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Spot Guar Gum, Seed Remain Bearish As Futures Contracts Pared Early Gains

25 Jan 2021 8:41 pm
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NEW DELHI (Commodities control) Guar gum and seed contracts at NCDEX pared early gains as market sentiments turned to bearish. Spot trade also turned to weak as it followed futures market. The market was still uncertain regarding improvement in guar gum export demand.



Gaur complex relied on hope for export demand from crude oil sector but Biden administration’s actions indicated increasing risks of corona crisis. The US administration planned to put restrictions on those non US citizens for entry who have recently visited Africa. Another report suggested that corona vaccine may not be effective for new corona mutant. Crude oil remained in green zone in international market. But corona worries caused for uncertainty regarding gum export for crude oil sector.



Guar gum and seed contracts opened with gains in NCDEX. But selling pressure from investors dragged the contracts in negative zone. Therefore, guar gum and seed spot market in Rajasthan, Gujarat and Haryana turned to negative. Guar seed prices lost in majority of spot markets. Guar gum millers have reduced buying prices by Rs. 25 to Rs. 3850-3900 per quintal in Jodhpur. Guar seed (Loose) slipped Rs. 20 to Rs. 3750-3760 per quintal in Jodhpur mandi. However, gum and gum powder remained stable with bearish tone in Jodhpur. Guar seed fell down up to Rs. 50 per quintal in Rajkot and Sriganganagar during auctioned trading. There was no arrival and trade in Adampur of Haryana. However, seed prices gained Rs. 50 in Bikaner as few lots of higher quality seeds were traded higher.


Commodity

Type/Variety

25-Jan

23-Jan

Change

Jodhpur, Rajasthan

Guar Seed- Mill Gate

3850-3900

3850-3925

-25

Guar Seed- Loose

3750-3760

3750-3780

-20

Guar Gum Split

6200

6200

0

Guar Gum Powder

6000-7000 Viscosity (Drill Grade)

8300

8300

0

Guar Gum Powder

5000-6000 Viscosity (Food Grade)

7500

7500

0

Guar Korma

3975

3975

0

Guar Meal (Choori)

2750

2750

0

Jaipur, Rajasthan

Guar Seed- Mill Gate

3800-3850

3800-3900

-50

Guar Gum Split

6200

6200

0

Bikaner, Rajasthan

Guar Seed- Loose

3600-3870

3700-3825

45

Sriganganagar, Raj

Guar Seed-Loose

3501-3725

3551-3738

-13

Rajkot, Gujarat

Guar Seed- Loose

3600-3700

3600-3750

-50

Adampur, Haryana

Guar Seed-Loose

3600-3851

3600-3851

0

(By Commoditiescontrol Bureau: +91-22-40015505)


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