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Agri Commodities: Mustard, soya oil, guar seed trade up in futures amid strong demand

Refined soya oil prices on Friday rose 0.93 per cent to Rs 848 per 10 kg in futures trade.

PTI|
Dec 06, 2019, 02.04 PM IST
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Mustard
Mustard seed prices on Friday rose by Rs 2 to Rs 4,390 per quintal in futures trade.
Mustard seed prices on Friday rose by Rs 2 to Rs 4,390 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 at spot market mainly lifted mustard seed prices here.

On the National Commodity and Derivatives Exchange, mustard seed for delivery in December rose Rs 2, or 0.05 per cent, to Rs 4,390 per quintal with an open interest of 18,660 lots.

Similarly, the delivery for January gained Rs 3, or 0.07 per cent, to Rs 4,429 per quintal with an open interest of 9,990 lots.

Soya oil
Refined soya oil prices on Friday rose 0.93 per cent to Rs 848 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 7.8, or 0.93 per cent, to Rs 848 per 10 kg with an open interest of 18,635 lots.

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

Guar seed
Guar seed prices on Friday rose by Rs 8 to Rs 4,052 per 10 quintal in futures trade after participants widened their holdings driven by a firm trend in spot market.

On the National Commodity and Derivatives Exchange, guar seed for December contracts rose by Rs 8, or 0.2, to Rs 4,052 per 10 quintal with an open interest of 26,300 lots.

Similarly, guar seed for January delivery gained Rs 12, or 0.29 per cent, to Rs 4,096 per 10 quintal with an open interest lots of 68,610.

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

Cottonseed oil

Cottonseed oil cake prices on Friday were trading up by Rs 17 to Rs 1,942 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 17, or 0.88 per cent, at Rs 1,942 per quintal in an open interest of 30,410 lots.

Likewise for delivery in January, cottonseed oil cake was trading higher by Rs 16, or 0.82 per cent, at Rs 1,966 per quintal in an open interest of lots of 53,090.

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

Coriander

Coriander prices on Friday fell by Rs 19 to Rs 6,771 per quintal in futures trade as speculators reduced their positions amid weak demand at spot market.

On the Multi Commodity Exchange, coriander contracts for December fell by Rs 19, or 0.28 per cent, to Rs 6,771 per quintal in 6,370 lots.

Similarly, coriander contracts for January delivery declined by Rs 15, or 0.23 per cent, to Rs 6,600 per quintal in 6,170 lots.

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

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