Cottonseed, chana rise on upbeat demand

Guar gum prices rose by Rs 59 to Rs 8,920 per quintal in futures trade Thursday amid upbeat exports demand at the physical markets.

At the National Commodity and Derivatives Exchange, guar gum for delivery in January next year was trading lower by Rs 59, or 0.67 per cent, to Rs 8,920 per quintal showing an open interest of 64,390 lots.

The most-active delivery in December, too, was up by Rs 11, or 0.12 per cent, to Rs 9,028 per quintal mirroring an open interest of 1,090 lots.

Cottonseed: Cottonseed oil cake prices rose by Rs 18 to Rs 1,883 per quintal in the futures trade Thursday after tracking a positive trend at the physical markets due to good demand.

At the National Commodity and Derivatives Exchange, cottonseed oil cake to be delivered in January next year came down by Rs 18, or 0.99 per cent, to Rs 1,883 per quintal with an open interest of 3,760 lots.

Cottonseed oil cake for delivery in February was up by Rs 18, or 0.87 per to Rs 1,908 per quintal.

Coriander: Coriander prices fell 1.69 per cent to Rs 6,575 per quintal in futures market Thursday as participants
cut down positions amid muted domestic as well as exports demand against ample stocks position.

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

At the National Commodity and Derivatives Exchange, coriander prices for delivery in January declined by Rs 113, or 1.69 per cent, to Rs 6,575 per quintal with an open interest of 21,910 lots.

On similar lines, rates for February, next year, was trading at Rs 6,758, down by 1.89 per cent, or Rs 130. The open interest of the contract stood at 6,460 lots.

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

Chana: Chana prices went up by 0.24 per cent to Rs 4,611 per quintal in futures trade Wednesday after participants created speculative positions, driven by rising demand at the spot market.

At the National Commodity and Derivatives Exchange, Chana for January next year moved up by Rs 11, or 0.24 per cent, to trade at Rs 4,611 per quintal with an open interest of 26,830 lots.

On similar lines, the commodity for far-month March was up by Rs 17, or 0.37 per cent, at Rs 4,630 per quintal in 8,350 lots.

Analysts said, widening of positions by traders following pick-up in demand against restricted supplies mainly led to rise in the prices.

Castor: Castor seed prices weakened by Rs 90 to Rs 5,452 per quintal in futures trade Thursday after participants liquidated their bets, tracking a weak trend at the physical markets.

Marketmen attributed the fall in castor seed prices in futures trade to cutting down of bets by participants amid mounting stocks on consistent supplies from growing belts.

At the National Commodity and Derivatives Exchange, castor seed to be delivered this month declined by Rs 90 or 1.62 per cent to Rs 5,452 per quintal, clocking an open interest of 27,275 lots.

Also, the most-traded delivery in January eased by Rs 78 or 1.39 per cent to Rs 5,534 per quintal, having a business turnover of 1,37,740 lots.

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