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Agri Commodities: Coriander, guar seed, guar gum fall in futures trade amid weak demand

Mustard seed prices on Monday rose by Rs 26 to Rs 4,367 per quintal in futures trade.

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Last Updated: Nov 25, 2019, 02.26 PM IST|Original: Nov 25, 2019, 02.24 PM IST
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Agri Commodities: Guar gum, mustard seed, coriander gain on spot demand
Coriander prices on Monday fell by Rs 91 to Rs 6,920 per quintal in futures trade.
Mustard seed prices on Monday rose by Rs 26 to Rs 4,367 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 at spot market mainly lifted mustard seed prices here.

On the National Commodity and Derivatives Exchange, mustard seed for delivery in December rose Rs 26, or 0.44 per cent, to Rs 4,367 per quintal with an open interest of 32,170 lots.

Similarly, the delivery for January gained Rs 31, or 0.71 per cent, to Rs 4,372 per quintal with an open interest of 3,230 lots.

Guar gum
Guar gum prices on Monday plunged Rs 113 to Rs 7,715 per five quintal in futures trade as investors cut their bets following weak trend at the physical market.

Marketmen said subdued demand on persistent arrivals from growing belts mainly exerted pressure on guar gum prices here.

On the National Commodity and Derivatives Exchange, guar gum contracts for December declined by Rs 113, or 1.44 per cent, to Rs 7,715 per five quintal with an open interest of 51,005 lots.

Contracts for January delivery eased by Rs 119, or 1.50 per cent, to Rs 7,820 per five quintal with an open interest of 19,195 lots.

Cottonseed oil
Cottonseed oil cake prices on Monday fell by Rs 27 to Rs 2,087 per quintal in futures trade as participants reduced their positions amid low demand.

On the National Commodity and Derivatives Exchange, cottonseed oil cake for December delivery traded lower by Rs 27, or 1.28 per cent, at Rs 2,087 per quintal with an open interest of 46,910 lots.

Similarly, cottonseed oil cake for January slipped by Rs 28.5, or 1.35 per cent, to Rs 2,083 per quintal with an open interest of 37,850 lots.

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

Guar seed
Guar seed prices fell by Rs 30 to Rs 4,217 per 10 quintal in futures trade on Monday as investors offloaded positions amid a weak trend at the spot market.

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

On the National Commodity and Derivatives Exchange, guar seed contracts for December delivery moved down by Rs 30, or 0.71 per cent, to Rs 4,217 per 10 quintal with an open interest of 76,320 lots.

Similarly, guar seed contracts for January delivery eased by Rs 33, or 0.77 per cent, to Rs 4,248 per 10 quintal with an open interest of 25,170 lots.

Coriander
Coriander prices on Monday fell by Rs 91 to Rs 6,920 per quintal in futures trade as speculators reduced their positions amid weak demand at spot market.

On the Multi Commodity Exchange, coriander contracts for December fell by Rs 91, or 1.30 per cent, to Rs 6,920 per quintal in 10,560 lots.

Similarly, coriander contracts for January delivery declined by Rs 167, or 2.43 per cent, to Rs 6,830 per quintal in 3,110 lots.

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

Soya oil
Refined soya oil prices on Monday rose 0.72 per cent to Rs 813.15 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 Rs 5.85, or 0.72 per cent, to Rs 813.15 per 10 kg with an open interest of 47,520 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 40 to Rs 4,054 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 40, or 1.01 per cent, to Rs 4,054 per quintal with an open interest of 87,920 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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