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Dhimant Bhatt

Mumbai , May 7

Guarseed futures prices may firm up further this week on continued speculative buying support amid reduced supply at major centres.

"Some traders have shifted their trading interest from pulses to guarseed last week, after IMD's prediction of below normal monsoon. Stockists are now active," a local trader said.

Guarseed May contracts on NCDEX were up Rs 150 at Rs 2,149 a quintal on Saturday over last week on reduced supply amid steady buying. Guarseed June contracts were also up Rs 165 at Rs 2,252 a quintal on Saturday over last week.

Guarseed May contracts on MCX were up Rs 100 at Rs 2,025, while June contracts were also up Rs 140 to close at Rs 2,107 a quintal.

In the physical market, spot prices at Jodhpur market were up Rs 120 from previous weeks' rate of Rs 1,950-2,080 on reduced offerings by stockists.

"Prices may remain firm in short term," a trader said.

Jeera

Jeera futures prices could rule firm this week on expectation of sustained buying from exporters amid limited offerings by stockists.

Jeera May contracts on MCX were up Rs 195 at Rs 5,915 a quintal on Saturday over previous week mainly on continued buying support by exporters. June contracts were up Rs 260 at Rs 6,203 on steady export demand.

"Fresh buying from exporters was good early last week and may continue in the next few days as our quality is good over other origins," a Unjha based trader said.

Spot prices at Unjha market were up Rs 100 at Rs 5,980 over previous week on reports of reduced inflows coupled with continued local buying interest.

Daily inflows were around 6,000 bags at Unjha market and around 1,000-1,200 in the Saurashtra region.

Chana

Meanwhile, Kotak Commodities Ltd in in its outlook for pulses said chana prices were likely to rule firm as its fundamentals looked strong.

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