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Guar seed, gum firm at spot, futures end a tad down

22 Sep 2021 7:46 pm
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JODHPUR, Sept 22 (Commoditiescontrol) Guar seed and gum prices were firm for the second consecutive day in the spot market on Wednesday while futures ended a little lower.

New crop arrival has started and it may gain in coming days, that's the reason, profitbooking was seen at higher level in the future trade, said a maket analyst.

Guar seed prices were Rs 50 up at Rs 5,850 per quintal at Jodhpur, a benchmark market in Rajasthan. Guar gum was priced at Rs 9,800per quintal, up Rs 50 from last trading session.

At National Commodity and Derivatives Exchange (NCDEX), guar gum for deluvery in October ended at Rs 9,608 per quintal, Rs 57 or 0.59 percent down from the last session. The high and low of the session were Rs 9925 and 9480 respectively.

Guar seed for delivery in October ended Rs 19 or 0.33 percent down at Rs 5,810 per quintal. High and low of the session were Rs 5959 and 5730 respectively.

As per the trade analysts, harvesting of guar seed has already begun in some area, however, recent rains have affected the harvesting activities, but it will gather pace in coming days as weather is favourable. However, arrivals will delay, said the analysts.

Shripal sharma, an analyst said recent rains may affect the quality of the crop and if it happens so, stockiest will hesitate to buy following which large quantity of guar seed will be available for crushing.

Hence, prices may come under presure as crushing demand for seed is negligible for past two months due high rates of seed.

(By Commoditiescontrol Bureau)


       
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