NCDEX coriander up on short covering, low arrivals

Ram Gopal Yadav (7 years ago)

The January contract of coriander on NCDEX was up over 1% as investors covered their short positions after it hit a one-week low. A 760-tn decline in open interest in the contract to 34,440 tn indicated short covering. The most-active January contract on NCDEX traded at 5,535 rupees, up 1.2% from previous close.

Malaysia CPO ends lower on CBOT cues, firm ringgit

Ram Gopal Yadav (7 years ago)

Futures contracts of crude palm oil on the Bursa Malaysia Derivatives ended lower, tracking losses in soyoil contracts on CBOT. Prices of crude palm oil and soyoil typically move in tandem, as both are used as substitutes for each other. A strong ringgit against the dollar further weighed on crude palm oil prices on the Malaysian bourse. Firmness in the Malaysian currency makes the commodity more expensive for buyers holding other currencies. The most-active March contract of crude palm oil on the Malaysian bourse closed at 2,520 ringgits (39,723.01 rupees) per tn, down 0.7% from the previous close.

NCDEX mustard gains on short covering post 2-mo low

Ram Gopal Yadav (7 years ago)

The January contract of mustard seed rose on the NCDEX as investors covered their short positions after prices hit a near-two-month low. The January contract was at 3,961 rupees per 100 kg, up 0.5% from the previous close. Prices had fallen in the past two trading days due to lacklustre demand from oil millers. Lower mustard acreage this year further supported prices of the oilseed.

Telangana farmers told to check disease in groundnut.

Ram Gopal Yadav (7 years ago)

IMD’s Agrimet has advised farmers in Telangana to spray insecticides on the groundnut crop to control the spread of stem rot disease. The disease causes severe seedling mortality resulting in patchy crop in sandy loam soils and reduces the yields by around 30%. The current weather in the state helps spread this disease in the groundnut crop. The state is among the major growers of rabi groundnut in the country.

Ukraine November’s rape oil output hit a four-year low

Ram Gopal Yadav (7 years ago)

Rape oil production by Ukraine’s large and medium-sized crushers fell to a four-year low of 0.131 KMT in November 2017. Nonetheless, the results of the first five months of MY 2017/18 are 33.8% higher than a year ago: 79.1 KMT against 59.1 KMT, respectively.