Guarseed in choppy waters

COMMODITY SPIKES

They said that since the guarseed market depends on the rainfall pattern, it will take around two more weeks to ascertain the sowing trend. Last week, the September contract of guarseed on the National Commodities and derivatives Exchange traded between Rs 1,846 and Rs 1,935 a quintal.

However, reports suggest that in case of normal rains, a decline in the acreage is expected as farmers might shift to other remunerative crop such as cotton. Last season, the country produced around 75 lakh bags (each of 100 kg).