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Agri Commodities: Soya oil, guar seed, guar gum slump in futures trade amid low demand

Cottonseed oil cake prices on Thursday fell by Rs 4 to Rs 1,806 per quintal in futures trade.

PTI|
Last Updated: Feb 13, 2020, 03.04 PM IST
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Refined soya oil prices on Thursday fell by Rs 1.8 to Rs 847.4 per 10 kg in futures trade.
Refined soya oil prices on Thursday fell by Rs 1.8 to Rs 847.4 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 February declined by Rs 1.8 to Rs 847.4 per 10 kg in 15,835 lots.

The refined soya oil contracts for March dropped by Rs 3, or 0.36 per cent, to Rs 834.8 per 10 kg in 54,350 lots.

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

Mustard

Mustard seed prices on Thursday rose by Rs 11 to Rs 4,062 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 February rose by Rs 11, or 0.27 per cent, to Rs 4,062 per quintal with an open interest of 2,880 lots.

Similarly, the delivery for April gained Rs 7, or 0.17 per cent, to Rs 4,061 per quintal with an open interest of 17,590 lots.

Soybean
Soybean prices on Thursday rose by Rs 28 to Rs 3,992 per quintal in futures market as traders created fresh positions in line with spot demand.

On the National Commodity and Derivatives Exchange, soybean for February delivery rose by Rs 28, or 0.71 per cent, to Rs 3,992 per quintal with an open interest of 16,545 lots.

Soybean for March delivery rose by Rs 32, or 0.81 per cent, to Rs 3,962 per quintal with an open interest of 1,42,355 lots.

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

Guar seed
Guar seed prices on Thursday edged lower by Rs 18 to Rs 3,872 per 10 quintal in futures trade as participants reduced their holdings in line with a weak spot demand.

Marketmen attributed the downward trend in guar seed prices to increasing supplies from growing regions.

On the National Commodity and Derivatives Exchange, guar seed contracts for February delivery fell by Rs 18, or 0.46 per cent, to Rs 3,872 per 10 quintal with an open interest of 8,590 lots.

Similarly, guar seed contracts for March delivery shed Rs 12, or 0.31 per cent, to Rs 3,918 per 10 quintal with an open interest of 71,095 lots.

Cottonseed oil
Cottonseed oil cake prices on Thursday fell by Rs 4 to Rs 1,806 per quintal in futures trade as participants reduced their bets amid a weak trend in spot market.

Market players said sell-off by participants at the 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 February fell by Rs 4, or 0.22 per cent, to Rs 1,806 per quintal with an open interest 21,460 lots.

Cottonseed oil cake for delivery in March went down by Rs 5, or 0.27 per cent, to Rs 1,825 per quintal in 73,900 lots.

Guar gum

Guar gum prices on Thursday eased by Rs 46 to Rs 6,786 per five quintal in futures market as traders reduced their positions tracking weak trend at the spot market.

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

On the National Commodity and Derivatives Exchange, guar gum contracts for February delivery slipped by Rs 46, or 0.67 per cent, to Rs 6,786 per five quintal in 2,445 lots.

Guar gum contracts for March delivery eased by Rs 34, or 0.49 per cent, to Rs 6,870 per five quintal in 55,890 lots.
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