Jodhpur, June 19 (Commoditiescontrol)* – Guar seed and gum prices declined in both the physical market and futures on Wednesday due to weak demand. Traders and market participants are closely monitoring the monsoon, as the sowing of the guar crop in the rainfed areas of Rajasthan will heavily depend on the rainfall received.
According to market sources, the average price range for guar seed in auctions was quoted at Rs 5000-5250 per quintal, marking a decrease of Rs 50 per quintal. In all-paid transactions, guar seed prices were quoted at Rs 5400 per quintal, also down by Rs 50 per quintal. Guar gum prices fell by Rs 100, quoted at Rs 10,700 per quintal in Jodhpur, the benchmark market. Today's arrivals were reported at 8,200 bags.
In the futures market, guar gum futures for delivery in July ended Rs 116 or 1.07% down, closing at Rs 10,700 per quintal on the NCDEX. The session's low and high were Rs 10,700 and Rs 10,860, respectively. Guar seed futures for delivery in July settled Rs 50 or 0.91% down, closing at Rs 5,426 per quintal on the NCDEX. The low and high of the session were Rs 5,412 and Rs 5,484, respectively.
The decline in prices reflects the cautious sentiment in the market, with participants awaiting more concrete signals from the monsoon season, which will play a crucial role in the upcoming sowing and overall market dynamics for guar seed and gum.
GuarSeed contract for JUN delivery settled at Rs 5420/quintal showing an was simillar of Rs 0 over previous close of Rs 5420/quintal,The contract moved in the range of Rs 5420-5420 for the day. Open interest decreased by -15 MT to 235 MT, while trading volume increased by 15 to 50 MT.
GuarSeed contract for JUL delivery settled at Rs 5426/quintal showing an fall of Rs -50 over previous close of Rs 5476/quintal,The contract moved in the range of Rs 5412-5484 for the day. Open interest decreased by -2695 MT to 50645 MT, while trading volume increased by 3985 to 16570 MT.
Currently The spread between JUN and JUL contract is -6 Rs/quintal.
GUARSEED stock in NCDEX accredited warehouse as on 19-Jun-2024, was 21085 MT
GuarGum contract for JUN delivery settled at Rs 10550/quintal showing an was simillar of Rs 0 over previous close of Rs 10550/quintal,The contract moved in the range of Rs 10550-10550 for the day. Open interest decreased by -50 MT to 95 MT, while trading volume decreased by -95 to 5 MT.
GuarGum contract for JUL delivery settled at Rs 10700/quintal showing an fall of Rs -116 over previous close of Rs 10816/quintal,The contract moved in the range of Rs 10700-10860 for the day. Open interest decreased by -1540 MT to 46570 MT, while trading volume decreased by -135 to 6390 MT.
Currently The spread between JUN and JUL contract is -150 Rs/quintal.
GuarGum stock in NCDEX accredited warehouse as on 19-Jun-2024, was 22521 MT
(By Commoditiescontrol Bureau: +91 9820130172)
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