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Agri commodities: Guar gum, guar seed, soybean futures up on upbeat demand

Guar seed prices rose by Rs 16.5 to Rs 4,016 per 10 quintal in futures trade on Wednesday.

PTI|
Oct 30, 2019, 02.44 PM IST
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Agri Commodities: Guar gum, mustard seed, coriander gain on spot demand
Guar gum for November delivery also rose by Rs 30, or 0.39 per cent, to Rs 7,815 per five quintal, mirroring an open interest of 380 lots.
New Delhi: Guar gum prices rose by Rs 43 to Rs 7,700 per five quintal in futures trade on Wednesday amid strong export demand in spot market.

On the National Commodity and Derivatives Exchange, guar gum contracts for December delivery traded higher by Rs 43, or 0.56 per cent, at Rs 7,700 per five quintal in 34,960 lots.

Guar gum for November delivery also rose by Rs 30, or 0.39 per cent, to Rs 7,815 per five quintal, mirroring an open interest of 380 lots.

Guar seed

Guar seed prices rose by Rs 16.5 to Rs 4,016 per 10 quintal in futures trade on Wednesday as participants widened their holdings, driven by a firm trend in spot market.

On the National Commodity and Derivatives Exchange, guar seed contracts for November delivery increased by Rs 16.5, or 0.41 per cent, to Rs 4,016 per 10 quintal with an open interest of 56,750 lots.

Marketmen said raising of bets by speculators on a firm trend in spot market due to thin supplies from growing belts mainly led to rise in prices here.

Coriander

Coriander prices fell by Rs 38 to Rs 6,720 per quintal in futures trade on Wednesday as participants cut down positions amid muted domestic and export demand.

Besides, rising arrivals from major producing regions and profit booking at higher levels weighed on the sentiment.

On the National Commodity and Derivatives Exchange, coriander prices for November delivery declined Rs 38, or 0.56 per cent, to Rs 6,720 per quintal with an open interest of 14,490 lots.

Similarly, coriander contracts for December traded lower by Rs 30, or 0.44 per cent, at Rs 6,725 per quintal with an open interest of 6,920 lots.

Cottonseed oil cake

Cottonseed oil cake prices rose 0.07 per cent to Rs 2,115 per quintal in futures trade on Wednesday as speculators indulged in expanding their holdings in tune with a firm trend in spot market.

Market players mentioned the rise in cottonseed oil cake futures to expansion of portfolios by investors.

On the National Commodity and Derivatives Exchange, cottonseed oil cake contracts for January was trading up Rs 1.5, or 0.07 per cent, at Rs 2,115 per quintal with an open interest of 33,260 lots.

Soybean

Soybean prices increased by Rs 14 to Rs 3,778 per quintal in futures trade on Wednesday as speculators raised their positions supported by a strong spot demand.

Marketmen said fresh positions created by participants following upsurge in domestic demand pushed up soybean prices here.

On the National Commodity and Derivatives Exchange, soybean contracts for November delivery traded higher by Rs 14, or 0.37 per cent, to Rs 3,778 per quintal in 69,320 lots.

Mustard seed

Mustard seed prices rose 0.47 per cent to Rs 4,299 per quintal in futures trade on Wednesday as participants widened their holdings tracking a firm trend in spot market.

On the National Commodity and Derivatives Exchange, mustard seed contracts for November delivery rose by Rs 20, or 0.47 per cent, to Rs 4,299 per quintal in 41,830 lots.

Mustard seed contracts for December delivery also traded higher by Rs 16, or 0.37 per cent, at Rs 4,284 per quintal in 21,350 lots.

Marketmen said strong demand from oil millers mainly pushed up mustard seed prices here.

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