Spot Guar Seed and Gum Prices Stable; Futures Show Firmness

Jodhpur, March 20 (Commoditiescontrol): Guar seed and gum prices maintained stability in the physical market on Wednesday, while futures settled on a firm note. Market sources reported a consistent price range for guar seed in auctions, quoted at Rs 4700-4850 per quintal, with arrivals totaling around 8,200 bags.

In contrast, guar seed prices in all paid transactions were recorded at Rs 5150 per quintal. Guar gum prices stood firm at Rs 10,100 per quintal in the benchmark market of Jodhpur.

On the futures front, guar gum futures for April delivery concluded Rs 58 or 0.58% higher at Rs 10,085 per quintal on the NCDEX, with session lows and highs at Rs 9,975 and Rs 10,180 respectively.

Similarly, guar seed futures for April delivery settled Rs 18 or 0.35% up at Rs 5,198 per quintal on the NCDEX. Session lows and highs for guar seed futures were recorded at Rs 5,155 and Rs 5,225 respectively.

Stability in spot prices of guar seed and gum can be attributed to consistent demand from the overseas market, coupled with diminishing stocks owing to reduced production of guar seed in the previous year. The firmness observed in futures reflects market sentiments and expectations of sustained demand in the near term.

GuarSeed contract for MAR delivery settled at Rs 5200/quintal showing an was simillar of Rs 0 over previous close of Rs 5200/quintal,The contract moved in the range of Rs 5200-5200 for the day. Open interest decreased by -325 MT to 195 MT, while trading volume increased by 180 to 190 MT.

GuarSeed contract for APR delivery settled at Rs 5198/quintal showing an rise of Rs 18 over previous close of Rs 5180/quintal,The contract moved in the range of Rs 5155-5225 for the day. Open interest decreased by -3485 MT to 71610 MT, while trading volume increased by 1080 to 14245 MT.

Currently The spread between MAR and APR contract is 2 Rs/quintal.

GUARSEED stock in NCDEX accredited warehouse as on 20-Mar-2024, was 36935 MT




GuarGum contract for MAR delivery settled at Rs 10043/quintal showing an was simillar of Rs 0 over previous close of Rs 10043/quintal,The contract moved in the range of Rs 10043-10043 for the day. Open interest was simillar by 0 MT to 180 MT, while trading volume increased by 10 to 10 MT.

GuarGum contract for APR delivery settled at Rs 10085/quintal showing an rise of Rs 58 over previous close of Rs 10027/quintal,The contract moved in the range of Rs 9975-10180 for the day. Open interest decreased by -1005 MT to 43365 MT, while trading volume decreased by -1235 to 5060 MT.

Currently The spread between MAR and APR contract is -42 Rs/quintal.

GuarGum stock in NCDEX accredited warehouse as on 20-Mar-2024, was 27569 MT

(By Commoditiescontrol Bureau: +91 9820130172)