Jodhpur, March 21 (Commoditiescontrol): Guar seed and gum prices maintained their firm stance in the spot market on Thursday, while futures witnessed a slight dip in trading.
According to market sources, the average price range for guar seed in auctions stood at Rs 4,700-4,900 per quintal, with arrivals totaling around 8,800 bags for the day.
In direct transactions, guar seed commanded a price of Rs 5,180 per quintal. Meanwhile, guar gum prices remained robust at Rs 10,200 per quintal in the key market of Jodhpur.
On the futures front, guar gum contracts for April delivery concluded at Rs 10,090 per quintal on the NCDEX, marking a decrease of Rs 26 or 0.25% from the previous session. The session saw prices fluctuating between Rs 10,071 and Rs 10,148.
Similarly, guar seed futures for April delivery settled at Rs 5,185 per quintal on the NCDEX, registering a decline of Rs 20 or 0.38%. The trading session witnessed prices ranging between Rs 5,178 and Rs 5,223.
Market analysts attribute the marginal downturn in futures trading to various factors, including demand-supply dynamics and broader market sentiments. Despite this minor setback, the overall outlook for guar seed and gum remains positive, supported by sustained demand and stable fundamentals.
GuarSeed contract for APR delivery settled at Rs 5185/quintal showing an fall of Rs -20 over previous close of Rs 5205/quintal,The contract moved in the range of Rs 5178-5223 for the day. Open interest increased by 68770 MT to 68965 MT, while trading volume increased by 9785 to 9975 MT.
GuarSeed contract for MAY delivery settled at Rs 5260/quintal showing an fall of Rs -9 over previous close of Rs 5269/quintal,The contract moved in the range of Rs 5241-5285 for the day. Open interest decreased by -55490 MT to 16120 MT, while trading volume decreased by -8535 to 5710 MT.
Currently The spread between APR and MAY contract is -75 Rs/quintal.
GUARSEED stock in NCDEX accredited warehouse as on 21-Mar-2024, was 36964 MT
GuarGum contract for APR delivery settled at Rs 10090/quintal showing an fall of Rs -26 over previous close of Rs 10116/quintal,The contract moved in the range of Rs 10071-10148 for the day. Open interest increased by 40840 MT to 41020 MT, while trading volume increased by 4375 to 4385 MT.
GuarGum contract for MAY delivery settled at Rs 10224/quintal showing an fall of Rs -26 over previous close of Rs 10250/quintal,The contract moved in the range of Rs 10193-10276 for the day. Open interest decreased by -35480 MT to 7885 MT, while trading volume decreased by -2550 to 2510 MT.
Currently The spread between APR and MAY contract is -134 Rs/quintal.
GuarGum stock in NCDEX accredited warehouse as on 21-Mar-2024, was 27132 MT
(By Commoditiescontrol Bureau: +91 9820130172)
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