Guar seed June-2008 contract settles at Rs.1,830

Ahmedabad, Jun 23 (UNI) Guar seed (10 MT) June-2008 futures contract traded on the National Multi-Commodity Exchange (NMCE) terminals to settle at Rs 1,830 per quintal.

The maturity or settlement price of the commodity is arrived at by averaging out its closing prices of the preceding three days, an NMCE release said here today.

Guar seed is traded in lots of 10 Metric Tonnes (MT) and prices quoted in rupees per quintal. The settlement price is arrived at by taking Jodhpur (Rajasthan) as the base.

The NMCE concurrently runs four series in guar seed for futures trading. The June-2008 was introduced last February and expired this weekend. As part of price discovery, it had touched a high of Rs.1946 and low of Rs.1,696 during the last month before settling at Rs.1,830.

The turmeric June-2008 futures contract, which also expired this weekend, settled at Rs.4,327 with Erode (Tamil Nadu) as the base.

Turmeric is also traded in lots 10 MT and prices quoted in rupees per quintal.

At present, NMCE runs futures contracts in over 90 series in 25 commodities, including pepper, sacking, castor seed, copra, coconut oil, rape/mustard oil, isabgol seed (psyllium) and base metals.

UNI MP OBB AG1525