home Latest News In just a week, BSE corners 36% share of guarseed futures trades – BusinessLine

In just a week, BSE corners 36% share of guarseed futures trades – BusinessLine

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Barely a few days after the launch of trading in the agri-commodity segment, the BSE has captured a 36 per cent market share in guarseed futures, the exchange said.

The BSE is competing with the National Stock Exchange-promoted NCDEX in the agri-commodities space.

It launched trading in guarseed and guar gum on February 7.

Guarseed futures on the BSE hit a record ₹73 crore on February 12. The total turnover of guarseed March futures contract in the three trading sessions since launch is ₹192 crore, with an open interest of 2,450 tonnes, the exchange said.

NCDEX had logged a turnover of ₹3,670 crore in guar gum contracts in December and ₹4,107 crore in January, and a turnover of ₹7,111 crore on guarseed contracts in December and ₹7,700 crore in January.

Prices of guar gum and guarseed — which are export-oriented commodities — are driven by global factors.

Guar gum prices are linked to crude oil prices as it is largely used in oilwell-drilling and other industries such as cloth and paper manufacture, explosives and ore flotation.

Guar gum is also used as a thickening and binding agent in the food, textile, paper, pharmaceutical and oil industry. Highly refined guar gum is used in the food industry as a stabiliser in ice creams, cheese, instant pudding, and whipped cream substitutes.