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Agri Commodities: Coriander, guar gum fall in futures trade amid low demand

Agri Commodities: Coriander, guar gum fall in futures trade amid low demand

Coriander prices on Tuesday fell by Rs 161 to Rs 5,880 per quintal in futures trade as speculators trimmed their positions tracking weak demand at the spot market.

On the National Commodity and Derivatives Exchange, coriander contracts for April eased by Rs 161, or 2.67 per cent, to Rs 5,880 per quintal in 7,100 lots.

Similarly, the spice for May delivery traded lower by Rs 210, or 3.44 per cent, to Rs 5,900 per quintal in 1,210 lots.

Market analysts said subdued demand in spot market mainly led to decline in coriander prices here.

Guar gum

Guar gum prices on Tuesday eased by Rs 2 to Rs 6,366 per five quintal in futures market as traders trimmed their holdings in line with weak trend at the spot market.

Marketmen said trimming of positions by participants amid weak demand mainly dragged down guar gum prices here.

On the National Commodity and Derivatives Exchange, guar gum for March delivery slipped by Rs 2, or 0.04 per cent, to Rs 6,366 per five quintal in 45,685 lots.

Guar gum for April delivery eased by Rs 16, or 0.25 per cent, to Rs 6,431 per five quintal in 16,075 lots.

Cottonseed oil

Cottonseed oil cake prices on Tuesday traded up by Rs 21 to Rs 1,631 per quintal in futures trade as speculators created fresh positions driven by firm spot demand.

On the National Commodity and Derivatives Exchange, cottonseed oil cake for delivery in March traded higher by Rs 21, or 1.30 per cent, to Rs 1,631 per quintal with an open interest of 89,630 lots.

Likewise for delivery in April cottonseed oil cake traded higher by Rs 20, or 1.22 per cent, to Rs 1,654 per quintal with an open interest of 28,290 lots.

Marketmen said raising 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 Tuesday rose by Rs 26 to Rs 3,720 per 10 quintal in futures trade after speculators increased their positions driven by a firm trend at spot market.

On the National Commodity and Derivatives Exchange, guar seed for March contracts rose by Rs 26, or 0.70 per cent, to Rs 3,720 per 10 quintal with an open interest of 62,010 lots.

Similarly, guar seed for April delivery gained Rs 26, or 0.70 per cent, to Rs 3,750 per 10 quintal with an open interest of 21,535 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 rise in guar seed prices here.

Mustard

Mustard seed prices on Tuesday rose by Rs 11 to Rs 4,038 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 in the spot market mainly lifted mustard seed prices here.

On the National Commodity and Derivatives Exchange, mustard seed for delivery in April rose by Rs 11, or 0.27 per cent, to Rs 4,038 per quintal with an open interest of 16,870 lots.

Similarly, the delivery for May gained Rs 19, or 0.47 per cent, to Rs 4,066 per quintal with an open interest of 4,390 lots.

Soya oil

Refined soya oil prices on Tuesday rose 0.05 per cent to Rs 803 per 10 kg in futures trade as speculators raised their bets.

On the National Commodity and Derivatives Exchange, refined soya oil for March delivery moved up by 40 paise, or 0.05 per cent, to Rs 803 per 10 kg in 43,605 lots.

Similarly, refined soya oil for April delivery edged up by 60 paise, or 0.07 per cent, to Rs 806.2 per 10 kg in 16,920 lots.

Analysts said widening of positions by traders mainly helped refined soya oil prices to trade higher in futures market here.

Soybean


Soybean prices on Tuesday rose by Rs 2 to Rs 3,862 per quintal in futures market as traders created fresh positions in line with spot demand.

On the National Commodity and Derivatives Exchange, soybean for March delivery rose by Rs 2, or 0.05 per cent, to Rs 3,862 per quintal with an open interest of 1,27,310 lots.

Soybean for April delivery gained Rs 6, or 0.16 per cent, to Rs 3,844 per quintal with an open interest of 1,07,395 lots.

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

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