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24-Sep2013

Guar seed futures trade down on hopes of higher production

Guar seed futures traded down on MCX on expectations of higher production because of an expanded the area under cultivation and on conducive weather condition. However, Weak sowing prospects on current year along with strong export demand in local spot markets limited the further loss in Guar seed price.

The contract for October delivery was trading at Rs 6,216.00 /100 KG, down by 2.05% or Rs 130.00 from its previous closing of Rs 6,346.00 /100 KG. The open interest of the contract stood at 237 lots.

The contract for November delivery was trading at Rs 5,963.00 /100 KG, down by 2.88% or Rs 177.00 from its previous closing of Rs 6,140.00 /100 KG. The open interest of the contract stood at 181 lots on MCX.


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