Mentha oil futures were trading lower during the morning trade in the domestic market on Friday as investors and speculators cut down their positions in the agri-commodity amid muted physical demand for mentha oil from major consuming industries in the domestic spot market. Further, exiting of bets by traders in the spot market was due to a fall in physical demand for mentha oil from consuming industries at the domestic spot market against sufficient stocks position on higher supplies from producing regions. At the MCX, mentha oil futures for August 2017 contract was trading at Rs 1211.80 per kg, down by 0.52 per cent, after opening at Rs 1211.10, against the previous closing price of Rs 1218.10. It touched the intra-day low of Rs 1207.40.

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Cardamom futures were trading higher during the morning trade in the domestic market on Friday as investors and speculators extended their positions in the agri-commodity amid rise in physical demand for cardamom in the domestic spot market. Further, insufficient supplies on higher physical arrivals from the major cardamom producing regions, supported the upward trend in the domestic cardamom prices. At the MCX, cardamom futures for September 2017 contract was trading at Rs 1222 per kg, up by 1.27 per cent, after opening at Rs 1205, against a previous close of Rs 1206.70. It touched the intra-day high of Rs 1222

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Cardamom on MCX settled up by 0.95% at 1183.8 amid reports of weak rains in the main producing centres of Kerala-the major producing state. Arrivals in auction centres have improved but still insufficient to meet the domestic and export demand. Rainfall in Kerala stood 28% below normal, 25% in Kerala and 14% in Tamil Nadu. Apart from domestic, export demand is also good as exporters have orders with them.

Stocks in Delhi market is estimated around 2,000 bags of 50 kilogram each. India exported 3,850 ton cardamom during 2016-17, down 30% on year due to high prices. India exported 5,550 ton cardamom a year ago. A delay in the arrival of new crop arrivals, contrary to expectations, has triggered a bullish sentiment in the small cardamom markets, aiding a price rise, albeit marginal. Arrivals stood at 281 tonnes last week, against 295 tonnes the previous week.

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Jeera on NCDEX settled up by 1.7% at 19705 amid rising demand at the spot market due to lower arrivals. Jeera production in India fell 13 per cent on a year-on-year basis to 3.87 lakh tonnes in 2016-17. Reduced production in the previous season caused lower carryover stock, which is seen as a factor for prices rising in the run-up to festival season. As anticipated by the Seeds and Spices Stakeholders Association (SSSA), arrivals from Syria and Turkey to the global markets failed to add sufficient quantities.

The carryover stock was almost nil and at one of the lowest levels of the past decade. This is due to lower crop scenario. Turkey and Syria were expected to add some volumes to global markets around June-July. The monsoon fury in parts of Gujarat and Rajasthan, where a large part of the jeera crop was stored, is feared to have caused some damage and quality issues may see prices escalating further.

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Turmeric on NCDEX settled up by 1.24% at 7354 tracking firmness in spot demand amid inadequate rainfall in almost all the producing states. Cumulative monsoon rainfall across major key states was with a departure of 14% in Telangana, 11% in Maharashtra and 25% in Karnataka. However, IMD has predicted fairly widespread rainfall in Coastal Andhra Pradesh, Rayalaseema, Tamil Nadu and Karnataka.

After good start to turmeric sowing in Telangana, acreage under turmeric, down 2.3% to 44,299 hectares as compared to last year acreage of 43,315 hectares. As per the data release by government, the exports during first five months in 2017 is 54,058 tonnes, up 22% compared to last year exports volume for the same period. The price of the turmeric decreased. At the Erode Turmeric Merchants Association Sales yard, finger turmeric sold at ₹5,529-8,989 a quintal, root variety sold at ₹5,200-8,389 a quintal.

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Mustard Seed on NCDEX settled up by 0.83% at 3757 due to strong demand and lower supply. Prices of mustard will be supported by higher demand from crusher ahead festive and winter season. Prices also seen supported by speculation of lower supply in coming season as current sowing data reflected farmers disinterest for oilseeds. Millers crushed around 11% of the total rape/mustard seed arrived till July 31 on strong demand ahead of festive season.

Till July 31 around 3.815 million tons of mustard seed have arrived in the market of which around 3.45 million tons of rape seed were crushed by the miller. According to trader India's 2017-18 total rape seed supply is expected to be around 6.92 million tons of which around 200,000 tons are old stocks and around 350,000 tons of seed retained for sowing and direct consumption. Of the total marketable surplus of 6.775 million tons around 2.96 million tons stocks are with farmers while stockiest have 365,000 tons of mustard seed till July 31.

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Crude palm Oil on MCX settled up by 0.28% at 499.4 tracking firmness in spot demand amid short covering despite of weakness in overseas prices amid higher output from Malaysia. The data released by Malaysian Palm Oil Board (MPOB) showed CPO output in the world's second biggest oil producer, climbed 21% to 1.82 million tons in July compared to 1.51 million tons in June. Closing stockpiles in July also climbed by 16.83% to 1.78 million tons compared to 1.52 million tons in June.

Malaysia palm oil exports during Aug 1-10 dropped 1.4% compared to same period a month on subdued demand from European Union, and India & Subcontinents, data showed. Malaysia palm oil exports slumped to 355,009 tons during Aug 1-10 compared to 360,144 tons for the same period a month ago, DowJones reported citing data from Intertek, a private surveyor.

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