18 August, Commodity Predictions by Money Maker Research

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NEWS HEADLINES

Cardamom Cardamom futures are expected to trade in positive note for the day. Prices may trade lower initially on profit booking for recent sharp gains. However, prevailing bullishness in the market may limit the loss. Below normal monsoon rainfall in Idukki district and in other major growing regions has thinned down the expectations of good crop. Carryover stocks from last season are reported to be very low at the production centers.

Castor :Castor futures are expected to trade higher for the day. Purchasing activities are likely to increase by crushing units at major physical market on expectation of higher export demand for Indian castor oil and castor meal. Although the area under the crop is higher in Gujarat and Rajasthan as on 11th August’17 but we expect overall acreage will be more or less same Y/Y.

Mentha oil :Mentha Oil futures prices are expected to trade upside during today’s trading session.

As per sources, India contributes around 80% to the total global Mentha oil production. Total global production stood at around 48,000 tonnes, out of which India produces between 30,000-40,000 tonnes. According to estimates, Mentha oil production in India for crop year 2016-17 will be around 38,000 tonnes. As per the data, the global demand of essential oil will increase in the coming years.

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CHART OF THE DAY

MENTHA OIL

BUY MENTHA OIL AUG ABOVE 1223 TARGET 1235/1247 STOPLOSS 1208

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