Commodity watch: Guar seed futures decline amid ample supplies
On National Commodity and Derivatives Exchange, guar seed contracts for Nov delivery fell Rs51 or 0.89 per cent to Rs5,737 per 10 quintals
Cottonseed oil cake for December delivery declined Rs18 or 0.62 per cent to Rs2,896 per quintal with an open interest of 44,270 lots. Analysts said a sell-off by participants at existing levels amid a subdued trend in the market mainly weighed on cotton seed oil cake prices
New Delhi: Guar seed prices on Tuesday declined Rs51 to Rs5,737 per 10 quintals in the futures trade amid an increase in supply from producing regions. On the National Commodity and Derivatives Exchange, guar seed contracts for November delivery fell Rs51 or 0.89 per cent to Rs5,737 per 10 quintals with an open interest of 48,720 lots. Marketmen attributed the downward trend in guar seed prices to increasing supplies from growing regions
Guar gum futures fall
Guar gum prices on Tuesday fell Rs120 to Rs11,575 per five quintals in the futures market as traders offloaded their holdings in line with a weak trend in the spot market. On the National Commodity and Derivatives Exchange, guar gum for November delivery declined Rs120 or 1.04 per cent to Rs11,575 per five quintals in 31,440 lots. Marketmen said slackness in demand in the spot market and ample supplies from growing regions put pressure on guar gum prices.
Cottonseed oil futures see fall decline
Cottonseed oil cake prices on Tuesday fell Rs18 to Rs2,896 per quintal in futures trade as participants reduced their bets following weak trends in spot markets. On the National Commodity and Derivatives Exchange, cottonseed oil cake for December delivery declined Rs18 or 0.62 per cent to Rs2,896 per quintal with an open interest of 44,270 lots. Analysts said a sell-off by participants at existing levels amid a subdued trend in the market mainly weighed on cottonseed oil cake prices.
Copper futures slip on muted demand
Copper futures on Tuesday fell 75 paise to Rs707.85 per kilogram as participants cut their positions amid a muted demand in the domestic market. On the Multi Commodity Exchange, copper contracts for November delivery eased by 75 paise or 0.11 per cent to Rs707.85 per kg in a business turnover of 6,890 lots. Analysts said trimming of positions by speculators amid a muted demand in the spot market mainly dragged down copper prices in the futures trade.
Zinc futures down on low demand
Zinc prices on Tuesday fell by 0.09 per cent to Rs221.20 per kilogram in the futures trade as speculators reduced their exposure, taking negative cues from the spot market. On the Multi Commodity Exchange, zinc contracts for November delivery traded lower by 20 paise or 0.09 per cent at Rs221.20 per kg in 3,705 lots. Analysts said offloading of positions by participants owing to slackened demand from consuming industries in the physical market mainly weighed on zinc prices.
