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Agri Commodities: Guar gum, castor seed, coriander rise on spot demand

Guar seed contracts for August delivery also rose by Rs 16.5 to Rs 4,330 per 10 quintal.

PTI|
Jun 20, 2019, 03.37 PM IST
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Marketmen attributed the rise in guar seed prices to raising of positions by participants on a firm trend at the spot market.
New Delhi: Guar gum prices rose by Rs 41 to Rs 8,583 per five quintal in futures trade Thursday amid upbeat export demand at the physical markets.

On the National Commodity and Derivatives Exchange, guar gum contracts for July delivery traded higher by Rs 41, or 0.48 per cent, at Rs 8,583 per five quintal with an open interest of 56,805 lots.

Guar gum contracts for August also rose by Rs 51, or 0.59 per cent, to Rs 8,714 per five quintal, mirroring an open interest of 8,665 lots.

Castor seed

Castor seed prices rose by Rs 32 to Rs 5,390 per quintal in futures trade Thursday after investors widened their bets amid firm trend at the spot market.

On the National Commodity and Derivatives Exchange, castor seed contracts for July delivery traded higher by Rs 32, or 0.60 per cent, at Rs 5,390 per quintal, clocking an open interest of 2,00,485 lots.

Castor seed for August also edged higher by Rs 48, or 0.88 per cent, to Rs 5,486 per quintal with an open interest of 57,430 lots.

Apart from rising demand from consuming industries, short position of stocks in spot market led to the rise in castor seed futures, marketmen said.

Guar seed

Guar seed prices advanced by Rs 17 to Rs 4,269 per 10 quintal in futures trade Thursday as participants widened their bets buoyed by a firm trend at the physical market.

On the National Commodity and Derivatives Exchange, guar seed contracts for July delivery hardened by Rs 17, or 0.40 per cent, to Rs 4,269 per 10 quintal with a business turnover of 1,08,000 lots.

Guar seed contracts for August delivery also rose by Rs 16.5, or 0.38 per cent, to Rs 4,330 per 10 quintal with an open interest of 32,920 lots.

Marketmen attributed the rise in guar seed prices to raising of positions by participants on a firm trend at the spot market.

Mustard seed

Mustard seed prices rose 0.54 per cent to Rs 3,939 per quintal in futures trade Thursday after participants widened their holdings, tracking a firm trend at the spot market.

Marketmen said strong demand from oil millers mainly pushed up the prices.

At the National Commodity and Derivatives Exchange, mustard seed contracts for July delivery gained Rs 21, or 0.54 per cent, to Rs 3,939 per quintal with an open interest of 94,970 lots.

Mustard seed contracts for August delivery also advanced by Rs 20, or 0.51 per cent, to Rs 3,960 per quintal in 11,240 lots.

Coriander

Coriander prices rose by 1.02 per cent to Rs 6,940 per quintal in futures market Thursday as participants built up fresh positions amid rising spot demand.

Besides, tight stocks on account of restricted arrivals from major growing regions weighed on coriander prices.

On the National Commodity and Derivatives Exchange, coriander contracts for July delivery edged higher by Rs 70, or 1.02 per cent, to Rs 6,940 per quintal with an open interest of 28,250 lots.

Similarly, coriander for August delivery was trading higher by Rs 53, or 0.76 per cent, at Rs 7,038 per quintal with an open interest of 3,670 lots.

Market analysts attributed the rise in coriander futures to upsurge in demand in the physical market against tight stocks position.

Refined soya oil

Refined soya oil prices rose 0.11 per cent to Rs 740 per 10 kg in futures trade Thursday as speculators raised their bets.

On the National Commodity and Derivatives Exchange, refined soya oil contracts for July delivery moved up by 85 paise, or 0.11 per cent, to Rs 740 per 10 kg with an open interest of 48,070 lots.

Similarly, soya oil contracts for August delivery edged up by Rs 1.4, or 0.19 per cent, to Rs 729.5 per 10 kg in 20,640 lots.

Analysts said widening of positions by traders mainly led to the rise in refined soya oil prices.

Soybean

Soybean prices inched up by Rs 26 to Rs 3,622 per quintal in futures trade Thursday on strong spot demand.

At the National Commodity and Derivatives Exchange, soybean contracts for July delivery moved up by Rs 26, or 0.72 per cent, to Rs 3,622 per quintal with an open interest of 99,540 lots.

Marketmen said widening of portfolios by investors gave push to soybean prices at futures trade.
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