Spot Guar Gum Gains Due To Positive Trend In Futures, Seed Moves In Both Side

NEW DELHI (Commodities control) Spot guar gum prices were noted in positive zone as future contracts managed to gain. However, Guar seed was traded with mixed trend in spot as well as in future market. Guar seed prices fell down in Bikaner and Sriganganagar. But the prices gained Rajkot and Adampur.

Spot traders in Rajasthan, Gujarat and Haryana were clueless about future trend. However, they was hopeful for upward trend due to rise in future market. Guar gum contracts prices gained about one percent in early trading session of NCDEX. But investors’ selling pressure caused for slight downfall but the prices were closed with gains of up to half percent. But there was no clear factor for price rise. Therefore, spot traders said that current prices are driven by future investors. Traders did not see any change in market dynamics. Guar gum prices gained Rs. 20 to Rs. 6030 per quintal in Jodhpur. Guar gum powder and korma also increased slightly.

Guar seed lost up to Rs. 25 per quintal in Bikaner and Sriganganagar in auction trading but the prices gained in Rajkot and Adampur. According to traders, local factors were driving prices. Quality and local demand were key factors for price determination. A trader from Jodhpur told that stockicts were selling their old stocks and trying to retain new seed. Therefore, the proportion of old was around 30-35 percent out of total arrival. Currently, guar seed arrival is hovering at around 15000-17000 bags in across the region.