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Agri commodities: Coriander, guar gum, guar seed futures fall on low demand

Guar gum prices on Monday declined by Rs 134 to Rs 7,319 per five quintal in futures trade.

PTI|
Dec 02, 2019, 02.56 PM IST
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Agri Commodities: Guar gum, mustard seed, coriander gain on spot demand
Guar seed prices on Monday fell by Rs 56 to Rs 4,036 per 10 quintal in futures trade as participants reduced their holdings in line with a weak market trend.
Coriander prices fell by Rs 85 at Rs 6,600 per quintal in futures trade on Monday as speculators reduced their positions amid sluggish demand at spot market.

On the Multi Commodity Exchange, coriander contracts for December fell by Rs 85, or 1.27 per cent, to Rs 6,600 a quintal in 7,480 lots.

Similarly, coriander contracts for January delivery declined by Rs 149, or 2.24 per cent, to Rs 6,501 per quintal in 4,660 lots.

Market analysts said subdued demand by speculators in spot market led to the decline in coriander future prices.

Guar gum
Guar gum prices on Monday declined by Rs 134 to Rs 7,319 per five quintal in futures trade as traders offloaded their positions amid subdued demand.

Marketmen said trimming of positions by participants amid weak export demand dragged down guar gum prices here.

On the National Commodity and Derivatives Exchange, guar gum contracts for December delivery slipped by Rs 134, or 1.8 per cent, to Rs 7,319 per five quintal in 22,660 lots.

Guar gum contracts for January delivery eased by Rs 134, or 1.77 per cent, to Rs 7,426 per five quintal in 47,095 lots.

Cottonseed oil cake
Cottonseed oil cake prices on Monday fell by Rs 43 at Rs 1,931 per quintal in futures trade as participants reduced their bets amid a weak trend at the spot market.

Market players said sell-off by participants at the existing levels amid subdued trend at the market mainly weighed on cottonseed oil cake prices.

On the National Commodity and Derivatives Exchange, cottonseed oil cake to be delivered in December fell by Rs 43, or 2.18 per cent, to Rs 1,931 per quintal with an open interest of 43,420 lots.

Cottonseed oil cake for delivery in January next year went down by Rs 42, or 2.1 per cent, to Rs 1,954 per quintal in 18,780 lots.

Guar seed
Guar seed prices on Monday fell by Rs 56 to Rs 4,036 per 10 quintal in futures trade as participants reduced their holdings in line with a weak market trend.

Marketmen attributed the downward trend in guar seed futures to weak demand in spot market amid increasing supplies from growing regions.

On the National Commodity and Derivatives Exchange, guar seed contracts for December delivery fell by Rs 56, or 1.37 per cent, to Rs 4,036 per 10 quintal with an open interest of 48,300 lots.

Similarly, the contracts for January delivery shed Rs 57, or 1.39 per cent, to Rs 4,074 per 10 quintal with an open interest of 51,155 lots.

Mustard seed
Mustard seed prices on Monday rose by Rs 17 to Rs 4,338 per quintal in futures trade as speculators raised their bets amid limited supplies.

Marketmen said apart from restricted arrivals from growing belts, demand from oil mills in spot market mainly lifted mustard seed prices here.

On the National Commodity and Derivatives Exchange, mustard seed for delivery in December rose by Rs 17, or 0.39 per cent, to Rs 4,338 per quintal in an open interest of 28,740 lots.

Similarly, the delivery for January gained Rs 24, or 0.55 per cent, to Rs 4,373 per quintal with an open interest of 5,810.

Refined soya oil
Refined soya oil prices on Monday rose 0.10 per cent to Rs 815.2 per 10 kg in futures trade as speculators created fresh positions.

On the National Commodity and Derivatives Exchange, refined soya oil contracts for December delivery went up by 80 paise, or 0.10 per cent, to Rs 815.2 per 10 kg with an open interest of 35,430 lots.

Analysts said fresh positions built up by traders against restricted arrivals from growing regions mainly led to rise in refined soya oil prices.

Soybean
Soybean prices on Monday rose by Rs 16 to Rs 4,088 per quintal in futures trade as traders created fresh positions supported by a strong spot demand.

On the National Commodity and Derivatives Exchange, soybean for delivery in December was up by Rs 16, or 0.39 per cent, to Rs 4,088 per quintal with an open interest of 63,065 lots.

Market players said rasing of fresh positions by speculators on the back of higher demand mainly led to rise in soybean prices in future trading.

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