Cardamom on MCX settled down by -1.14% at 1138.8 tracking weakness in spot demand on profit booking after prices seen supported in the last week. Arrivals are increasing in the auctions and exporters are in the market but higher levels may lack follow up support. Rains during the current season are normal in all the three growing states, namely Kerala, Tamil Nadu and Karnataka, India Met Department data showed. Erratic rainfall in producing areas impact output numbers and may be lower than earlier estimates.

Cardamom second picking activity is going on in Kerala. In 2017-18 crop year, earlier expected production around 26,000-28,000 MT but in midway weather condition not favourable for standing crop so production slightly fall expected, now good weather reported in Indian growing regions. Earlier cardamom output in 2017-18 crop year was expected production around 26,000-28,000 tons but in midway weather condition were not favorable for standing crop so production may be slightly lower than earlier estimates.


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Jeera on NCDEX settled down by -0.25% at 19645 on profit booking after prices seen supported because of depleted stocks and expectations of good export demand in the coming months. Supplies in major producing centres of Gujarat and Rajasthan are falling day by day because of fag-end of the season. Good export demand is expected due to poor supplies from other jeera producing countries-Syria and Turkey.

Jeera sowing begins in October and new crop supplies commence in Feb-Mar. Area under jeera crop is likely to increase in the coming season because of prevalent very attractive prices. Above normal rains in producing centres of Gujarat and Rajasthan may help to boost acreage. India's 2016-17 jeera output fell to 489,000 ton from 503,000 ton a year ago, Agriculture Ministry data showed. Jeera exports have been lower than anticipated during the first quarter of new financial year 2017/18.


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Turmeric on NCDEX settled down by -0.19% at 7464 on profit booking after prices gained due to higher export demand and poor arrivals. Anticipation of lower acreage during the current season also supported the price rise. As per the data release by government, the exports during the first quarter of FY 2017/18 is down 10% to 33,323 tonnes, compared to last year exports volume for the same period.

The production estimate of turmeric for 2016/17 is pegged at 11.32 lakh tonnes by government in 3rd advance estimate higher from 9.43 lakh tonnes in 2015/16. For 2017/18, turmeric sowing in Telangana, down 1.5% to 44,956 hectares as compared to last year acreage of 45,633 hectares. Only medium quality turmeric arrived for sale.

For the second consecutive day, only 2,200 bags were offered. Of the total arrival, 90 per cent stocks were of medium quality and remaining were in poor quality. The traders purchased 75 per cent of the total arrived stock. Because of non-receipt of upcountry demand, they sold it for local turmeric powder grinding units and masala firms. The price of turmeric did not improve. Some 200 bags of finger turmeric arrived to the Regulated Marketing Committee and Erode Cooperative Marketing Society and the traders purchased them quoting Rs. 200 a quintal more than previous day price.


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Mustard Seed on NCDEX settled down by -0.05% at 3778 tracking weakness in spot demand on good carryover stocks from last season. There is an anticipation of good demand from the oil millers in coming weeks on good crushing demand because of improved mustard meal exports in first 5 month of FY 2017/18. Country exported 216,258 tonnes mustard meal during this period which is 122% higher on year. India's mustard meal exports for the month of July also rose 56.4% on year to 50,649 tonnes as per SEA data.

As per SEA recent data, mustard oil imports for period Nov-July down 23% to 1.94 lt in current oil year compared to 2.55 lt in the previous year. As per data compiled by Mustard Oil Producers Association of India, Oil mills across the country crushed 450,000 tn of mustard seed in August, down over 18% from the previous month. Markets in Gujarat recorded arrivals of 245,000 tn of mustard seed, according to the data.

The total marketable surplus of mustard is pegged at 6.78 mln tn, which includes carryover stock of 200,000 tn. About 350,000 tn of the seed had been retained by farmers for sowing and direct consumption, the official said. Data released by the Solvent Extractors' Association of India showed mustard oil imports for period Nov-July dropped 23% to 194,000 tons in current oil year compared to 255,000 tons in the previous year.


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Crude palm Oil on MCX settled down by -0.3% at 539.9 on profit booking after prices gained tracking good demand in the physical market and also helped by recent surge in international prices. The prices were also supported due to increase in tariff value for Crude palm oil and higher import duty. Malaysia palm oil exports during Sep 1-20 climbed 25.4% compared to same period a month on strong demand from China, India & Subcontinents and Middle East, data showed.

Malaysia palm oil exports jumped to 852,206 tons during Sep 1-20 compared to 679,539 tons for the same period a month ago, DowJones reported citing data from Intertek, a private surveyor. Palm oil imports by China from Malaysia during Sep 1-20 jumped 58.11% to 178,432 tons compared to 112,850 tons in the same period a year ago. Malaysia's palm oil exports to India during Sep 1-20 spurted 95.07% to 174,100 tons compared to 89,250 tons imported during Aug 1-20.


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Ref Soyaoil on NCDEX settled up by 0.37% at 673.3 on anticipation of good physical demand in coming festival season and reports of lower imports. As per the data released by SEA, Aug crude soyoil import down 13% at 289,746 tn vs 333,599 tn yr ago, while Nov-Aug crude soyoil import also down 22% to 2.74 mln tn vs 3.49 mln tn yr ago.


Moreover, recently soy oil the prices have been supported by weak rupees and increase in import tax coupled with higher tariff value for the crude soy oil in September when government increase import tariff by $33. For the second half of September, the government raised the base import price of crude soyoil by $16/tonnes to $851/tonnes. India's edible oil imports may fall by 0.65% during 2017-18 on higher availability of stocks and hope of higher output in domestic market. Imports of edible oil may fall to 15.12 million tons during 2017-18 compared to 15.20 million tons in the same period a year ago


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Soyabean on NCDEX settled up by 0.97% at 3125 on improved physical demand from oil mills and lower acreage in the country. Meanwhile, Soybean prices ticked up at overseas markets on strong demand, although expectations of near-record US production kept a lid on the market. The area under the soybean crop in India was at 10.58 mln ha, down 7.8% from a year ago, according to data released by the farm ministry.

The fall in overall acreage was led by a decline in Madhya Pradesh—the largest producer--as rains during the period of sowing were deficient, said an Agrimet official based in the state. In Madhya Pradesh, soybean acreage was at 5.01 mln ha , lower than 5.40 mln ha a year ago, according to the data.

Madhya Pradesh has received 690.2 mm of rainfall since the beginning of the Jun-Sep monsoon season, 24% below normal, according to data by India Meteorological Department's Hydromet division. In Maharashtra, farmers planted soybean across 3.82 mln ha, down 3.7% on year, while in Rajasthan, the acreage was at 969,500 ha, down from 1.09 mln ha a year ago, according to the data.


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