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Guar Market Subdued Amid High Arrivals and Weak Futures, Prices Hold Firm

7 Dec 2023 5:25 pm
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Jodhpur, December 7 (CommoditiesControl): The guar market experienced a subdued atmosphere on Thursday, marked by elevated arrivals and bearish signals from the futures market. Despite this, guar gum prices remained relatively unchanged, and guar seed saw a marginal dip in auction trading, with no significant alterations in overall pricing.

The total arrivals of guar seed reached around 41,500 bags across major markets in the country today, comprising 39,500 bags of new crop and 2,000 bags of the old crop. Auction prices for guar seed ranged from Rs 4,800 to Rs 5,330 per quintal on average.

In Rajasthan, prices were quoted between Rs 4,800 and Rs 5,270 per quintal, while Haryana recorded prices ranging from Rs 4,800 to Rs 5,280 per quintal. Gujarat witnessed prices between Rs 4,700 and Rs 5,330 per quintal, and in Punjab, guar seed prices were in the range of Rs 4,800 to Rs 5,000 per quintal.

In the all-paid category, guar seed prices remained stable at Rs 5,500 per quintal, and guar gum prices held steady at Rs 11,200 per quintal in the key market of Jodhpur.

The futures market for guar in December concluded with a decrease of Rs 64 or 0.58%, settling at Rs 10,984 per quintal on the NCDEX. The session's low and high were Rs 10,900 and Rs 11,060, respectively.

Guar seed futures for December delivery closed Rs 26 or 0.47% lower at Rs 5,515 per quintal on the NCDEX, with the session's low and high recorded at Rs 5,492 and Rs 5,550, respectively.

GuarSeed contract for DEC delivery settled at Rs 5515/quintal showing an fall of Rs -26 over previous close of Rs 5541/quintal,The contract moved in the range of Rs 5492-5550 for the day. Open interest decreased by -6190 MT to 30795 MT, while trading volume increased by 3130 to 13700 MT.
GuarSeed contract for JAN delivery settled at Rs 5567/quintal showing an fall of Rs -27 over previous close of Rs 5594/quintal,The contract moved in the range of Rs 5535-5607 for the day. Open interest increased by 4630 MT to 56930 MT, while trading volume increased by 1160 to 20190 MT.

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

GUARSEED stock in NCDEX accredited warehouse as on 07-Dec-2023, was 24970 MT



GuarGum contract for DEC delivery settled at Rs 10984/quintal showing an fall of Rs -64 over previous close of Rs 11048/quintal,The contract moved in the range of Rs 10900-11060 for the day. Open interest decreased by -2755 MT to 18045 MT, while trading volume increased by 265 to 4455 MT.

GuarGum contract for JAN delivery settled at Rs 11120/quintal showing an fall of Rs -83 over previous close of Rs 11203/quintal,The contract moved in the range of Rs 11050-11215 for the day. Open interest increased by 2285 MT to 47555 MT, while trading volume decreased by -655 to 7900 MT.

Currently The spread between DEC and JAN contract is -136 Rs/quintal.

GuarGum stock in NCDEX accredited warehouse as on 07-Dec-2023, was 30287 MT

(By Commoditiescontrol Bureau: +91 9820130172)

       
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