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Guar Market Show Firm Tone Amid Short Supply and High Demand

18 Apr 2024 5:18 pm
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Jodhpur, April 18 (Commoditiescontrol): The guar market exhibited a firmer tone on Thursday due to weak supply and increased demand. Prices of both guar seed and gum were quoted higher as buyers showed significant interest in expanding their positions at current levels.

Traders noted a consistent demand for guar gum from overseas markets, while arrivals of guar seed remained weak. Additionally, declining stocks of gum further supported its prices.

Market sources reported that the average price range for guar seed in auctions ranged from Rs 5,000 to Rs 5,230 per quintal. In all paid transactions, guar seed prices were quoted at Rs 5,525 per quintal. In the benchmark market of Jodhpur, guar gum prices reached Rs 11,150 per quintal, with arrivals totaling 7,500 bags today.

Guar gum futures for delivery in May concluded Rs 88 or 0.80% higher at Rs 11,050 per quintal on the NCDEX, with session lows and highs at Rs 11,000 and Rs 11,110 respectively.

Meanwhile, guar seed futures for delivery in April settled Rs 41 or 0.74% higher at Rs 5,559 per quintal on the NCDEX, with session lows and highs at Rs 5,521 and Rs 5,579 respectively.

GuarSeed contract for APR delivery settled at Rs 5557/quintal showing an rise of Rs 132 over previous close of Rs 5425/quintal,The contract moved in the range of Rs 5524-5558 for the day. Open interest decreased by -425 MT to 575 MT, while trading volume decreased by -555 to 445 MT.

GuarSeed contract for MAY delivery settled at Rs 5559/quintal showing an rise of Rs 41 over previous close of Rs 5518/quintal,The contract moved in the range of Rs 5521-5579 for the day. Open interest decreased by -850 MT to 65820 MT, while trading volume decreased by -1860 to 18765 MT.

Currently The spread between APR and MAY contract is -2 Rs/quintal.

GUARSEED stock in NCDEX accredited warehouse as on 18-Apr-2024, was 33875 MT



GuarGum contract for APR delivery settled at Rs 10831/quintal showing an was simillar of Rs 0 over previous close of Rs 10831/quintal,The contract moved in the range of Rs 10831-10831 for the day. Open interest decreased by -110 MT to 450 MT, while trading volume increased by 35 to 145 MT.

GuarGum contract for MAY delivery settled at Rs 11050/quintal showing an rise of Rs 88 over previous close of Rs 10962/quintal,The contract moved in the range of Rs 11000-11110 for the day. Open interest decreased by -2190 MT to 46295 MT, while trading volume increased by 335 to 8340 MT.

Currently The spread between APR and MAY contract is -219 Rs/quintal.

GuarGum stock in NCDEX accredited warehouse as on 18-Apr-2024, was 25202 MT



(By Commoditiescontrol Bureau: +91 9820130172)


       
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