Jodhpur, March 13 (Commoditiescontrol): In the spot market on Wednesday, both guar seed and gum prices remained unchanged, while futures closed slightly lower amidst prevailing negative sentiment.
According to market sources, the average price range for guar seed in auctions was reported at Rs 4700-4950 per quintal, with approximately 9,000 bags arriving today. Meanwhile, guar seed prices stood at Rs 5220 per quintal in all paid markets. Guar gum prices maintained stability at Rs 10,300 per quintal in the benchmark market of Jodhpur.
On the NCDEX, guar gum futures for March delivery concluded Rs 12 or 0.12% lower at Rs 10,255 per quintal, with session lows and highs recorded at Rs 10,225 and Rs 10,325, respectively. Similarly, guar seed futures for March delivery settled Rs 9 or 0.17% down at Rs 5,178 per quintal, with session lows and highs at Rs 5,178 and Rs 5,211.
Furthermore, guar seed futures for April delivery closed Rs 7 or 0.13% lower at Rs 5,245 per quintal, with session lows and highs at Rs 5,250 and Rs 5,282, respectively.
The stability in spot market prices can be attributed to consistent demand for guar gum from overseas markets, coupled with declining stocks resulting from reduced guar seed production last year.
GuarSeed contract for MAR delivery settled at Rs 5178/quintal showing an fall of Rs -9 over previous close of Rs 5187/quintal,The contract moved in the range of Rs 5178-5211 for the day. Open interest decreased by -3810 MT to 9105 MT, while trading volume decreased by -2060 to 6990 MT.
GuarSeed contract for APR delivery settled at Rs 5250/quintal showing an fall of Rs -7 over previous close of Rs 5257/quintal,The contract moved in the range of Rs 5245-5282 for the day. Open interest increased by 2550 MT to 73800 MT, while trading volume decreased by -5430 to 13935 MT.
Currently The spread between MAR and APR contract is -72 Rs/quintal.
GUARSEED stock in NCDEX accredited warehouse as on 13-Mar-2024, was 36573 MT
GuarGum contract for MAR delivery settled at Rs 10128/quintal showing an fall of Rs -29 over previous close of Rs 10157/quintal,The contract moved in the range of Rs 10113-10205 for the day. Open interest decreased by -2840 MT to 4560 MT, while trading volume increased by 15 to 4370 MT.
GuarGum contract for APR delivery settled at Rs 10255/quintal showing an fall of Rs -12 over previous close of Rs 10267/quintal,The contract moved in the range of Rs 10225-10325 for the day. Open interest increased by 1705 MT to 45230 MT, while trading volume increased by 720 to 7065 MT.
Currently The spread between MAR and APR contract is -127 Rs/quintal.
GuarGum stock in NCDEX accredited warehouse as on 13-Mar-2024, was 27685 MT
(By Commoditiescontrol Bureau: +91 9820130172)
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