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Agri Commodities: Guar seed, guar gum futures fall on rising stockpiles

Soybean for delivery in August contracts also jumped by Rs 20 to Rs 3,734 per quintal.

PTI|
Updated: Jun 14, 2019, 03.28 PM IST
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Marketmen said soaring stocks against muted demand from guar gum makers mainly led to the fall in guar gum futures.
New Delhi: Guar seed prices fell by Rs 11 to Rs 4,255 per 10 quintal in futures trade Friday amid off-loading of exposure by investors in sync with a weak trend at the physical markets.

On the National Commodity and Derivatives Exchange, guar seed for delivery in July contracts moved down by Rs 11, or 0.26 per cent, to Rs 4,255 per 10 quintal persisting an open interest of 116,680 lots.

Similarly, the rates for August contracts moved down by Rs 10.5, or 0.24 per cent, to Rs 4,318 per 10 quintal open interest stood at 25,270 lots.

Marketmen said cutting down of positions by participants amid soaring stocks against muted demand from guar gum makers led to the fall in prices.

Guar gum

Guar gum prices plummeted by Rs 26 to Rs 8,607 per 5 quintal in futures trade Friday amid offloading of exposure by investors in sync with a weak trend in physical markets.

On the National Commodity and Derivatives Exchange, guar gum contracts for July delivery moved down by Rs 26, or 0.03 per cent, to Rs 8,607 per 5 quintal with an open interest of 58,565 lots.

Similarly, guar gum contracts for August moved down by Rs 22, or 0.25 per cent, to Rs 8,740 per 5 quintal with an open interest of 4,665 lots.

Marketmen said soaring stocks against muted demand from guar gum makers mainly led to the fall in guar gum futures.

Soya oil futures

Refined soya oil prices up by 0.2 per cent to Rs 738.3 per 10 kg in futures trade Friday as participants built up fresh positions amid pick-up in domestic demand at the spot market and restricted supplies from producing regions.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in July contracts rose by Rs 1.45, or 0.2 per cent, to Rs 738.3 per 10 kg with an open interest of 51,520 lots.

Similarly, the oil for delivery in August contracts traded higher by 0.95 paisa, or 0.13 per cent, at Rs 724.5 per 10 kg in 16,820 lots.

Analysts said fresh positions created by traders following pick-up in demand against restricted supplies from growing regions led to an upward trend in refined soya oil prices.

Soybean

Soybean prices rose by Rs 18 to Rs 3,712 per quintal in futures trade Friday as speculators enlarged their positions supported by a strong spot demand.

Tight arrivals from the producing regions further influenced the prices.

On the National Commodity and Derivatives Exchange, soybean for the most-traded delivery in July was up by Rs 18, or 0.49 per cent, to Rs 3,712 per quintal.

Soybean for delivery in August contracts also jumped by Rs 20, or 0.54 per cent, to Rs 3,734 per quintal.

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

Coriander

Coriander prices rose by 0.11 per cent to Rs 7,021 per quintal in futures trade Friday as participants built up fresh positions amid rising spot demand.

Besides, tight stocks on account of restricted arrivals from major growing regions weighed on coriander prices.

On the National Commodity and Derivatives Exchange, coriander for June edged higher by Rs 8, or 0.11 per cent, to Rs 7,021 per quintal with an open interest of 29,720 lots.

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

Mustard seed

Mustard seed prices rose 0.23 per cent to Rs 3,939 per quintal in futures trade Friday after participants widened their holdings, tracking a firm trend at the spot market.

Marketmen said strong demand from oil millers mainly pushed up the prices.

On the National Commodity and Derivatives Exchange, mustard seed contracts for May rose by Rs 9, or 0.23 per cent, to Rs 3,939 per quintal with an open interest of 9,990 lots.

Mustard seed for June delivery also advanced by Rs 3, or 0.08 per cent, to Rs 3,938 per quintal in 1,05,630 lots.

Cottonseed oil cake

Cottonseed oil cake prices rose by Rs 12.5 to Rs 2,872 per quintal in futures trade Friday after tracking positive trend in the domestic market.

On the National Commodity and Derivatives Exchange, cottonseed oil cake for July delivery rose by Rs 12.5, or 0.43 per cent, to Rs 2,872 per quintal with an open interest of 17,440 lots.

Cotton seed oil cake for August also rose by Rs 10, or 0.35 per cent, to Rs 2,875 per quintal in a business turnover of 5,440 lots.

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