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Agri Commodities: Mustard, coriander, soybean up in futures trade amid positive demand

Coriander prices up by Rs 17 to Rs 5,890 per quintal in futures trade on Tuesday.

PTI|
Oct 15, 2019, 02.44 PM IST
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Agencies
Mustard
Mustard seed prices rose by Rs 17 to Rs 4,114 per quintal in futures trade on Tuesday
Mustard seed prices rose by Rs 17 to Rs 4,114 per quintal in futures trade on Tuesday following raising of bets by participants amid tight supplies.

Demand from oil mills in spot market mainly lifted mustard seed prices in futures trade, analysts said.

On the National Commodity and Derivatives Exchange, mustard seed delivery for October rose by Rs 17, or 0.41 per cent, to Rs 4,114 per quintal in an open interest of 6,050 lots.

The delivery for November gained by Rs 13, or 0.31 per cent, to Rs 4,122 per quintal with an open interest of 45,390 lots.

Coriander

Coriander prices up by Rs 17 to Rs 5,890 per quintal in futures trade on Tuesday supported by a strong domestic demand amid restricted supplies from producing belts.

At the National Commodity and Derivative Exchange, coriander for delivery in October shot up by Rs 17, or 0.29 per cent, to Rs 5,890 per quintal with an open interest of 150 lots.

The spice for delivery in November traded higher by Rs 51, or 0.84 per cent, to Rs 6,010 per quintal in 16,380 lots.

Market analysts said apart from firm trend at the spot market restricted supplies from producing regions mainly pushed up coriander prices here.

Cottonseed oil
Cottonseed oil cake prices rose by Rs 11.5 to Rs 2,165 per quintal in futures trade on Tuesday as participants accumulated positions on spot demand.

At the National Commodity and Derivatives Exchange, cottonseed oil cake for December delivery traded higher by Rs 11.5, or 0.53 per cent, at Rs 2,165 per quintal with an open interest of 53,310 lots.

Similarly, cottonseed oil cake for January delivery was trading higher by Rs 17, or 0.81 per cent, at Rs 2,108 per quintal with an open interest of 19,270 lots.

Marketmen said raising of positions by participants amid rising demand from cattle feed makers mainly influenced prices here.

Guar gum
Guar gum prices soared by Rs 47 to Rs 7,321 per five quintal in futures trade on Tuesday as investors increased their holdings amid positive demand.

Marketmen said tracking firm physical market trend, traders opted to raise their bets which led to rise in guar gum prices.

At the National Commodity and Derivatives Exchange, guar gum delivery for the October jumped up by Rs 47, or 0.65 per cent, to Rs 7,321 per five quintal with an open interest of 180 lots.

Guar seed
Guar seed prices rose by Rs 6.5 to Rs 3,920 per 10 quintal in futures trade on Tuesday after participants widened their holdings, driven by a firm trend in the spot market.

On the National Commodity and Derivatives Exchange, guar seed for November contracts advanced by Rs 6.5, or 0.17, to Rs 3,920 per 1o quintal with an open interest of 75,220 lots.

Similarly, guar seed for December delivery gained by Rs 5.5, or 0.14 per cent, to Rs 3,967 per 10 quintal in an open interest of 7,020 lots.

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

Soybean
Soybean prices rose by Rs 10 to Rs 3,700 per quintal in futures trade on Tuesday as traders created fresh positions supported by a strong spot demand.

On the National Commodity and Derivatives Exchange, soybean for delivery in October was up by Rs 10, or 0.27 per cent, at Rs 3,700 per quintal in 9,560 lots.

Soybean for delivery in November rose by Rs 15, or 0.41 per cent, to Rs 3,643 per quintal in 79,690 lots.

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

Soya oil
Refined soya oil prices were up 15 paise to Rs 749.8 per 10 kg in futures trade on Tuesday as speculators raised their bets on spot demand.

At the National Commodity and Derivatives Exchange, refined soya oil for delivery in October month moved up by Rs 15 paise, or 0.02 per cent, to Rs 749.8 per ten kg with an open interest of 13,030 lots.

However, the oil for delivery in November contracts drifted lower by 35 paise, or 0.05 per cent, to Rs 749.4 per 10 kg in 26,380 lots.

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