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Castor Seed Futures On NCDEX Is Heading For First Weekly Gains

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During the current week, Guar futures expected to close higher for the third consecutive week followed by cardamom and castor seed while edible oil and oil seed prices have recovered in the current week on expectation of good physical demand as festival seasons are nearing. However, the prices of Turmeric and Mentha closed in negative on account of corrections from the higher levels due to lower demand while coriander prices have slipped further on higher supplies and steady demand.

The most active October delivery contract of Guar complex on National Commodities and Derivative Exchange (NCDEX), closed higher for third consecutive week on reports of good export demand for guar gum despite higher acreage reported in Rajasthan and Gujarat. Guar seed prices surged about 4.7% or Rs. 176 to close at Rs. 3,906 per quintal while guar gum gain 3.06% or Rs. 243 to close at at Rs. 8,185 per quintal.

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