NCDEX coriander up 2% on bargain buys, lower acreage.

Ram Gopal Yadav (7 years ago)

The January contract of coriander on NCDEX was up nearly 2% as investors bought the commodity after prices fell to a two-week low. The most-active January contract of coriander was at 5,425 rupees, up 1.8%. Prices also rose as acreage under coriander is likely to decline this rabi season as farmers have shifted to others crops following unattractive returns last year.

Malaysia CPO ends higher as November output falls.

Ram Gopal Yadav (7 years ago)

Futures contracts of crude palm oil on the Bursa Malaysia Derivatives ended higher due to an on-month fall in the country’s palm oil output in November. Malaysia’s palm oil production was down 3.3% on month at 1.9 million metric tonne in November. The rise in prices was also due to bargain buying, as prices had hit an over five-month low of 2,455 ringgits (38,792.91 rupees) per metric tonne. The February contract on the Malaysian bourse closed at 2,471 ringgits per metric tonne, up 0.5% from the previous close.

Malaysia November palm oil inventory up 16% on month at 2.56 million metric tonne.

Ram Gopal Yadav (7 years ago)

Malaysia’s crude palm oil inventory in November rose 16% on month to 2.56 million metric tonne, and exports declined 12% to 1.35 million metric tonne. However, palm oil production was down 3.3% on month at 1.9 million metric tonne in November. Stocks of crude palm oil were at 1.49 million metric tonne at the end of November, up 21% on month. Processed palm oil stocks were also up, rising 10% on month to 1.07 million metric tonne. Malaysia is the world’s second-largest producer and exporter of palm oil. Biodiesel exports from Malaysia were at 9,087 metric tonne in November, up from 5,572 metric tonne sold overseas in October.

NCDEX soybean futures down tailing weakness on CBOT.

Ram Gopal Yadav (7 years ago)

Futures contracts of soybean fell on the NCDEX tailing weakness in the soy futures on the CBOT. Global prices of the commodity were down as recent rains in Argentina, after a dry spell, is favourable for crops. The most active January contract on the NCDEX was down 0.7%.

NCDEX mustard gains on short covering post 3-week low.

Ram Gopal Yadav (7 years ago)

The January futures contract of mustard seed on NCDEX rose as investors covered their short positions after prices hit a three-week low. The most active January contract on NCDEX was up 0.7%. Lower mustard acreage this year also supported prices.