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Agri Commodities: Cottonseed, coriander, guar gum gain in futures trade amid high demand

Cottonseed oil cake prices on Friday jumped by Rs 21 to Rs 2,083 per quintal in futures trade.

PTI|
Last Updated: Jan 17, 2020, 04.14 PM IST
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Coriander prices on Friday rose by Rs 66 to Rs 7,050 per quintal in futures trade.
Cottonseed oil cake prices on Friday jumped by Rs 21 to Rs 2,083 per quintal in futures trade due to accumulation of positions amid upbeat trend in spot market.

On the National Commodity and Derivatives Exchange, cottonseed oil cake contracts for January delivery rose by Rs 21, or 1.02 per cent, to Rs 2,083 per quintal in 3,040 lots.

Cottonseed oil cake contracts for February gained Rs 40, or 1.93 per cent, to Rs 2,114 per quintal in 91,010 lots.

Marketmen said raising of positions by participants amid rising demand from cattle-feed makers mainly influenced cottonseed oil cake prices here.

Coriander
Coriander prices on Friday rose by Rs 66 to Rs 7,050 per quintal in futures trade on strong domestic demand and restricted supplies from producing belts.

On the National Commodity and Derivatives Exchange, coriander for April delivery shot up by Rs 66, or 0.95 per cent, to Rs 7,050 per quintal with an open interest of 9,330 lots.

Similarly, the spice for May delivery traded higher by Rs 122, or 1.76 per cent, at Rs 7,060 per quintal in 240 lots.

A firm trend in spot market and restricted supplies from producing regions pushed up coriander prices here, market analysts said.

Guar gum
Guar gum prices on Friday gained Rs 26 to Rs 7,225 per five quintal in futures trade as investors increased their holdings on spot demand.

Analysts said after tracking firm physical market trend, traders raised their bets which led to rise in guar gum prices.

On the National Commodity and Derivatives Exchange, guar gum delivery for January contracts gained 0.36 per cent, or Rs 26, to Rs 7,225 per five quintal with an open interest of 355 lots.

Likewise, the delivery of February contract surged by Re 1, or 0.01 per cent, to Rs 7,275 per five quintal as open interest stood at 57,270 lots.

Guar seed
Guar seed prices on Friday rose by Rs 30 to Rs 4,096 per 10 quintal in futures trade after participants widened their holdings driven by a firm trend in spot market.

On the National Commodity and Derivatives Exchange, guar seed for January contracts rose by Rs 30, or 0.74 per cent, to Rs 4,096 per 10 quintal with an open interest of 980 lots.

Similarly, guar seed for February delivery gained Rs 8 to Rs 4,092 per 10 quintal with an open interest lots of 89,150.

According to marketmen, raising of bets by speculators tracking a firm trend in spot market on thin supplies from growing belts mainly led to rise in guar seed prices here.

Mustard
Mustard seed prices on Friday dropped by Rs 6 to Rs 4,301 per quintal in futures trade as speculators cut down their positions on subdued demand.

On the National Commodity and Derivatives Exchange, mustard seed contracts for February delivery fell by Rs 6, or 0.14 per cent, to Rs 4,301 per quintal in a business turnover of 12,540 lots.

Mustard seed contracts for April delivery declined by Rs 20, or 0.46 per cent, to Rs 4,300 per quintal in a business turnover of 11,030 lots.

Marketmen said offloading of positions by participants following a weak trend in spot market led to fall in mustard seed prices.

Soya oil
Refined soya oil prices on Friday fell by Rs 3.2 to Rs 907 per 10 kg in futures trade as speculators reduced holdings amid subdued demand in spot market.

On the National Commodity and Derivatives Exchange, refined soya oil for delivery in January declined by Rs 3.2, or 0.35 per cent, to Rs 907 per 10 kg in 5,100 lots.

The refined soya oil contracts for February dropped by Rs 4, or 0.45 per cent, to Rs 885.2 per 10 kg in 58,060 lots.

Market analysts said cutting down of positions by participants against ample stocks mainly influenced refined soya oil prices.

Soybean
Soybean prices on Friday fell by Rs 4 to Rs 4,232 per quintal in futures market as traders cut down their positions amid weak cues from physical markets.

On the National Commodity and Derivatives Exchange, soybean to be delivered in January contracts moved down by Rs 4, or 0.09 per cent, to Rs 4,232 per quintal with an open interest of 8,490 lots.

Soybean for delivery in February contracts also eased by Rs 26, or 0.62 per cent, to Rs 4,186 per quintal with an open interest of 1,92,375 lots.

The fall in soybean prices in futures trade was mostly due to reduction of exposure by participants, marketmen said.

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