India Spices: Coriander, turmeric hit upper circuit; cardamom falls.

Futures contracts of all spices, barring cardamom, ended higher on domestic exchanges. Futures contracts of coriander and turmeric hit their 3% and 4% upper circuits, respectively, due to lower supplies in spot markets. Arrivals of coriander in Rajasthan were pegged at 5,000 bags (1 bag = 40 kg), down 1,400 bags, while those of turmeric in Erode, Tamil Nadu, were down by 2,500 bags (1 bag = 70 kg) at 3,000 bags. The rise in coriander prices was also because of a likely fall in acreage in 2017-18 (Oct-Sep).

Malaysia CPO down 1% on weak Nov 1-25 export data.

Futures contracts of crude palm oil on the Bursa Malaysia Derivatives fell 1% because of weak export data. The most-active February contract of crude palm oil was at 2,600 ringgits (40,854 rupees) per tonne on the Malaysian bourse, down 30 ringgits from the previous close. Cargo surveyor Intertek Agri Services estimated Malaysia’s palm oil exports during Nov 1-25 at 1.08 million tonne, down 8.4% from a month ago.

India Mustard at 10 month high; soyoil down on global cues.

Mustard contracts rose over 3% on the National Commodity and Derivatives Exchange, tracking gains in the spot market of Jaipur, where prices were up due to a fall in arrivals. The December mustard contract hit a 10-month high of ended 2.7% higher at 4,147 rupees on reports the government may increase the incentive on exports of oilmeals to 10% from 5% to support domestic prices. Prices of palm oil ended almost 2% lower on the Malaysian bourse due to a strong ringgit against the dollar.

Fall in arrival lifts mustard seed prices in Jaipur.

Prices of mustard seed rose in Jaipur, Rajasthan, due to a fall in arrivals along with improved demand for mustard meal from overseas buyers. Improved demand for mustard oil due to winter season has further supported seed prices. Supplies have declined because farmers are holding their produce in anticipation of a further rise in prices.