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Spot Guar Complex Remains Bearish As It Follows Future’s Trend

1 Mar 2021 8:49 pm
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NEW DELHI (Commodities control) Spot Guar complex remained bearish in spot market of Rajasthan, Gujarat and Haryana as it followed future’s trend which was positive in morning session but turned to bearish due to selling pressure from investors. Guar seed trade was limited in spot mandis as there was no auction trade in Bikaner mandi.



Guar gum and seed traders were looking for export demand from the US but it was yet to pick up. Poor demand from exporters did not support guar gum and seed prices. The exporters were not keen for gum buying as they have enough stock of gum powder. Gum millers were reluctant to seed buying as they also have sufficient stocks. Therefore, even lower arrival was enough to dampen market sentiments. Total arrival reduced to below 15,000 bags in across the region. Lower arrival and smaller crop size were unable to support market sentiments.



In the absence of strong fundamentals, traders were following future’s trend. Investors were trading on speculations. Trade sources said that some big operators were driving future market so it became very speculative. The operators push up prices by constant buying in morning but they come up for selling by evening so the prices come down. Now it became regular trend in future market of NCDEX.


Commodity

Type/Variety

01-Mar

27-Feb

Change

Jodhpur, Rajasthan

Guar Seed- Mill Gate

3850-3850

3850-3870

-20

Guar Seed- Loose

3625-3700

3625-3700

0

Guar Gum Split

6070

6070

0

Guar Gum Powder

6000-7000 Viscosity (Drill Grade)

8170

8170

0

Guar Gum Powder

5000-6000 Viscosity (Food Grade)

7370

7370

0

Guar Korma

3850

3850

0

Guar Meal (Choori)

2700

2700

0

Jaipur, Rajasthan

Guar Seed- Mill Gate

3725-3760

3725-3780

-20

Guar Gum Split

6100

6100

0

Bikaner, Rajasthan

Guar Seed- Loose

3575-3675

3575-3675

0

Sriganganagar, Raj

Guar Seed-Loose

3425-3666

3425-3666

0

Rajkot, Gujarat

Guar Seed- Loose

3490-3550

3500-3550

-10

Adampur, Haryana

Guar Seed-Loose

3500-3691

3500-3691

0

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


       
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