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Agri Commodities: Guar seed, guar gum, coriander rise in futures trade amid strong demand

Guar seed prices on Monday rose Rs 101 to Rs 4,205 per 10 quintal in futures trade.

PTI|
Nov 04, 2019, 02.14 PM IST
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Agencies
Mustard
Mustard seed prices on Monday rose Rs 11 to Rs 4,283 per quintal in futures trade.
Guar seed prices on Monday rose Rs 101 to Rs 4,205 per 10 quintal in futures trade as participants built their positions driven by a firm trend in spot market.

On the National Commodity and Derivatives Exchange, guar seed contracts for November traded higher by Rs 101, or 2.46 per cent, to Rs 4,205 per 10 quintal with an open interest of 36,030 lots.

For December contracts, guar seed futures gained Rs 98.5, or 2.38 per cent, to Rs 4,235 per 10 quintal with an open interest of 70,650 lots.

According to marketmen, raising of bets by speculators tracking a firm trend in spot market amid thin supplies from growing belts mainly led to rise in prices here.

Guar gum
Guar gum prices on Monday rose Rs 232 to Rs 7,983 per five quintal in futures trade as investors increased their holdings on spot demand.

On the National Commodity and Derivatives Exchange, guar gum delivery for November contracts was up Rs 232, or 2.99 per cent, to Rs 7,983 per five quintal with an open interest of 14,640 lots.

Likewise, the delivery for December contract edged higher by Rs 235, or 2.99 per cent, to Rs 8,905 per five quintal as open interest stood at 52,300 lots.

Coriander
Coriander prices on Monday rose 3.32 per cent to Rs 7,158 per quintal in futures market as participants built up fresh positions amid rising spot demand.

Besides, tight stocks on account of restricted arrivals from major growing regions strengthened the prices.

On the National Commodity and Derivatives Exchange, coriander for November contracts edged higher by Rs 230, or 3.32 per cent, to Rs 7,158 per quintal, with an open interest of 13,220 lots.

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

On similar lines, the spice for delivery in December contracts was trading higher by Rs 146, or 2.14 per cent, to Rs 6,970 per quintal, with an open interest of 9,430 lots.

Mustard
Mustard seed prices on Monday rose Rs 11 to Rs 4,283 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 November rose Rs 11, or 0.26 per cent, to Rs 4,283 per quintal in an open interest of 31,480 lots.

Similarly, the delivery for December gained Rs 9, or 0.21 per cent, to Rs 4,290 per quintal with an open interest of 21,730.

Cottonseed oil
Cottonseed oil cake prices on Monday fell Rs 91.5 to Rs 2,386 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 91.5, or 3.99 per cent, to Rs 2,386 per quintal in 58,700 lots.

Soya oil
Refined soya oil prices on Monday rose 1.02 per cent to Rs 780.5 per 10 kg in futures trade as speculators raised their bets.

On the National Commodity and Derivatives Exchange, refined soya oil for delivery in November moved up by Rs 7.85, or 1.02 per cent, to Rs 780.5 per 10 kg in 23,850 lots.

Similarly, the oil for delivery in December contracts edged up by Rs 8.05, or 1.04 per cent, to Rs 784.4 per 10 kg in 23,850 lots.

Analysts said widening of positions by traders helped refined soya oil prices to trade higher in futures market here.

Soybean
Soybean prices on Monday traded higher by Rs 69 to Rs 4,008 per quintal in futures trade on fresh positions built up by speculators.

On the National Commodity and Derivatives Exchange, soybean contracts for January delivery gained Rs 69, or 1.75 per cent, to Rs 4,008 per quintal in 39,670 lots.

The delivery for February edged up by Rs 69, or 1.73 per cent, to Rs 4,058 per quintal in 9,330 lots.

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

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