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Guar Seed and Gum Prices Hold Steady in Spot Market, Futures Exhibit Resilience

6 Dec 2023 5:57 pm
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Jodhpur, December 6 (CommoditiesControl): The prices of guar seed and gum demonstrated stability in the spot market for the second consecutive day on Wednesday, with futures closing more than 1% higher. Analysts predict that guar seed prices may witness an increase only when the regular supply to the market falls below 30,000 bags.

The arrivals of guar seed remained consistent, reaching approximately 42,000 bags across the major markets in the country today. The auctioned average price for guar seed ranged from Rs 4,800 to Rs 5,350 per quintal, showing a slight uptick from the previous session.

Overall, guar seed prices held steady at Rs 5,500 per quintal. Similarly, guar gum prices maintained stability at Rs 11,200 per quintal in the key market of Jodhpur.

Guar futures for December delivery concluded 1.10% higher at Rs 11,057 per quintal on the NCDEX, with the session's low and high recorded at Rs 10,898 and Rs 11,144, respectively.

Meanwhile, guar seed futures for December delivery recorded a 1.04% increase, closing at Rs 5,539 per quintal on the NCDEX, with the session's low and high noted at Rs 5,460 and Rs 5,570, respectively.

GuarSeed contract for DEC delivery settled at Rs 5539/quintal showing an rise of Rs 57 over previous close of Rs 5482/quintal,The contract moved in the range of Rs 5460-5570 for the day. Open interest decreased by -3940 MT to 36985 MT, while trading volume decreased by -5235 to 10570 MT.
GuarSeed contract for JAN delivery settled at Rs 5591/quintal showing an rise of Rs 55 over previous close of Rs 5536/quintal,The contract moved in the range of Rs 5521-5628 for the day. Open interest increased by 4505 MT to 52300 MT, while trading volume decreased by -3950 to 19030 MT.

Currently The spread between DEC and JAN contract is -52 Rs/quintal.

GUARSEED stock in NCDEX accredited warehouse as on 06-Dec-2023, was 24900 MT



GuarGum contract for DEC delivery settled at Rs 11057/quintal showing an rise of Rs 120 over previous close of Rs 10937/quintal,The contract moved in the range of Rs 10898-11144 for the day. Open interest decreased by -2145 MT to 20800 MT, while trading volume decreased by -3230 to 4190 MT.

GuarGum contract for JAN delivery settled at Rs 11210/quintal showing an rise of Rs 125 over previous close of Rs 11085/quintal,The contract moved in the range of Rs 11055-11295 for the day. Open interest increased by 2540 MT to 45270 MT, while trading volume decreased by -1990 to 8555 MT.

Currently The spread between DEC and JAN contract is -153 Rs/quintal.

GuarGum stock in NCDEX accredited warehouse as on 06-Dec-2023, was 30317 MT

(By Commoditiescontrol Bureau: +91 9820130172)

       
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