Jodhpur, March 27 (Commoditiescontrol): Guar seed and gum prices remained unchanged on Wednesday in the spot market, while futures continued to decline amid prevailing negative sentiment.
According to market sources, the average price range for guar seed in auctions was reported at Rs 4600-4850 per quintal, with arrivals of around 8,000 bags noted for the day.
In the benchmark market of Jodhpur, guar seed prices stood at Rs 5030 per quintal, while guar gum prices were quoted at Rs 10,000 per quintal.
On the NCDEX, guar gum futures for April delivery closed Rs 24 or 0.24% lower at Rs 9,867 per quintal. The session witnessed a trading range between Rs 9,828 and Rs 9,920.
Similarly, guar seed futures for April delivery settled Rs 20 or 0.39% down at Rs 5,062 per quintal on the NCDEX. The session's trading range was between Rs 5,048 and Rs 5,082.
The downward trend in futures prices reflects the prevailing negative sentiment in the market, prompting traders to extend their selling positions.
As the guar seed and gum market witnesses stability in spot prices alongside continued decline in futures, market participants remain attentive to unfolding developments to make informed trading decisions.
GuarSeed contract for APR delivery settled at Rs 5062/quintal showing an fall of Rs -20 over previous close of Rs 5082/quintal,The contract moved in the range of Rs 5048-5082 for the day. Open interest decreased by -4805 MT to 59585 MT, while trading volume increased by 395 to 15115 MT.
GuarSeed contract for MAY delivery settled at Rs 5134/quintal showing an fall of Rs -18 over previous close of Rs 5152/quintal,The contract moved in the range of Rs 5119-5150 for the day. Open interest increased by 3605 MT to 24000 MT, while trading volume increased by 3365 to 8250 MT.
Currently The spread between APR and MAY contract is -72 Rs/quintal.
GUARSEED stock in NCDEX accredited warehouse as on 27-Mar-2024, was 37244 MT
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GuarGum contract for APR delivery settled at Rs 9867/quintal showing an fall of Rs -24 over previous close of Rs 9891/quintal,The contract moved in the range of Rs 9828-9920 for the day. Open interest decreased by -4030 MT to 31365 MT, while trading volume increased by 180 to 8505 MT.
GuarGum contract for MAY delivery settled at Rs 9983/quintal showing an fall of Rs -38 over previous close of Rs 10021/quintal,The contract moved in the range of Rs 9948-10038 for the day. Open interest increased by 3695 MT to 16860 MT, while trading volume increased by 2540 to 6470 MT.
Currently The spread between APR and MAY contract is -116 Rs/quintal.
GuarGum stock in NCDEX accredited warehouse as on 27-Mar-2024, was 26981 MT
(By Commoditiescontrol Bureau: +91 9820130172)
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