The Hindu Business Line : Guarseed futures gain on speculation

"Traders went long on guarseed as they expect Pakistan to export less due to a major crop failure this year. This could open new export opportunity for India," said Mr Harish Galipalli, head of research at Karvy Comtrade. India exported about 2.5 lakh tonnes of guargum last year.

Chilli on the spot market in Guntur gained about Rs 150 per tonne as arrivals shrunk to 10,000 bags against the normal 20,000 bags. Chilli stocks in the NCDEX warehouse are depleting fast and was pegged at 1492 tonnes against the normal of 6,000-7,000 tonnes. Chilli futures on NCDEX for the first time crossed the Rs 7,000 mark but closed at Rs 6,979 per tonne registering a gain 1.37 per cent. Turmeric on NCDEX gained 1.09 per cent at Rs 2,046 per tonne.

Potato down

Potato futures on MCX lost 1.71 per cent at Rs 430 per tonne. Traders were bearish on potato as they expect new arrivals from December-end and production is expected to be higher at 30 million tonnes against 25 million tonnes last year. Kapaskhali on MCX gained 1.10 per cent at Rs 303 per 50 kg.

Wheat futures for December delivery on NCDEX lost 1.14 per cent at Rs 1,043 per tonne. Delays in lifting the sugar export ban pulled down sugar futures prices for April delivery on MCX by around 4.01 per cent at Rs 1699 per tonne. Cardamom on MCX lost 1.7 per cent at Rs 347 per kg.

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