Jodhpur, May 3 (Commoditiescontrol): Bearish trend in the guar market continued on Friday amid weak sentiment. Prices of guar seed and gum declined amid expectations of slow demand for guar gum in the overseas market as crude oil prices have witnessed considerable fall in the past few sessions.
As per the market sources, the average price range for guar seed in auctions were quoted at Rs 5000-5150 per quintal.
In all paid, guar seed prices were also quoted at Rs 5380 per quintal. Guar gum prices were quoted at Rs 10,900 per quintal in the benchmark market of Jodhpur. Arrivals were 6800 bags.
Guar gum futures for delivery in May ended Rs 93 or 0.86 % down at Rs 10,778 per quintal on the NCDEX while low and high of the session were Rs 10,734 and Rs 10,904 respectively.
Guar seed futures for delivery in May settled Rs 23 or 0.42 % down at Rs 5,407 per quintal on the NCDEX while low and high of the session were Rs 5,376 and Rs 5,445 respectively.
GuarSeed contract for MAY delivery settled at Rs 5407/quintal showing an fall of Rs -23 over previous close of Rs 5430/quintal,The contract moved in the range of Rs 5376-5445 for the day. Open interest decreased by -4375 MT to 37460 MT, while trading volume decreased by -2365 to 13065 MT.
GuarSeed contract for JUN delivery settled at Rs 5480/quintal showing an fall of Rs -29 over previous close of Rs 5509/quintal,The contract moved in the range of Rs 5454-5521 for the day. Open interest increased by 3125 MT to 33650 MT, while trading volume decreased by -365 to 13000 MT.
Currently The spread between MAY and JUN contract is -73 Rs/quintal.
GUARSEED stock in NCDEX accredited warehouse as on 03-May-2024, was 29311 MT
GuarGum contract for MAY delivery settled at Rs 10778/quintal showing an fall of Rs -93 over previous close of Rs 10871/quintal,The contract moved in the range of Rs 10734-10904 for the day. Open interest decreased by -2140 MT to 23325 MT, while trading volume decreased by -1615 to 5350 MT.
GuarGum contract for JUN delivery settled at Rs 10925/quintal showing an fall of Rs -90 over previous close of Rs 11015/quintal,The contract moved in the range of Rs 10870-11048 for the day. Open interest increased by 2275 MT to 28005 MT, while trading volume increased by 150 to 6830 MT.
Currently The spread between MAY and JUN contract is -147 Rs/quintal.
GuarGum stock in NCDEX accredited warehouse as on 03-May-2024, was 25191 MT
(By Commoditiescontrol Bureau: +91 9820130172)
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