ET Markets
12,248.2567.9
Stock Analysis, IPO, Mutual Funds, Bonds & More

Agri Commodities: Guar seed, guar gum, coriander fall in futures trade amid weak demand

Guar seed prices on Monday fell by Rs 28 to Rs 3,890 per 10 quintal in futures trade.

PTI|
Dec 16, 2019, 02.10 PM IST
0Comments
Agencies
Mustard
Mustard seed prices on Monday rose by Rs 27 to Rs 4,488 per quintal in futures trade.
Guar seed prices on Monday fell by Rs 28 to Rs 3,890 per 10 quintal in futures trade as participants reduced their holdings in line with weak market trend.

Marketmen attributed the downward trend in guar seed futures to weak demand in spot market amid increasing supplies from growing regions.

On the National Commodity and Derivatives Exchange, guar seed contracts for December delivery fell by Rs 28, or 0.71 per cent, to Rs 3,890 per 10 quintal with an open interest of 10,470 lots.

Similarly, the contracts for January delivery shed Rs 28, or 0.7 per cent, to Rs 3,944 per 10 quintal with an open interest of 82,440 lots.

Guar gum

Guar gum prices on Monday declined by Rs 59 to Rs 7,050 per five quintal in futures market as traders offloaded their positions amid subdued demand.

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

On the National Commodity and Derivatives Exchange, guar gum contracts for December delivery slipped by Rs 59, or 0.83 per cent, to Rs 7,050 per five quintal in 2,040 lots.

Guar gum contracts for January delivery eased by Rs 54, or 0.75 per cent, to Rs 7,129 per five quintal in 61,775 lots.

Coriander

Coriander prices on Monday fell by Rs 42 to Rs 6,498 per quintal in futures trade as speculators reduced their positions amid weak demand in spot market.

On the Multi Commodity Exchange, coriander contracts for January fell by Rs 42, or 0.64 per cent, to Rs 6,498 per quintal in 8,200 lots.

Similarly, coriander contracts for April delivery declined by Rs 46, or 0.67 per cent, to Rs 6,800 per quintal in 4,120 lots.

Market analysts said subdued demand by speculators in spot market mainly led to decline in coriander futures' prices.

Cottonseed oil

Cottonseed oil cake prices on Monday fell by Rs 13 to Rs 2,040 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 December fell by Rs 13, or 0.63 per cent, to Rs 2,040 per quintal with an open interest of 18,950 lots.

Cottonseed oil cake for delivery in January went down by Rs 21, or 1.02 per cent, to Rs 2,038 per quintal in 58,300 lots.

Mustard

Mustard seed prices on Monday rose by Rs 27 to Rs 4,488 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 December rose Rs 27, or 0.61 per cent, to Rs 4,488 per quintal with an open interest of 3,930 lots.

Similarly, the delivery for January gained Rs 38, or 0.85 per cent, to Rs 4,512 per quintal with an open interest of 17,340 lots.

Soya oil
Soya oil prices on Monday rose 0.12 per cent to Rs 865.6 per 10 kg in futures trade as speculators created fresh positions.

On the National Commodity and Derivatives Exchange, refined soya oil contracts for December delivery went up by Re 1, or 0.12 per cent, to Rs 865.6 per 10 kg with an open interest of 9,440 lots.

Analysts said fresh positions built up by traders against restricted arrivals from growing regions mainly led to rise in refined soya oil prices.

Soybean
Soybean prices on Monday rose by Rs 14 to Rs 4,222 per quintal in futures market as traders created fresh positions supported by a strong spot demand.

On the National Commodity and Derivatives Exchange, soybean for delivery in January was up by Rs 14, or 0.33 per cent, to Rs 4,222 per quintal with an open interest of 1,82,935 lots.

Soybean for delivery in February rose by Rs 16, or 0.38 per cent, to Rs 4,252 per quintal having an open interest of 1,15,790 lots.

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

Also Read

Lower acreage lifts coriander

Agri Commodities: Soybean, coriander rise in futures trade amid strong demand

Jeera, coriander production may rise on good rains

Agri Commodities: Coriander, cottonseed, mustard ease in futures amid low demand

Agri Commodities: Coriander, cottonseed, mustard fall in futures trade amid low demand

Comments
Add Your Comments
Commenting feature is disabled in your country/region.

Other useful Links


Copyright © 2020 Bennett, Coleman & Co. Ltd. All rights reserved. For reprint rights: Times Syndication Service