Financial Daily from THE HINDU group of publications
Monday, Oct 25, 2004
Financial Daily from THE HINDU group of publications Monday, Oct 25, 2004 |
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Agri-Biz & Commodities
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Commodities Guar seeds clock 67 pc returns in H1 Our Bureau
Mumbai , Oct. 23 GUAR seed clocked a whopping 67 per cent return in past 6 months (April-September 2004), which translates into an effect annual return of over 178 per cent, according to Commodity Canvas, a monthly newsletter released by Karvy Commodities Broking Ltd. Guar seed is one of the commodities popularly traded in the commodities exchanges. Guar seed futures were introduced in National Commodity and Derivatives Exchange (NCDEX) in April 2004. During the past six months, guar seed futures prices at NCDEX rose sharply to Rs 1,877 per quintal in September from Rs 1,119 per quintal in April 2004, up by 68 per cent. The open interest in April was 28.5 quintals and it has grown to about 90 quintals in September, according to newsletter. Gross area under guar seed cultivation is estimated at 20 lakh hectares for the season 2003-04. All India production is estimated at 8.57 lakh tonnes. Rajasthan clocks about 70 per cent of the total crop. State production is expected around 6 lakh tonnes.
More Stories on : Commodities | Seeds
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