Markets

Agri Commodities: Guar gum, mustard seed, soya oil futures gain on upbeat demand

New Delhi: Guar seed prices rose by 1.39 per cent to Rs 4,240 per 10 quintals in futures trade Thursday as traders widened their bets on spot demand.

Marketmen said raising of bets by speculators, tracking a firm trend at the spot market on thin supplies from growing belts amid sturdy demand, led to the rise in prices.

On the National Commodity and Derivatives Exchange, guar seed contracts for June rose by Rs 58, or 1.39 per cent, to Rs 4,240 per 10 quintals with an open interest of 2,900 lots.

Similarly, guar seed contracts for July hardened by Rs 34.5, or 0.81 per cent, to Rs 4,271 per 10 quintals with an open interest of 1,18,430 lots.

Guar gum

Guar gum prices rose by Rs 145 to Rs 8,600 per five quintals in futures trade Thursday amid upbeat export demand at physical markets.

On the National Commodity and Derivatives Exchange, guar gum for delivery in June was trading higher by Rs 145, or 1.71 per cent, at Rs 8,600 per five quintal, showing an open interest of 1,445 lots.

Guar gum for July delivery also rose by Rs 59, or 0.69 per cent, to Rs 8,632 per five quintal, mirroring an open interest of 58,155 lots.

Coriander

Coriander prices fell by 0.01 per cent to Rs 7,055 per quintal in futures trade Thursday as participants cut positions amid muted domestic as well as exports' demand against ample stocks position.

Besides, rising arrivals from major producing belts and profit-booking at higher levels weighed on the sentiment.

On the National Commodity and Derivatives Exchange, coriander for July delivery declined by Re 1, or 0.01 per cent, to Rs 7,055 per quintal with an open interest of 29,850 lots.

Similarly, coriander contracts for August delivery traded down by Rs 55, or 0.77 per cent to Rs 7,126 per quintal with an open interest of 2,180 lots.

Analysts attributed the fall in coriander prices to subdued demand in the physical market against adequate stocks position on increased supplies from producing regions.

Mustard seed

Mustard seed prices rose 0.59 per cent to Rs 3,935 per quintal in futures trade Thursday as participants widened their holdings tracking a firm trend at the spot market.

On the National Commodity and Derivatives Exchange, mustard seed contracts for July rose by Rs 23, or 0.59 per cent, to Rs 3,935 per quintal with an open interest of 10,750 lots.

Mustard seed for August delivery also traded higher by Rs 18, or 0.46 per cent, at Rs 3,938 per quintal in 1,05,640 lots.

Marketmen said strong demand from oil millers mainly pushed up mustard seed prices here.

Refined soya oil

Refined soya oil prices rose 0.49 per cent to Rs 754.2 per 10 kg in futures trade Thursday as speculators raised their bets amid upsurge in demand at the spot market.

On the National Commodity and Derivatives Exchange, refined soya oil contracts for June delivery went up by Rs 3.65, or 0.49 per cent, to Rs 754.2 per 10 kg with an open interest of 14,430 lots.

Similarly, refined soya oil contracts for August delivery traded higher by Rs 3.4, or 0.47 per cent, at Rs 723 per 10 kg with an open interest of 15,720 lots.

Analysts said expansion of positions by traders on the back of pick-up in demand at physical markets against fall in supplies from growing belts led to the rise in soybean oil prices.

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