Guarseed looks strong

COMMODITY SPIKES

Demand from the mills and export market can take the guarseed prices up in the next week. Though the guarseed futures and spot markets saw declining trend during the last week, Rajasthan-based traders and commodity analysts say that the market will gain soon.

Last week saw near-month futures slipping to Rs 1,942 from Rs 1,986 a quintal. Similarly, rates in the physical market dropped to Rs 1,850 a quintal.

"The last two days have seen some support in the market on the back of demand coming in from mills. Next week, guarseed is expected to climb up Rs 40 a quintal in the spot market," said a Jodhpur-based trader. An analyst with agriwatch commodity said, "Near-month futures and spots will firm up by Rs 40-60 a quintal."

According to him, demand from export market is likely to come and the domestic guarseed, being of better quality than that of Pakistan, could fetch good rates.

The arrival rates across the country is in the range of 15,000-17,000 bags (each of 100 kg).