Jodhpur, April 30 (Commoditiescontrol): Guar seed and gum prices continued to show downward trend in the physical market on Tuesday, reflecting weakness in futures trading. Reduced buying activities, compounded by month-end trends, contributed to the decline. However, market participants believe that further declines in prices are unlikely. Guar seed stocks are steadily decreasing, and overseas demand for guar gum is anticipated to remain robust in the coming days.
Traders anticipate firm demand for guar gum in the upcoming month, which is expected to bolster positive sentiment. Stockists are eager to offload their inventories at elevated rates.
In auction markets, the average price range for guar seed was quoted at Rs 5000-5250 per quintal, while in all paid markets, guar seed prices stood at Rs 5500 per quintal. In the benchmark market of Jodhpur, guar gum prices were reported at Rs 11,150 per quintal, with arrivals totaling 7200 bags.
On the NCDEX, guar gum futures for May delivery concluded Rs 103 or 0.93% lower at Rs 11,021 per quintal. The session's range spanned from Rs 11,000 to Rs 11,180.
Similarly, guar seed futures for May settlement settled Rs 40 or 0.72% lower at Rs 5,506 per quintal on the NCDEX. The session's low and high were recorded at Rs 5,505 and Rs 5,570, respectively.
GuarGum contract for MAY delivery settled at Rs 11021/quintal showing an fall of Rs -103 over previous close of Rs 11124/quintal,The contract moved in the range of Rs 11000-11180 for the day. Open interest decreased by -3010 MT to 28275 MT, while trading volume decreased by -165 to 6660 MT.
GuarGum contract for JUN delivery settled at Rs 11156/quintal showing an fall of Rs -113 over previous close of Rs 11269/quintal,The contract moved in the range of Rs 11150-11345 for the day. Open interest increased by 2505 MT to 24175 MT, while trading volume increased by 975 to 6115 MT.
Currently The spread between MAY and JUN contract is -135 Rs/quintal.
GuarGum stock in NCDEX accredited warehouse as on 30-Apr-2024, was 25042 MT
GuarSeed contract for MAY delivery settled at Rs 5506/quintal showing an fall of Rs -40 over previous close of Rs 5546/quintal,The contract moved in the range of Rs 5505-5570 for the day. Open interest decreased by -2310 MT to 46245 MT, while trading volume increased by 3700 to 15925 MT.
GuarSeed contract for JUN delivery settled at Rs 5587/quintal showing an fall of Rs -43 over previous close of Rs 5630/quintal,The contract moved in the range of Rs 5583-5653 for the day. Open interest increased by 3425 MT to 26155 MT, while trading volume increased by 1865 to 9325 MT.
Currently The spread between MAY and JUN contract is -81 Rs/quintal.
GUARSEED stock in NCDEX accredited warehouse as on 30-Apr-2024, was 29622 MT
(By Commoditiescontrol Bureau: +91 9820130172)
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