Jodhpur, February 12 (Commoditiescontrol): Guar seed and gum prices extended their downward trend in both physical markets and futures on Monday, primarily due to slow demand. Traders anticipate that guar seed and gum prices will remain under pressure in the near term as demand continues to be weak.
In the spot market, the average price range for guar seed in auctions was quoted at Rs 4,550-4,950 per quintal, with arrivals around 14,000 bags for the day.
Prices of guar seed fell by Rs 50 per quintal, and gum prices witnessed a decline of Rs 150 per quintal. In overall pricing, guar seed was quoted at Rs 5,150 per quintal, while guar gum prices stood at Rs 10,200 per quintal in the benchmark market of Jodhpur.
On the NCDEX, guar gum futures for delivery in February ended Rs 141 or 1.41% down at Rs 9,880 per quintal, with the session's low and high recorded at Rs 9,775 and Rs 10,008, respectively.
Similarly, guar gum futures for delivery in March concluded Rs 136 or 1.34% lower at Rs 10,034 per quintal on the NCDEX, with a session range of Rs 9,920 to Rs 10,161.
In the case of guar seed futures, the contract for delivery in February settled Rs 64 or 1.23% down at Rs 5,158 per quintal on the NCDEX, with the low and high recorded at Rs 5,125 and Rs 5,210, respectively.
The guar seed futures for delivery in March ended Rs 60 or 1.14% down at Rs 5,220 per quintal on the NCDEX, with the session's low and high ranging from Rs 5,182 to Rs 5,270.
GuarSeed contract for FEB delivery settled at Rs 5158/quintal showing an fall of Rs -64 over previous close of Rs 5222/quintal,The contract moved in the range of Rs 5125-5210 for the day. Open interest decreased by -7080 MT to 15070 MT, while trading volume decreased by -3645 to 11570 MT.
GuarSeed contract for MAR delivery settled at Rs 5220/quintal showing an fall of Rs -60 over previous close of Rs 5280/quintal,The contract moved in the range of Rs 5182-5270 for the day. Open interest increased by 4655 MT to 74330 MT, while trading volume increased by 1710 to 25715 MT.
Currently The spread between FEB and MAR contract is -62 Rs/quintal.
GUARSEED stock in NCDEX accredited warehouse as on 12-Feb-2024, was 33026 MT.
GuarGum contract for FEB delivery settled at Rs 9880/quintal showing an fall of Rs -141 over previous close of Rs 10021/quintal,The contract moved in the range of Rs 9775-10008 for the day. Open interest decreased by -4855 MT to 9480 MT, while trading volume increased by 2220 to 8540 MT.
GuarGum contract for MAR delivery settled at Rs 10034/quintal showing an fall of Rs -136 over previous close of Rs 10170/quintal,The contract moved in the range of Rs 9920-10161 for the day. Open interest increased by 3810 MT to 46770 MT, while trading volume increased by 5765 to 15550 MT.
Currently The spread between FEB and MAR contract is -154 Rs/quintal.
GuarGum stock in NCDEX accredited warehouse as on 12-Feb-2024, was 30693 MT
(By Commoditiescontrol Bureau: +91 9820130172)
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