Jodhpur, February 19 (Commoditiescontrol): Guar seed and gum prices exhibited a mixed trend today, with spot prices firming up slightly, while futures experienced a downward trend. Market participants noted that the current month guar gum future contract bucked the overall trend by settling higher.
Traders observed that the guar market is currently influenced by the movements in futures, which, in turn, are heavily influenced by speculators. This interplay has introduced an element of uncertainty in the market trends. However, the fundamentals of the market suggest limited scope for a bearish trend, attributed to a comparatively smaller crop size in the previous season.
According to reliable market sources, the average price range for guar seed in recent auctions was reported to be between Rs 4700-5050 per quintal. Today's guar seed arrivals totaled around 13,000 bags.
In today's trading session, guar seed prices experienced an increase of Rs 50 per quintal, while gum prices saw a gain of Rs 100 per quintal. Consequently, the overall paid rates for guar seed were quoted at Rs 5350 per quintal. In the benchmark market of Jodhpur, guar gum prices settled at Rs 10,600 per quintal.
On the futures front, guar gum futures for delivery in February ended Rs 93 or 0.90% higher at Rs 10,380 per quintal on the NCDEX. The session's low and high were recorded at Rs 10,352 and Rs 10,450, respectively. In contrast, guar gum futures for March delivery closed Rs 45 or 0.43% lower at Rs 10,352 per quintal on the NCDEX, with the session's range between Rs 10,350 and Rs 10,462.
Similarly, guar seed futures for February delivery settled Rs 4 or 0.08% lower at Rs 5,300 per quintal on the NCDEX, with the session's low and high at Rs 5,300 and Rs 5,344, respectively. Guar seed futures for March delivery closed Rs 14 or 0.26% down at Rs 5,351 per quintal on the NCDEX, having fluctuated between Rs 5,343 and Rs 5,396 during the session.
GuarSeed contract for FEB delivery settled at Rs 5300/quintal showing an fall of Rs -4 over previous close of Rs 5304/quintal,The contract moved in the range of Rs 5300-5344 for the day. Open interest decreased by -1700 MT to 235 MT, while trading volume decreased by -350 to 25 MT.
GuarSeed contract for MAR delivery settled at Rs 5351/quintal showing an fall of Rs -14 over previous close of Rs 5365/quintal,The contract moved in the range of Rs 5343-5396 for the day. Open interest decreased by -2120 MT to 82240 MT, while trading volume decreased by -3630 to 11160 MT.
Currently The spread between FEB and MAR contract is -51 Rs/quintal.
GUARSEED stock in NCDEX accredited warehouse as on 19-Feb-2024, was 33436 MT
GuarGum contract for FEB delivery settled at Rs 10380/quintal showing an rise of Rs 93 over previous close of Rs 10287/quintal,The contract moved in the range of Rs 10352-10450 for the day. Open interest decreased by -170 MT to 460 MT, while trading volume decreased by -205 to 60 MT.
GuarGum contract for MAR delivery settled at Rs 10352/quintal showing an fall of Rs -45 over previous close of Rs 10397/quintal,The contract moved in the range of Rs 10350-10462 for the day. Open interest decreased by -905 MT to 47405 MT, while trading volume decreased by -4700 to 4270 MT.
Currently The spread between FEB and MAR contract is 28 Rs/quintal.
GuarGum stock in NCDEX accredited warehouse as on 19-Feb-2024, was 30290 MT
(By Commoditiescontrol Bureau: +91 9820130172)
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