Commodities

Guar gum slips further, natural gas contracts down by 2.8%

Our Bureau Mangaluru | Updated on November 22, 2021

Rubber and cotton were up by 1.07 per cent

Natural gas prices dropped further on the Multi Commodity Exchange (MCX) and was down by 2.80 per cent, while guar gum prices declined further on the National Commodities and Derivatives exchange (NCDEX) at 1 pm today.

The December contracts of natural gas were being traded at ₹372 at 12.57 pm on Monday against the previous close of ₹382.70.

Guar gum futures, which opened sharply lower on the National Commodities and Derivatives Exchange (NCDEX), as crude oil prices slipped firmly below $80 a barrel during the weekend, declined further during afternoon.

On NCDEX, December futures slipped by 4.22 per cent. The contract was last quoted at ₹11328 a quintal after having slipped to ₹11,170 and previous close of ₹11,827.

Guar gum January contracts were quoted at ₹11,500, a decline of 4.12 per cent.

Guarseed December futures dropped by 2.5 per cent to ₹6,128 a quintal from the previous close of ₹6,285 and January contracts slid by 2.25 per cent to ₹6,213 from ₹6,356.

Guar gum and seed prices had run up during the last couple of months on erratic monsoon rains and rise in crude oil prices.

Guarseed December futures dropped by 2.5 per cent to ₹6,128 a quintal from the previous close of ₹6,285 and January contracts slid by 2.25 per cent to ₹6,213 from ₹6,356.

Guar gum and seed prices had run up during the last couple of months on erratic monsoon rains and rise in crude oil prices.

Rubber, cotton up

Rubber and cotton were up by 1.07 per cent and 0.72 by 12.58 pm. By 1 pm, the November contracts of rubber went up to ₹18501 as against the previous closing of ₹18305. The November cotton contracts were being traded at ₹32030 as against the previous closing of ₹31800.

MCX iCOMDEX Composite, which opened in the positive territory at 12,067.73 on dipped to a low of 12035.90 before gaining at 12056.48 by 1.05 pm.

MCX iCOMDEX Base Metal index was up by 0.18 per cent by 1.05 pm. After opening at 16634.66 in the morning, the index was at 16662.72 by 1.07 pm.

Published on November 22, 2021

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