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Agri commodities: Mustard seed, guar seed, guar gum futures up on firm demand

Guar seed prices on Friday rose by Rs 2 to Rs 4,004 per 10 quintal in futures trade.

PTI|
Dec 13, 2019, 01.35 PM IST
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Agri Commodities: Guar seed, guar gum futures fall on rising stockpiles
Guar gum prices on Friday gained Rs 43 to Rs 7,192 per five quintal in futures trade as investors increased their holdings on spot demand.
New Delhi: Mustard seed prices on Friday rose by Rs 16 to Rs 4,462 per quintal in futures trade as speculators raised their bets amid limited supplies.

Marketmen said besides restricted arrivals from growing belts, demand from oil mills at spot market mainly lifted mustard seed prices here.

On the National Commodity and Derivatives Exchange, mustard seed for delivery in December rose by Rs 16, or 0.36 per cent, to Rs 4,462 per quintal with an open interest of 5,030 lots.

Similarly, the delivery for January gained Rs 11, or 0.25 per cent, to Rs 4,479 per quintal with an open interest of 15,290 lots.

Cottonseed oil cake
Cottonseed oil cake prices on Friday were trading up by Rs 9 to Rs 2,047 per quintal in futures trade after participants accumulated positions on spot demand.

On the National Commodity and Derivatives Exchange, cottonseed oil cake for delivery in December traded higher by Rs 9, or 0.44 per cent, at Rs 2,047 per quintal in an open interest of 19,830 lots.

Likewise for delivery in January, cottonseed oil cake was trading higher by Rs 16, or 0.78 per cent, at Rs 2,057 per quintal in an open interest of 53,340 lots.

Marketmen said creation of positions by participants amid a rising demand from cattle-feed makers mainly influenced cottonseed oil cake prices here.

Guar seed
Guar seed prices on Friday rose by Rs 2 to Rs 4,004 per 10 quintal in futures trade after participants widened their holdings driven by a firm trend at spot market.

On the National Commodity and Derivatives Exchange, guar seed for January contracts rose by Rs 2, or 0.05 per cent, to Rs 4,004 per 10 quintal with an open interest of 81,685 lots.

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

Guar gum
Guar gum prices on Friday gained Rs 43 to Rs 7,192 per five quintal in futures trade as investors increased their holdings on spot demand.

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

On the National Commodity and Derivatives Exchange, guar gum delivery for December contracts jumped Rs 43, to Rs 7,192 per five quintal with an open interest of 2,905 lots.

Likewise, the delivery of January contract surged by Rs 10, to Rs 7,260 per five quintal as open interest stood at 62,015 lots.

Soybean
Soybean prices on Friday rose by Rs 18 to Rs 4,248 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 December was up by Rs 18, or 0.43 per cent, to Rs 4,248 per quintal with an open interest of 17,805 lots.

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

Refined soya oil
Refined soya oil prices on Friday rose 0.88 per cent to Rs 869 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 Rs 7.60, or 0.88 per cent, to Rs 869 per 10 kg with an open interest of 12,650 lots.

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

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