Stable Spot Guar Seed and Gum Prices; Firm Recovery in Futures

Jodhpur, February 20 (Commoditiescontrol): Guar seed and gum prices remained stable in the physical market, reflecting normal trading activities, while futures settled higher, recovering losses from the previous session.

According to market sources, the average price range for guar seed in auctions was quoted at Rs 4700-5050 per quintal, with arrivals of around 13,000 bags for the day. In the all-paid market, guar seed prices were reported at Rs 5350 per quintal. Meanwhile, guar gum prices stood at Rs 10,600 per quintal in the benchmark market of Jodhpur.

On the National Commodity and Derivatives Exchange (NCDEX), guar gum futures for delivery in March concluded Rs 242 or 2.33% higher at Rs 10,618 per quintal. The session's low and high were recorded at Rs 10,311 and Rs 10,678, respectively.

Similarly, guar seed futures for delivery in March settled Rs 101 or 1.88% higher at Rs 5,462 per quintal on the NCDEX. The low and high of the session were Rs 5,332 and Rs 5,338, respectively.

The stable spot prices in the physical market indicate a balanced demand-supply scenario, while the firm recovery in futures suggests renewed buying interest, contributing to the upward movement in prices.

GuarSeed contract for FEB delivery settled at Rs 5300/quintal showing an fall of Rs -30 over previous close of Rs 5330/quintal,The contract moved in the range of Rs 5290-5300 for the day. Open interest decreased by -210 MT to 25 MT, while trading volume increased by 185 to 210 MT.

GuarSeed contract for MAR delivery settled at Rs 5462/quintal showing an rise of Rs 101 over previous close of Rs 5361/quintal,The contract moved in the range of Rs 5332-5538 for the day. Open interest decreased by -3475 MT to 78765 MT, while trading volume increased by 6205 to 17365 MT.

Currently The spread between FEB and MAR contract is -162 Rs/quintal

GUARSEED stock in NCDEX accredited warehouse as on 20-Feb-2024, was 33527 MT




GuarGum contract for FEB delivery settled at Rs 10340/quintal showing an fall of Rs -43 over previous close of Rs 10383/quintal,The contract moved in the range of Rs 10290-10340 for the day. Open interest decreased by -160 MT to 300 MT, while trading volume increased by 155 to 215 MT.

GuarGum contract for MAR delivery settled at Rs 10618/quintal showing an rise of Rs 242 over previous close of Rs 10376/quintal,The contract moved in the range of Rs 10311-10678 for the day. Open interest decreased by -1240 MT to 46165 MT, while trading volume increased by 3070 to 7340 MT.

Currently The spread between FEB and MAR contract is -278 Rs/quintal.

GuarGum stock in NCDEX accredited warehouse as on 20-Feb-2024, was 30281 MT

(By Commoditiescontrol Bureau: +91 9820130172)