Guar Seed and Gum Prices Dip on Profit-Booking

Jodhpur, April 29 (Commoditiescontrol): Guar seed and gum prices experienced a decline in both the spot market and futures trading on Monday, primarily due to profit-booking activities. Additionally, increased arrivals of guar seed in the spot market added pressure on prices. However, initial buying activities were observed.

Traders anticipate firm demand for guar gum in the coming month, which is expected to uphold positive sentiment. Stockists are showing interest in liquidating their stocks at higher rates.

Market sources report that the average price range for guar seed in auctions was quoted at Rs 5,100-5,300 per quintal. In all paid transactions, guar seed prices were quoted at Rs 5,500 per quintal. Meanwhile, guar gum prices stood at Rs 11,200 per quintal in the benchmark market of Jodhpur, with arrivals totaling 7,200 bags.

Guar gum futures for delivery in May concluded Rs 95 or 0.85% lower at Rs 11,111 per quintal on the NCDEX. The session's low and high were recorded at Rs 11,029 and Rs 11,110, respectively.

Guar seed futures for delivery in May settled Rs 38 or 0.68% down at Rs 5,543 per quintal on the NCDEX, with the session's low and high reported at Rs 5,524 and Rs 5,596, respectively.

GuarSeed contract for MAY delivery settled at Rs 5543/quintal showing an fall of Rs -38 over previous close of Rs 5581/quintal,The contract moved in the range of Rs 5524-5596 for the day. Open interest decreased by -6750 MT to 48555 MT, while trading volume decreased by -4050 to 12225 MT.

GuarSeed contract for JUN delivery settled at Rs 5623/quintal showing an fall of Rs -41 over previous close of Rs 5664/quintal,The contract moved in the range of Rs 5610-5680 for the day. Open interest increased by 5145 MT to 22730 MT, while trading volume increased by 100 to 7460 MT.

Currently The spread between MAY and JUN contract is -80 Rs/quintal.

GUARSEED stock in NCDEX accredited warehouse as on 29-Apr-2024, was 29823 MT

GuarGum contract for MAY delivery settled at Rs 11111/quintal showing an fall of Rs -95 over previous close of Rs 11206/quintal,The contract moved in the range of Rs 11029-11210 for the day. Open interest decreased by -4880 MT to 31285 MT, while trading volume decreased by -950 to 6825 MT.

GuarGum contract for JUN delivery settled at Rs 11256/quintal showing an fall of Rs -91 over previous close of Rs 11347/quintal,The contract moved in the range of Rs 11154-11350 for the day. Open interest increased by 5350 MT to 21670 MT, while trading volume increased by 350 to 5140 MT.

Currently The spread between MAY and JUN contract is -145 Rs/quintal.

GuarGum stock in NCDEX accredited warehouse as on 29-Apr-2024, was 25191 MT

(By Commoditiescontrol Bureau: +91 9820130172)