Steady Spot Prices for Guar Seed and Gum; Futures Decline Amid Slow Demand

Mumbai, March 04 (Commodities Control): Guar seed and gum prices maintained stability in the physical market, while futures concluded lower on Monday due to sluggish demand, according to market reports.

In auctions, the average price range for guar seed was quoted at Rs 4700-5000 per quintal, with arrivals totaling around 14,000 bags. In the benchmark market of Jodhpur, guar seed prices were reported at Rs 5270 per quintal, while guar gum prices stood at Rs 10,450 per quintal.

However, in futures trading on the NCDEX, guar gum futures for March delivery ended Rs 67 or 0.65% lower at Rs 10,190 per quintal. The session saw a low of Rs 10,178 and a high of Rs 10,328.

Similarly, guar seed futures for March delivery settled Rs 15 or 0.28% down at Rs 5,262 per quintal on the NCDEX. The session's range for guar seed futures was between Rs 5,242 and Rs 5,317.

Market sources attribute the steady spot prices to consistent physical market conditions, while the decline in futures reflects the impact of slow demand.

GuarSeed contract for MAR delivery settled at Rs 5262/quintal showing an fall of Rs -15 over previous close of Rs 5277/quintal,The contract moved in the range of Rs 5242-5317 for the day. Open interest decreased by -11770 MT to 38640 MT, while trading volume increased by 11515 to 23510 MT.

GuarSeed contract for APR delivery settled at Rs 5325/quintal showing an fall of Rs -6 over previous close of Rs 5331/quintal,The contract moved in the range of Rs 5297-5371 for the day. Open interest increased by 12250 MT to 50435 MT, while trading volume increased by 13925 to 27340 MT.

Currently The spread between MAR and APR contract is -63 Rs/quintal.

GUARSEED stock in NCDEX accredited warehouse as on 04-Mar-2024, was 35606 MT



GuarGum contract for MAR delivery settled at Rs 10190/quintal showing an fall of Rs -67 over previous close of Rs 10257/quintal,The contract moved in the range of Rs 10178-10328 for the day. Open interest decreased by -1845 MT to 23105 MT, while trading volume decreased by -285 to 3860 MT.

GuarGum contract for APR delivery settled at Rs 10300/quintal showing an fall of Rs -62 over previous close of Rs 10362/quintal,The contract moved in the range of Rs 10290-10478 for the day. Open interest increased by 2210 MT to 31260 MT, while trading volume increased by 265 to 5255 MT.

Currently The spread between MAR and APR contract is -110 Rs/quintal

GuarGum stock in NCDEX accredited warehouse as on 04-Mar-2024, was 28267 MT


(By Commoditiescontrol Bureau: +91 9820130172)