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23-Jul2013

Guar Seed futures fall on better crop expectations

Guar Seed futures were trading lower on MCX due to higher area under cultivation in the top producing Rajasthan state, favorable weather and on higher carry-forward stocks. Further, the prices also declined on increased selling by speculators driven by a weak trend in physical marketers on sluggish demand.

The contract for October delivery was trading at Rs 4920.00 /100 KG, down by 0.51% or Rs 25.00 from its previous closing of Rs 4945.00 /100 KG. The open interest of the contract stood at 3195.00 lots.

The contract for November delivery was trading at Rs 4880.00 /100 KG, down by 0.67% or Rs 33.00 from its previous closing of Rs 4913.00 /100 KG. The open interest of the contract stood at 1609.00 lots on MCX.


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