Jodhpur, May 16 (Commoditiescontrol) – Guar seed and gum prices held firm in both physical and futures markets on Thursday, driven by improved demand.
A trader noted that while arrivals were slightly lower, strong demand for guar gum from overseas markets is expected to keep prices elevated in the near future. The guar market is primarily taking cues from futures, but spot prices are unlikely to decline further due to dwindling stocks.
Market sources indicated that the average auction price for guar seed ranged between Rs 5000-5250 per quintal, with all paid guar seed prices quoted at Rs 5480 per quintal. Guar gum prices in the benchmark Jodhpur market were Rs 10,850 per quintal, with arrivals totaling 6800 bags.
GuarSeed contract for MAY delivery settled at Rs 5455/quintal showing an rise of Rs 23 over previous close of Rs 5432/quintal,The contract moved in the range of Rs 5455-5455 for the day. Open interest decreased by -825 MT to 155 MT, while trading volume decreased by -165 to 5 MT.
GuarSeed contract for JUN delivery settled at Rs 5468/quintal showing an rise of Rs 29 over previous close of Rs 5439/quintal,The contract moved in the range of Rs 5430-5498 for the day. Open interest decreased by -950 MT to 59275 MT, while trading volume increased by 6435 to 13750 MT.
Currently The spread between MAY and JUN contract is -13 Rs/quintal.
GUARSEED stock in NCDEX accredited warehouse as on 16-May-2024, was 24449 MT
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GuarGum contract for MAY delivery settled at Rs 10560/quintal showing an rise of Rs 9 over previous close of Rs 10551/quintal,The contract moved in the range of Rs 10560-10585 for the day. Open interest decreased by -70 MT to 365 MT, while trading volume decreased by -130 to 105 MT.
GuarGum contract for JUN delivery settled at Rs 10710/quintal showing an rise of Rs 30 over previous close of Rs 10680/quintal,The contract moved in the range of Rs 10659-10788 for the day. Open interest increased by 385 MT to 48135 MT, while trading volume increased by 1375 to 4475 MT.
Currently The spread between MAY and JUN contract is -150 Rs/quintal.
GuarGum stock in NCDEX accredited warehouse as on 16-May-2024, was 23936 MT
(By Commoditiescontrol Bureau: +91 9820130172)
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