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Agri commodities: Guar gum, guar seed, mustard seed futures up on spot demand

Guar seed prices on Friday rose Rs 35.5 to Rs 4,109.5 per 10 quintal in futures trade.

PTI|
Nov 01, 2019, 02.32 PM IST
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PTI
Mustard seed futures fall on low demand
Mustard seed prices on Friday rose by Rs 20 to Rs 4,326 per quintal in futures trade following raising of positions by participants.
New Delhi: Guar gum prices rose by Rs 81 to Rs 7,785 per five quintal in futures trade on Friday as investors created fresh bets on firm spot demand.

On the National Commodity and Derivatives Exchange, guar gum contracts for November rose by Rs 81, or 1.05 per cent, to Rs 7,785 per five quintal with an open interest of 18,065 lots.

Besides, guar gum for December delivery advanced by Rs 73, or 0.93 per cent, to Rs 7,894 per five quintal with an open interest of 43,400 lots.

Restricted arrivals from growing regions aided the rise in guar gum future prices, traders said.

Guar seed

Guar seed prices on Friday rose Rs 35.5 to Rs 4,109.5 per 10 quintal in futures trade after participants widened their holdings, driven by a firm trend at the spot market.

On the National Commodity and Derivatives Exchange, guar seed for November contracts advanced by Rs 35.5, or 0.87, to Rs 4,109.5 per 10 quintal with an open interest of 69,050 lots.

Similarly, guar seed for December delivery gained Rs 28.5, or 0.69 per cent, to Rs 4,146 per 10 quintal in an open interest of 58,000 lots.

According to marketmen, raising of bets by speculators tracking a firm trend in spot market mainly led to rise in prices.

Coriander

Coriander prices on Friday fell by Rs 27 to Rs 6,785 per quintal in futures trade as speculators reduced their positions amid sluggish demand in spot market.

On the Multi Commodity Exchange, coriander contracts for December fell by Rs 27, or 0.4 per cent, to Rs 6,785 per quintal in 8,910 lots.

Similarly, coriander contracts for January declined by Rs 63, or 0.92 per cent, to Rs 6,800 per quintal in 230 lots.

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

Mustard seed

Mustard seed prices on Friday rose by Rs 20 to Rs 4,326 per quintal in futures trade following raising of positions by participants.

Demand from oil mills in spot market mainly lifted mustard seed prices in futures trade, analysts said.

On the National Commodity and Derivatives Exchange, mustard seed delivery for November was up by Rs 20, or 0.46 per cent, to Rs 4,326 per quintal in 25,770 lots.

The delivery for December gained Rs 33, or 0.77 per cent, to Rs 4,312 per quintal in 19,390 lots.

Cottonseed oil cake

Cottonseed oil cake prices on Friday fell Rs 2.5 to Rs 2,278 per quintal in futures trade as participants reduced their bets amid weak trend in spot market.

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

On the National Commodity and Derivatives Exchange, cottonseed oil cake to be delivered in December fell Rs 2.5, or 0.11 per cent, to Rs 2,278 per quintal in 58,500 lots.,

Cottonseed oil cake for delivery in January next year went down by Rs 4, or 0.18 per cent, to Rs 2,222 per quintal in 26,470 lots.

Soybean

Soybean prices on Friday traded higher by Rs 42 to Rs 3,934 per quintal in futures trade on fresh positions built up by speculators.

On the National Commodity and Derivatives Exchange, soybean contracts for November delivery gained Rs 42, or 1.08 per cent, to Rs 3,934 per quintal in 92,980 lots.

The delivery for January edged up by Rs 45, or 1.15 per cent, to Rs 3,968 per quintal in 33,430 lots.

Marketmen said participants raised their holdings which mainly pushed soybean futures to trade higher.

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Agri commodities: Coriander, guar gum, guar seed futures gain on spot demand

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