More delivery centres for mustard seed

NEWS DIGEST

National Commodity and Derivatives Exchange has added additional delivery centres for all contracts of mustard seed expiring from May, the exchange said in a circular late Saturday.

The exchange has also added additional delivery centres for mustard seed oilcake futures expiring from February 20.These modifications will be applicable for all mustard seed and mustard seed oilcake contracts launched from Tuesday, the exchange said.

To allow further physical delivery on the exchange, delivery centres at Narnaul and Hisar (Haryana), Rewari (Haryana), Morena (Madhya Pradesh), and Hapur (Uttar Pradesh) have been added for contracts expiring in May and thereafter, the exchange said.

The existing contracts of the commodity have delivery centres at Alwar, Kota, and Sri Ganganagar, all located in Rajasthan.

The contracts have will also have compulsory delivery on expiry.The position limits for members have been raised to 30,000 tonne or 15 per cent of market open position from 22,000 tonne, and client limit has been reduced to 10,000 tonne from 11,000 tonne, the exchange said.

Indonesian crude palm oil prices rise

Indonesian crude palm oil prices traded higher on Monday, supported by gains in crude oil and stronger Malaysian crude palm oil futures, traders said.

At the state marketing centre in Jakarta, crude palm oil traded at 4,158 rupiah ($0.451) per kg with some 1,500 tonne of the commodity changing hands.

London robusta coffee futures down

London robusta coffee futures were slightly down around midday on Monday with bargain hunting demand emerging after an early decline on speculative selling, dealers said.

"I think there was some spec selling looking for (sell) stops but when they found there weren't many around the market picked up a bit on bargain hunting," one dealer said.

The benchmark November contract was down $4 at $1,464 a tonne after trading in a range of $1,468 to $1,440. Total volume at 1115 GMT was 1,744 lots.

Prices fell sharply late last week following a large against actuals trade posted on Thursday.

Malaysian crude palm oil futures up

Malaysian crude palm oil futures closed higher on Monday, supported by firm crude oil prices and higher export data released by a cargo surveyor.

The benchmark third-month December contract on the Bursa Malaysia Derivatives exchange finished up 12 ringgit at 1,554 ringgit ($421) a tonne after trading between 1,543 and 1,554 ringgit.

Other traded contracts were up between eight and 20 ringgit. Overall volume stood at 6,936 lots of 25 tonne each, down from 10,000 to 14,000 lots traded on a normal day. "It was crude oil and good exports which dictated the market," one trader said.