Jodhpur, February 26 (Commoditiescontrol): Guar seed and gum prices witnessed further declines on Monday, influenced by a bearish demand environment and increased arrivals. The spot market continued to reflect a bearish trend, aligning with the weaker futures market.
According to market sources, the average price range for guar seed in auctions was quoted at Rs 4700-5050 per quintal, with arrivals reaching around 15,000 bags on the day.
Guar seed prices experienced a decline of Rs 30 per quintal, settling at Rs 5320 per quintal in all paid. Meanwhile, guar gum prices dropped nearly Rs 500 per quintal, recording Rs 10,450 per quintal in the benchmark market of Jodhpur.
In the futures market, guar gum futures for delivery in March ended Rs 121 or 1.6% down at Rs 10,273 per quintal on the NCDEX. The session witnessed a low of Rs 10,255 and a high of Rs 10,371.
Similarly, guar seed futures for delivery in March settled Rs 44 or 0.82% down at Rs 5,320 per quintal on the NCDEX, with the session's low and high recorded at Rs 5,315 and Rs 5,362, respectively.
The bearish sentiment in guar seed and gum prices is influenced by factors such as weak demand and increased arrivals, leading to a cautious market environment.
GuarSeed contract for MAR delivery settled at Rs 5320/quintal showing an fall of Rs -44 over previous close of Rs 5364/quintal,The contract moved in the range of Rs 5315-5362 for the day. Open interest decreased by -4670 MT to 64655 MT, while trading volume decreased by -3435 to 12180 MT.
GuarSeed contract for APR delivery settled at Rs 5376/quintal showing an fall of Rs -42 over previous close of Rs 5418/quintal,The contract moved in the range of Rs 5368-5409 for the day. Open interest increased by 4005 MT to 21635 MT, while trading volume increased by 1970 to 6045 MT.
Currently The spread between MAR and APR contract is -56 Rs/quintal.
GUARSEED stock in NCDEX accredited warehouse as on 26-Feb-2024, was 34421 MT
GuarGum contract for MAR delivery settled at Rs 10273/quintal showing an fall of Rs -121 over previous close of Rs 10394/quintal,The contract moved in the range of Rs 10255-10371 for the day. Open interest decreased by -3475 MT to 38000 MT, while trading volume increased by 730 to 6770 MT.
GuarGum contract for APR delivery settled at Rs 10411/quintal showing an fall of Rs -114 over previous close of Rs 10525/quintal,The contract moved in the range of Rs 10387-10488 for the day. Open interest increased by 3065 MT to 15470 MT, while trading volume increased by 755 to 4055 MT.
Currently The spread between MAR and APR contract is -138 Rs/quintal.
GuarGum stock in NCDEX accredited warehouse as on 26-Feb-2024, was 29673 MT
(By Commoditiescontrol Bureau: +91 9820130172)
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