Guar Seed and Gum Prices Futures Surge; Spot Prices Remain Steady

Jodhpur, March 28 (Commoditiescontrol) - Guar seed and gum prices surged on Thursday fueled by short-covering activities in futures markets, although spot prices remained relatively unchanged. Buying momentum in the physical market remained steady, with arrivals showing minimal fluctuations.

According to market sources, the average price range for guar seed in auctions was quoted at Rs 4600-4850 per quintal, with approximately 8,000 bags arriving today. Meanwhile, in all paid transactions, guar seed prices stood at Rs 5030 per quintal. In the benchmark market of Jodhpur, guar gum prices were reported at Rs 10,000 per quintal.

On the NCDEX, guar gum futures for April delivery concluded Rs 234 higher, marking a 2.37% increase, settling at Rs 10,105 per quintal. The session witnessed a low of Rs 9,860 and a high of Rs 10,150.

Similarly, guar seed futures for April delivery recorded a gain of Rs 74 or 1.46%, closing at Rs 5,133 per quintal on the NCDEX. The session's low and high were Rs 5,050 and Rs 5,135, respectively.

The rally in futures prices suggests renewed bullish sentiment among traders, driven by short-covering activities. However, spot prices remained relatively stable, indicating a balanced market sentiment between futures and physical trading activities.

GuarSeed contract for APR delivery settled at Rs 5133/quintal showing an rise of Rs 74 over previous close of Rs 5059/quintal,The contract moved in the range of Rs 5050-5135 for the day. Open interest decreased by -3100 MT to 56485 MT, while trading volume increased by 2655 to 17770 MT.

GuarSeed contract for MAY delivery settled at Rs 5208/quintal showing an rise of Rs 75 over previous close of Rs 5133/quintal,The contract moved in the range of Rs 5130-5210 for the day. Open interest increased by 2745 MT to 26745 MT, while trading volume increased by 570 to 8820 MT.

Currently The spread between APR and MAY contract is -75 Rs/quintal.

GUARSEED stock in NCDEX accredited warehouse as on 28-Mar-2024, was 37304 MT




GuarGum contract for APR delivery settled at Rs 10105/quintal showing an rise of Rs 234 over previous close of Rs 9871/quintal,The contract moved in the range of Rs 9860-10150 for the day. Open interest decreased by -3270 MT to 28095 MT, while trading volume increased by 695 to 9200 MT.

GuarGum contract for MAY delivery settled at Rs 10228/quintal showing an rise of Rs 244 over previous close of Rs 9984/quintal,The contract moved in the range of Rs 9980-10238 for the day. Open interest increased by 3450 MT to 20310 MT, while trading volume increased by 1035 to 7505 MT.

Currently The spread between APR and MAY contract is -123 Rs/quintal.

GuarGum stock in NCDEX accredited warehouse as on 28-Mar-2024, was 26981 MT

(By Commoditiescontrol Bureau: +91 9820130172)