Jodhpur, March 5 (Commoditiescontrol): Guar seed and gum prices experienced an upward trend in the physical market on Wednesday, driven by improved lower-level buying. However, futures closed the day with marginal fluctuations. Guar gum futures for the current month saw a slight increase, while guar seed futures maintained relative stability.
Market sources reported that the average price range for guar seed in auctions ranged from Rs 4700 to Rs 5000 per quintal. Today's guar seed arrivals totaled approximately 14,000 bags.
In the paid category, guar seed prices were quoted at Rs 5270 per quintal. Meanwhile, guar gum prices reached Rs 10,450 per quintal in the benchmark market of Jodhpur.
On the NCDEX, guar gum futures for March delivery concluded Rs 30 higher or 0.30% up, settling at Rs 10,008 per quintal. The session's trading range fluctuated between Rs 9,970 and Rs 10,045.
Conversely, guar seed futures for March delivery on the NCDEX settled Rs 2 lower or 0.04% down, reaching Rs 5,163 per quintal. The session's low and high points were recorded at Rs 5,146 and Rs 5,195, respectively.
The firming of spot prices, especially in guar seed, suggests a positive sentiment in the market, with traders responding to the improved buying activity.
GuarSeed contract for MAR delivery settled at Rs 5163/quintal showing an fall of Rs -2 over previous close of Rs 5165/quintal,The contract moved in the range of Rs 5146-5195 for the day. Open interest decreased by -3555 MT to 29620 MT, while trading volume decreased by -6970 to 8350 MT.
GuarSeed contract for APR delivery settled at Rs 5224/quintal showing an fall of Rs -2 over previous close of Rs 5226/quintal,The contract moved in the range of Rs 5208-5258 for the day. Open interest increased by 1985 MT to 54705 MT, while trading volume decreased by -11550 to 14535 MT.
Currently The spread between MAR and APR contract is -61 Rs/quintal.
GUARSEED stock in NCDEX accredited warehouse as on 06-Mar-2024, was 36046 MT
GuarGum contract for MAR delivery settled at Rs 10008/quintal showing an rise of Rs 30 over previous close of Rs 9978/quintal,The contract moved in the range of Rs 9970-10045 for the day. Open interest decreased by -2065 MT to 18370 MT, while trading volume decreased by -3415 to 3960 MT.
GuarGum contract for APR delivery settled at Rs 10125/quintal showing an rise of Rs 35 over previous close of Rs 10090/quintal,The contract moved in the range of Rs 10073-10164 for the day. Open interest increased by 1950 MT to 34950 MT, while trading volume decreased by -6410 to 4965 MT.
Currently The spread between MAR and APR contract is -117 Rs/quintal.
GuarGum stock in NCDEX accredited warehouse as on 06-Mar-2024, was 28428 MT
(By Commoditiescontrol Bureau: +91 9820130172)
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