Jodhpur, April 12 (Commoditiescontrol): Guar seed and gum prices experienced a notable rally on Friday driven by short-covering activities. Futures for both guar seed and gum surged by nearly 3% at the local bourse today, reflecting positive market sentiment.
Spot prices also witnessed an upward trend during afternoon sessions. Market analysts attribute this movement to the close correlation between prices in the spot market and their respective futures.
Market sources report that the average price range for guar seed in auctions was quoted at Rs 4,900-5,150 per quintal. Additionally, guar seed prices were noted at Rs 5,450 per quintal in all paid transactions. In the benchmark market of Jodhpur, guar gum prices were quoted at Rs 11,000 per quintal, with arrivals totaling 7,500 bags for the day.
On the NCDEX, guar gum futures for May delivery concluded Rs 413 higher, marking a significant increase of 3.92% to reach Rs 10,950 per quintal. The session's trading range was recorded between Rs 10,501 and Rs 10,958.
Similarly, guar seed futures for April delivery settled Rs 155 higher, up by 2.90% to reach Rs 5,494 per quintal on the NCDEX. The trading range for the session fluctuated between Rs 5,318 and Rs 5,507.
GuarSeed contract for APR delivery settled at Rs 5457/quintal showing an rise of Rs 209 over previous close of Rs 5248/quintal,The contract moved in the range of Rs 5241-5457 for the day. Open interest decreased by -6770 MT to 5005 MT, while trading volume increased by 2700 to 15500 MT.
GuarSeed contract for MAY delivery settled at Rs 5494/quintal showing an rise of Rs 155 over previous close of Rs 5339/quintal,The contract moved in the range of Rs 5318-5507 for the day. Open interest increased by 5045 MT to 68620 MT, while trading volume increased by 15950 to 38555 MT.
Currently The spread between APR and MAY contract is -37 Rs/quintal.
GUARSEED stock in NCDEX accredited warehouse as on 12-Apr-2024, was 34613 MT
GuarGum contract for APR delivery settled at Rs 10756/quintal showing an rise of Rs 362 over previous close of Rs 10394/quintal,The contract moved in the range of Rs 10362-10770 for the day. Open interest decreased by -5130 MT to 880 MT, while trading volume decreased by -750 to 7630 MT.
GuarGum contract for MAY delivery settled at Rs 10950/quintal showing an rise of Rs 413 over previous close of Rs 10537/quintal,The contract moved in the range of Rs 10501-10958 for the day. Open interest increased by 4340 MT to 48695 MT, while trading volume increased by 6245 to 18800 MT
Currently The spread between APR and MAY contract is -194 Rs/quintal.
GuarGum stock in NCDEX accredited warehouse as on 12-Apr-2024, was 24994 MT
(By Commoditiescontrol Bureau: +91 9820130172)
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