

Soybean output in Maharashtra is estimated to rise by 32 per cent to 3.84 million tonnes for this year from 2.91 million ha last year.

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Crude Palm Oil Gained Tracking Firmness In Spot Demand And Overseas

CPO trading range for the day is 561.2-577.2.

Crude palm oil gained tracking firmness in spot demand and overseas prices bolstered by stronger related edible oils and on expectations of weaker output.

Output in Malaysia, fell 3.9 percent to 1.74 million tonnes last month, data from the Malaysian Palm Oil Board showed.

Malaysia kept its export duty on crude palm oil for March at zero percent, according to a circular on the Malaysian Palm Oil Board's website.

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Rmseed Prices Gained Amid Reports On Diminishing Stocks

Rmseed trading range for the day is 3913-4055.

Rmseed prices gained amid reports on diminishing stocks with farmers.

India’s mustard acreage is likely to rise 6.5% on year to 6.7 mln ha in 2018-19, as per the estimates.

NCDEX accredited warehouses mustard seed stocks dropped by 516 tonnes to 5686 tonnes.

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Cotton Dropped On Profit Booking After Prices Gained Amid

Cotton trading range for the day is 20560-20880.

Cotton dropped on profit booking after prices gained amid reports of lower production from major producing regions during current year.

Cotton Association of India cuts 2018-19 production estimate by 5.25 lakh bales this month to 335 lakh bales for the year 2018-19.

The CAI has reduced the crop estimate for Gujarat by 1.50 lakh bales and for Maharashtra and Telangana by 2 lakh bales each.

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Cardamom Dropped On Profit Booking After Prices Gained

Cardamom trading range for the day is 1622.1-1667.7.

Cardamom dropped on profit booking after prices gained due to heavy losses to crop due to recent floods and good export hopes.

Export of cardamom from the country during 2017-18 spurted 48% to 5,680 ton from 3,850 ton a year ago.

Around 25 tn of new arrivals are coming at auctions daily, which is 25-30% of the total arrivals.

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Crude Oil Dropped After Chinese Data Showed Weakening

Crude oil trading range for the day is 3531-3719.

Crude oil dropped after Chinese data showed weakening imports and exports in the world’s biggest trading nation and second-largest crude oil consumer.

Despite the weak Chinese trade data, the country’s oil imports remained sky-high in December at 10.31 million barrels per day.

The OPEC and some non-OPEC allies, including Russia, have been cutting supply since late 2018, providing crude prices with some support.

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Jeera Gained On Short Covering After Prices Dropped

Jeera trading range for the day is 16750-17330.

Jeera gained on short covering after prices dropped as sowing area is expected to improve this season due to favourable weather conditions.

Cumin acreage improves in Gujarat on reports of water irrigation facility for rabi crops by government of the State.


NCDEX accredited warehouses jeera stocks dropped by 569 tonnes to 891 tonnes.

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Gold Traded In Range On Higher Interest Rates

Gold traded in range on higher interest rates and dollar strength from the Sino-U.S. trade conflict. U.S. President Donald Trump said that a possible trade deal between the United States and China was progressing well.

Gold has regained its safe-haven appeal because of turmoil in financial markets adding that political and economic considerations will support prices into the first quarter of 2019.

China's net gold imports via main conduit Hong Kong rose 28 percent in November from the previous month to their highest since July, data showed.

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Crude Palm Oil Recovered On Short Covering After Seen Pressure

CPO trading range for the day is 505.8-518.4.

Crude palm oil recovered on short covering after seen pressure tracking weakness in spot demand and weakness in overseas prices amid high inventories.

India slashed import tax on crude and refined palm oil sourced from Southeast Asian countries after request from suppliers.

The duty on crude palm oil was lowered to 40 percent from 44 percent, while a tax on the refined variety was cut to 50 percent from 54 percent.

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Cardamom Dropped On Profit Booking After Prices Gained

Cardamom trading range for the day is 1492.6-1535.4.

Cardamom dropped on profit booking after prices gained due to heavy losses to crop due to recent floods and good export hopes.

Export of cardamom from the country during 2017-18 spurted 48% to 5,680 ton from 3,850 ton a year ago.

Around 25 tn of new arrivals are coming at auctions daily, which is 25-30% of the total arrivals.

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