Agri-commodity: Refined soya oil, mustard seed, guar gum rise as demand picks up

Refined soybean plant oil costs edged up by 0.23 per cent to Rs 667.55 per ten metric weight unit in futures mercantilism these days as speculators created contemporary positions supported by devour in demand.

Besides, tight stocks position on fall in provides from manufacturing regions fuelled the uptrend.

At the National artefact and Derivatives Exchange, refined soybean plant oil for delivery in Oct rose Rs one.55, or 0.23 per cent, to Rs 667.55 per ten metric weight unit with associate open interest of 26,200 lots.

On similar lines, the oil for delivery in September edged up by 90 paise, or 0.14 per cent, to Rs 657.75 per ten metric weight unit in 48,710 lots.

Analysts same contemporary positions created by traders following upsurge in demand within the physical market against restricted arrivals from manufacturing regions, primarily light-emitting diode to the increase in refined soybean plant oil costs at futures trade.

Crude oil

Crude oil costs weakened by 0.06 per cent to Rs 509.40 per ten metric weight unit in forward market these days as traders reduced exposure amid subdued demand within the commodities market.

Besides, ample stocks position following higher provides from manufacturing belts fuelled the downtrend.

At the Multi commodities market, crude oil for delivery in August shed thirty paise, or 0.06 per cent, to Rs 509.40 per ten metric weight unit in an exceedingly business turnover of 55  heaps.

On similar lines, the oil for delivery in September was mercantilism lower by 20  paise, or 0.04 per cent, to Rs 511.30 per ten metric weight unit in fifty three heaps.

Analysts same offloading of positions by speculators attributable to slackened demand within the commodities market against ample stocks position primarily weighed on crude oil costs.

Mustard seed

Mustard seed costs were higher by Rs thirteen to Rs 3,800 per quintal in futures trade these days as traders raised their bets in tune with rising demand in spot markets.

According to marketmen, widening of holdings by speculators make a copy by robust demand within the spot markets, that influenced flavoring costs in futures trade.

At the National artefact and spinoff Exchange, flavoring costs rose by Rs 13 or 0.34 per cent to Rs 3,800 per quintal, with the business turnover of 57,120 open heaps.

Likewise, the delivery for the Oct contract rose by an analogous margin to trade at Rs 3,843 per quintal, open interest stood at 11,280 lots.

Guar gum

Guar gum costs soared by Rs 188 to Rs 8,365 per quintal in futures trade these days following widening of holdings by operators, owing to upbeat cues within the spot and overseas.

Market players same the increase in gum costs in futures trade was largely supported by a firm trend at the spot markets, sparked by sturdy spot and overseas demand amid halt in arrivals from manufacturing belts.

At the National artefact and Derivatives Exchange, gum for delivery in Oct increasing up by Rs 188, or 2.30 per cent, to Rs 8,365 per quintal, having associate open interest of 43,625 lots.

The delivery for the Gregorian calendar month too spurted by Rs 182, or 2.19 per cent, to Rs 8,485 per quintal, with associate open interest of four,075 lots.

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