subject: Domestic Commodity Markets [print this page] At NCDEX, the Dhaanya, an agri commodity benchmark index, is closed at 1,086.49, down by 0.03%.
On the domestic front, Mentha Oil traded higher in future trading yesterday after traders created fresh positions, driven by rising demand at the spot market, amid low stocks. At MCX future, Mentha Oil for December contract traded at Rs 1,179.90, up by 2.33 per cent, Mentha Oil for January contract traded at Rs 1,196.50, up by 2.34 per cent and Mentha Oil for February contract traded at Rs 1,203.00, up by 2.10 per cent.
The price of Refined Soya Oil increased in future trading yesterday as traders enlarged their positions in tandem with a firm trend in the spot markets. At MCX future, Refined Soya Oil for March contract traded at Rs 643.10, up by 2.90 per cent. Further, drop in supplies from overseas markets also supported the rise in prices.
Yesterday, at MCX future, the top gainers were Refined Soya Oil for March contract (2.90%), Mentha Oil for January contract (2.34%), Mentha Oil for December contract (2.33%), Mentha Oil for February contract (2.10%) and Refined Soya Oil for January contract (1.59%)
The top losers at MCX future were Cardamom for February contract (-2.46%), Cardamom for March contract (-2.32%), Crude Oil for April contract (-2.22%), Potato TRWR for May contract (-2.15%) and Crude Oil for January contract (-2.13%)
Yesterday, at NCDEX future, the top gainers were Copper Cathode for February contract (1.6%), Refined Soya Oil for January contract (1.6%), Castor Seed for February contract (1.5%), Cotton Seed Oilcake for January contract (1.5%) and Cotton Seed Oilcake for April contract (1.5%)
The top losers at NCDEX future were Turmeric for April contract (-4.0%), Turmeric for May contract (-4.0%), Chilli for March contract (-3.0%), Chilli for February contract (-2.8%) and Coriander for January contract (-2.7%)
Yesterday, at MCX future, the top traded commodities in terms of quantity were Crude Oil for January contract with 1,14,932 lots, Copper for February contract with 99,807 lots, Silver M for February contract with 84,475 lots, Silver for March contract with 61,294 lots and Natural Gas for January contract with 45,148 lots.
On the domestic arena, at MCX future, Crude Oil for January contract traded at Rs 4,035.00. Gold for February contract traded at Rs 20,717.00, Gold M for February contract traded at Rs 20,713.00. Silver for March contract traded at Rs 45,911.00. Natural gas for January contract closed at Rs 193.80.
In the international market, Oil dropped for a third day after a U.S. government report showed a smaller-than-forecast drop in crude inventories in the world"s biggest consuming nation. Crude oil for February delivery dropped as much as 32 cents, or 0.4 per cent, to USD 89.52 a barrel on the New York Mercantile Exchange and was at USD 89.75 at 10:02 a.m. Singapore time. Brent crude oil for February settlement was at USD 93.06 a barrel, down 3 cents, on the ICE Futures Europe exchange in London. Yesterday, the contract dropped USD 1.05, or by 1.1 percent, to USD 93.09 a barrel.
On the domestic front, Food inflation sharply increased for the fourth consecutive week in mid-December to touch a 10-week high. Inflation in food items, based on the annual Wholesale Price Index, zoomed to 14.44 per cent on an annual basis in the week to December 18th 2010, up from 12.13 per cent a week ago, with items such as onions, milk, fruits, along with eggs, fish and meat products contributing to the spurt. The Primary Articles index was up by 17.24 per cent in the latest week compared with an annual rise of 15.35 per cent a week ago.
The Union government will open registration for cotton exports for a second time this season from today for one week. The quantity to be shipped has not been specified.
Edible oil prices, which have increased about Rs 10-12 per litre in last two-three months across the country, are likely to remain firm till the end of March. The price may ease after March if the production of Rabi crop goes up this oil year, from November 1st, 2010, to October 31st, 2011.
