Today Mentha Oil Live Update

Mentha oil settled up by 0.65% at 915.8 driven by strong demand at spot markets from consuming industries. Besides, restricted arrivals from Chandausi in Uttar Pradesh too influenced mentha oil prices. 

At Bareilly market estimated market supply was at 1 Drums(1-drum-180kg), lower by 1 Drums(1-drum-180kg) as against previous day. 

Menthaoil trading range for the day is 888.9-932.3.
Mentha oil spot at Sambhal closed at 1036.40 per 1kg.
Spot prices is up by Rs.2.00/-.
Mentha oil prices ended with gains driven by strong demand at spot markets from consuming industries.
Besides, restricted arrivals from Chandausi in Uttar Pradesh too influenced mentha oil prices.
At Chandausi market sources reported arrivals at 15 Drums (1-drum-180kg), lower by 5 Drums(1-drum-180kg) as against previous day.


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OPEC Says Indonesia To Rejoin Oil Group After 7-Year Break

Indonesia is reactivating its membership of the Organization of the Petroleum Exporting Countries in December, OPEC said on Tuesday, which would add almost 3 percent to the group's oil output already close to a record high.
The southeast Asian country would be the fourth-smallest producer in the Organization of the Petroleum Exporting Countries ahead of Libya, Ecuador and Qatar, and bring the number of participants to 13 countries.
Indonesia was the only Asian OPEC member for nearly 50 years before leaving the group at the start of 2009 as oil prices hit a record high, and rising domestic demand and falling production turned it into a net oil importer.
In a statement, OPEC said Indonesia's request to reactivate its full membership was circulated to OPEC members and following their feedback, OPEC's next meeting on Dec. 4 will include the formalities of reactivating its membership.
"Indonesia has contributed much to OPEC's history," the statement from the group's Vienna headquarters said. "We welcome its return to the Organization."
Indonesia's Energy Minister, who OPEC said will be invited to December's meeting, told Reuters earlier on Tuesday the country would return as a full member.
OPEC pumps more than a third of the world's oil and is engaged in a defense of market share, having dropped its long-standing policy of cutting output to support prices in November 2014.
The addition of Indonesia's output will boost OPEC's production by about 2.6 percent based on July output figures towards 33 million barrels per day (bpd) - far in excess of OPEC's 30 million bpd official target.
OPEC output has not been above 32 million bpd since 2008, before Indonesia's exit.

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Weak Economic Outlook and Oversupply Weigh On Oil Markets

Oil prices remained weak on Tuesday as the global economic outlook darkened further and cooperation between oil producing countries to curb oversupply looked unlikely. 

Japan's economy shrank an annualised 1.2 percent in April-June, revised GDP data showed on Tuesday, despite ongoing government and central bank measures to support growth.

"Oil prices are now expected to stay around current levels until the end of 2015, before rising to the mid to high 50s by the end of 2016," National Australia Bank said in its September.

 US crude benchmarks were at USD 44.60 per barrel at 0152 GMT, down USD 1.45 since Friday's close, weighed down by the closure of the largest crude distillation unit at Exxon Mobil Corp's 502,500 barrel-per-day (bpd) Baton Rouge, Louisiana, refinery.

 US markets were closed on Monday for a holiday. 

Not impacted by the refinery outage, Brent futures firmed 32 cents in early trading to USD 47.95 barrel, although the global benchmark was still down USD 1.32 from its opening value on Monday.


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Gold Holds Near 2-1/2 Week low as US Rate Outlook Weighs

Gold steadied on Tuesday after a four-day losing streak, but the metal wasn't too far from a 2-1/2-week low as it struggled to find direction amid uncertainty over a looming U.S interest rate hike.
* Spot gold ticked up 0.1 percent to USD 1,120.61 an ounce by 0048 GMT. It slid to USD 1,116.20 on Monday, its lowest since August 19. * US gold GCcv1 dipped 0.1 percent to USD 1,120.10.
* Investors had been awaiting Friday's US jobs report to gauge the strength of the economic recovery and whether it would prompt the Federal Reserve to hike rates at its policy meet later this month. But the data failed to provide adequate clarity regarding a Fed move amid volatility in financial markets.
* Bullion traders have said gold will likely be under pressure until the Fed policy meet on Sept. 16-17 due to persistent uncertainty. Gold prices have been dented this year by expectations the Fed will hike rates for the first time in nearly a decade.
* Gold has failed to find a strong safe-haven bid despite the recent weakness in stocks due to worries over the Chinese economy. It has also failed to pick up cues from trading activity in the dollar, showing that gold is struggling to find direction outside of US monetary policy.

