Jodhpur, May 14 (CommoditiesControl): Guar seed and gum prices maintained stability in the spot market on Tuesday, while futures contracts closed slightly higher. Analysts attribute this to consistent demand for guar seed and gum, with dwindling stocks of guar seed expected to provide support to prices in the coming months.
In spot markets, the average price range for guar seed in auctions hovered around Rs 5000-5250 per quintal. Meanwhile, guar seed prices were reported at Rs 5450 per quintal in all paid transactions. Guar gum prices remained steady at Rs 10,850 per quintal in the benchmark market of Jodhpur, with arrivals totaling 6800 bags.
On the NCDEX, guar gum futures for delivery in May ended Rs 20 higher, or 0.19%, at Rs 10,600 per quintal. The session's low and high were recorded at Rs 10,570 and Rs 10,700, respectively.
Similarly, guar seed futures for delivery in May settled Rs 22 higher, or 0.40%, at Rs 5,460 per quintal on the NCDEX. The session saw a low of Rs 5,460 and a high of Rs 5,486.
The stability in spot prices coupled with the marginal increase in futures contracts suggests a balanced market sentiment, with demand holding steady and futures reflecting a cautious optimism regarding future price movements.
GuarSeed contract for MAY delivery settled at Rs 5460/quintal showing an rise of Rs 22 over previous close of Rs 5438/quintal,The contract moved in the range of Rs 5460-5486 for the day. Open interest decreased by -20 MT to 1125 MT, while trading volume decreased by -11860 to 155 MT.
GuarSeed contract for JUN delivery settled at Rs 5460/quintal showing an fall of Rs -28 over previous close of Rs 5488/quintal,The contract moved in the range of Rs 5460-5509 for the day. Open interest increased by 60 MT to 59965 MT, while trading volume decreased by -16625 to 7090 MT.
Currently The spread between MAY and JUN contract is 0 Rs/quintal.
GUARSEED stock in NCDEX accredited warehouse as on 14-May-2024, was 24640 MT
GuarGum contract for MAY delivery settled at Rs 10600/quintal showing an rise of Rs 20 over previous close of Rs 10580/quintal,The contract moved in the range of Rs 10570-10700 for the day. Open interest decreased by -665 MT to 890 MT, while trading volume decreased by -6895 to 275 MT
GuarGum contract for JUN delivery settled at Rs 10734/quintal showing an fall of Rs -24 over previous close of Rs 10758/quintal,The contract moved in the range of Rs 10734-10840 for the day. Open interest decreased by -90 MT to 47835 MT, while trading volume decreased by -8605 to 2680 MT.
Currently The spread between MAY and JUN contract is -134 Rs/quintal.
GuarGum stock in NCDEX accredited warehouse as on 14-May-2024, was 24096 MT
(By Commoditiescontrol Bureau: +91 9820130172)
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