Spot Demand Lifts Jeera, and Mustard – Agricultural Commodities

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Following is the latest information about the agricultural commodities;

Mustard Seeds

Today, it was observed that the prices of mustard seed were higher by Rs 14 to Rs 3,993 per quintal in futures trade. This was seen after traders accumulated fresh positions amid a firm trend in the physical markets. The mustard seeds for delivery in April increased by Rs 14 or 0.35 percent to Rs 3,993 per quintal. Price increased with an open interest of 42,090 lots at the National Commodity and Derivatives Exchange.
Experts informed that the most-traded delivery in May too enhanced by Rs 12 or 0.30 percent to Rs 4,034 per quintal, with the business turnover of 74,100 open lots. Analysts believe that the rise in prices of mustard seed was mostly attributed to raising of bets by participants amid a firm trend at the spot markets on increased demand from consumers.

Refined soya oil

On 05 April, the refined soya oil prices eased further by 0.10 percent to Rs 784.60 per 10 kg in futures trading. This was observed because speculators engaged in trimming their buildings, triggered by sufficient stocks on increased supplies from producing regions at spot market.
The refined soya oil for delivery in May trading low by 75 paise to Rs 784.60 per 10 kg. Analysts quoted that the oil for delivery in April was trading lower by 65 paise or 0.08 percent to Rs 779.05 per 10 kg in 51,440 lots.

Soyabean

On the other hand, the prices of Soyabean were up by Rs 25 to Rs 3,856 per quintal in futures trade. On Thursday, this was observed when the participants created fresh positions in line with upbeat overseas cues. The analysts informed that the rise in soybean prices in futures trade was mostly attributed to a firm trend in global markets and an upward trend in edible oil prices.

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