Last Updated : September 09, 2010 12:10
Guar basket may get into negative zone
The Guar Seed and Guar Gum futures tumbled sharply on Wednesday on strong selling pressure.
Reports of active rainfall in key producing regions weighed on the market. There was speculative selling in the market on hopes of early harvesting of the crop. However, spot market remained steady with average demand.
Outlook
The guar seed and guar gum futures are projected to trade on a negative note during the day on speculative selling
Traders and investors are likely to sell futures anticipating early harvesting of the crop
Reports of active rainfall in major producing regions is likely to keep prices down
Production of guar seed in 201011 season is likely to be higher than last year
According to latest sowing data, guar seed sowing in Rajasthan has been done in an area of 28.43 lakh hectares as on 19th August against 25.81 lakh hectares in the same period last year
NCDEX warehouse stocks are at 19,830 tons of guar seed and 19,543 tons of guar gum as on 7th September 2010
Courtesy: Karvy Commtrade Ltd.
While others make you learn, we may you earn
MCX GOLDPETAL 31 March 2012
contract was trading at
Rs 2831 , up Rs. 14 . What's your view on it?