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LME Inventory Data Today – 07/09/2015

COMMODITY	Data of 04/09/2015 (Released on Friday)	PREVIOUS-DAY DATA (07/09/2015)
ALUMINIUM	- 8900 MT	- 8950 MT
COPPER	- 4975 MT	- 3525 MT
LEAD	- 2925 MT	- 2125 MT
NICKEL	- 48 MT	- 1668 MT
TIN	NA	- 35 MT
ZINC	- 2025 MT	+25775 MT

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Today Turmeric Update By MarketMagnify

Turmeric settled flat on late profit booking after prices gained due to falling stocks, lower arrivals amidst festive season demand and export queries. Turmeric sowing area reported high in Maharashtra and Tamil Nadu state during the current sowing period. However, deficient monsoon in August may affect turmeric production in rainfed areas. As on 26 Aug 2015, turmeric sowing In AP, is recorded at 11,724 hectares increase over last years’ acreage but below normal area of 12,275 hectares while in Telangana, 78 per cent sowing is completed at 38,990 hectares, still below the normal area 42,983 hectares as on 19th Aug.
Turmeric trading range for the day is 8636-9152.
Turmeric settled flat on late profit booking after prices gained due to falling stocks, lower arrivals amidst festive season demand and export queries.
Turmeric sowing area reported high in Maharashtra and Tamil Nadu state during the current sowing period.
NCDEX accredited warehouses turmeric stocks gained by 10 tonnes to 12987 tonnes.
In Nizamabad, a major spot market in AP, the price ended at 8496 rupees gained 46 rupees.

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Zinc Drops 0.54% on Downbeat Demand

Zinc futures fell by 0.54 per cent to Rs 119.70 per kg today as speculators reduced positions in the midst of a weak trend overseas. Besides, low demand in domestic spot markets fuelled the downtrend. Zinc futures for September 2015 contract, at MCX, were trading at Rs 119.70 per kg, down by 0.54 per cent after opening at Rs. 120.20 against the previous closing price of Rs. 120.35. It touched the intra-day low of Rs. 119.40 till the trading. 

However, losses were curbed due to the decline in the zinc stockpiles at the London Metal Exchange (LME) on account of the strong demand for the commodity. LME zinc stocks fell by 2025 metric tonnes to 526875 metric tonnes as on September 4, 2015. Major refined zinc exporting countries are Canada, Australia and Rep. of Korea, while major refined zinc importing countries are China, USA and Germany.

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Oil prices down in Asian trade

Oil prices eased in Asian trade on Monday as dealers await the US Federal Reserve's decision on whether to raise interest rate following a mixed August jobs report, analysts said. US benchmark West Texas Intermediate for October delivery fell 35 cents to USD 45.70 while Brent crude for October eased 38 cents to USD 49.23 in mid-morning trade. 

The US Labor Department said Friday the economy added 173,000 jobs in August, fewer than estimated. 

However, the previous two months' job gains were revised upward, pushing the unemployment rate down more than expected to 5.1 percent, its lowest level since April 2008.


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कमोडिटी बाजारः सोने-चांदी में क्या करें

घरेलू बाजार में आज सोने में हल्की मजबूती है, लेकिन अंतरराष्ट्रीय बाजार में दबाव है। इस बीच हाजिर में सोना करीब 4 फीसदी के डिस्काउंट पर बिक रहा है। कमजोर मॉनसून से इस साल घरेलू बाजार में सोने की मांग कमजोर पड़ गई है। वहीं आज अमेरिका में नॉन फार्म पेरोल डेटा से पहले अंतरराष्ट्रीय बाजार में सोने में दबाव है। घरेलू बाजार में वायदा में सोना करीब 0.5 फीसदी बढ़कर 26,500 रुपये पर पहुंच गया है। इसके अलावा एमसीएक्स पर चांदी 0.5 फीसदी की मजबूती के साथ 35,600 रुपये पर पहुंच गई है।
कल की तेजी के बाद कच्चे तेल मे फिर से गिरावट आई है। अंतरराष्ट्रीय बाजार में क्रूड करीब 1 फीसदी फिसल गया है। नायमैक्स पर डब्ल्यूटीआई क्रूड का भाव 46.3 डॉलर प्रति बैरल के स्तर पर आ गया है, जबकि ब्रेंट क्रूड का दाम 50.3 डॉलर पर नजर आ रहा है। वहीं घरेलू बाजार में कच्चा तेल 0.1 फीसदी की मामूली कमजोरी के साथ 3,080 रुपये के आसपास कारोबार कर रहा है। लेकिन नैचुरल गैस करीब 0.5 फीसदी गिरकर 180.2 रुपये पर आ गया है।
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Daily Soyabean Market Update-04-09-2015

Soyabean settled up by 0.9% at 3248 due to improved demand from oil crushers. The new season arrivals in India shall commence next month onwards when the key mandis start receiving new season harvests. However festival linked demand might emerge in upcoming weeks. Soybean sowing in Madhya Pradesh, India's biggest soybean producer, jumped 5.19% till now on improved monsoon, data released by Soybean Processors Association of India (SOPA) showed. Area sown in MP as per government data stood at 5.834 million hectare compared to 5.54 million hectare area sown during 2014.

Soyabean trading range for the day is 3205-3301.
Soyabean prices ended with gains due to improved demand from oil crushers.
The new season arrivals in India shall commence next month onwards when the key mandis start receiving new season harvests.
Area sown in Rajasthan as per government data jumped 60.86% to 1.09 million hectare compared to 682,000 hectare in the same period a year ago.
At the Indore spot market in top producer MP, soybean gained 13 rupee to 3427 rupee per 100 kgs.


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