Mumbai, 01 Apr 2024 (Commoditiescontrol): Guar seed and gum prices experienced a significant increase in the physical market on Monday, following positive trends in the futures market.
Trade sources reported that the average price range for guar seed in auctions was between Rs 4700-4900 per quintal, with approximately 9,000 bags arriving on the market. Guar seed prices in all paid condition traded at Rs 5100 per quintal.
Guar gum, a key derivative of guar seed, also saw an upward trend. In the benchmark market of Jodhpur, guar gum prices reached Rs 10,200 per quintal.
The rise in guar seed and gum prices suggests a positive outlook for the guar industry. Industry experts will be closely monitoring these trends in the coming days as they could signal further shifts in the market.
GuarSeed contract for APR delivery settled at Rs 5194/quintal showing an rise of Rs 72 over previous close of Rs 5122/quintal,The contract moved in the range of Rs 5146-5217 for the day. Open interest decreased by -2540 MT to 53945 MT, while trading volume decreased by -5425 to 12345 MT.
GuarSeed contract for MAY delivery settled at Rs 5263/quintal showing an rise of Rs 62 over previous close of Rs 5201/quintal,The contract moved in the range of Rs 5206-5287 for the day. Open interest increased by 2795 MT to 29540 MT, while trading volume increased by 965 to 9785 MT.
Currently The spread between APR and MAY contract is -69 Rs/quintal.
GUARSEED stock in NCDEX accredited warehouse as on 01-Apr-2024, was 37345 MT
GuarGum contract for APR delivery settled at Rs 10230/quintal showing an rise of Rs 158 over previous close of Rs 10072/quintal,The contract moved in the range of Rs 10130-10285 for the day. Open interest decreased by -1225 MT to 26870 MT, while trading volume decreased by -4240 to 4960 MT.
GuarGum contract for MAY delivery settled at Rs 10350/quintal showing an rise of Rs 157 over previous close of Rs 10193/quintal,The contract moved in the range of Rs 10230-10409 for the day. Open interest increased by 1700 MT to 22010 MT, while trading volume decreased by -2295 to 5210 MT.
Currently The spread between APR and MAY contract is -120 Rs/quintal
GuarGum stock in NCDEX accredited warehouse as on 01-Apr-2024, was 26991 MT
(By Commoditiescontrol Bureau: +91 9820130172)
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