The Hindu Business Line : Guarseed futures down on NCDEX

Mumbai, Aug. 27 Quality issues over guar gum exports coupled with heavy rain in Haryana pulled futures prices on NCDEX down two per cent to Rs 1,766 per quintal. India, which accounts for about 85 per cent of global guarseed supply, may have to now prove that water was not the source for contamination.

Chana futures lost 2.41 per cent due to lack of demand in the sport market even after the start of festival season. Mentha oil for August delivery gave in by 1.68 per cent to Rs 516 per kg.

Soyabean and soya oil futures lost 1.44 per cent to 1,510 per quintal and 0.67 per cent to Rs 477 per 10 kg. Apart from higher production estimates, early kharif arrivals from Maharashtra and Karnataka are pulling down the prices. “In fact, arrivals, albeit in small quantities, have started in Maharashtra,” said a dealer.

Maize drops

Maize was marked down 2.39 per cent to Rs 716 per quintal on higher kharif production estimates. Arrivals are expected by October. Cardamom for September delivery dipped 1.06 per cent to Rs 514 per quintal.

Weak international markets pulled pepper down by 2.18 per cent to Rs 11,944 per quintal. From the peak of Rs 13,755 on August 13, pepper futures to the day’s low Rs 11,785, losing almost Rs 2,000.

Higher carryforward stock pressurised jeera futures, which lost 2.32 per cent to Rs 10,422 per quintal. However, spot prices in Unjha markets were higher at Rs 12,200-Rs 12,400 per quintal.

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