Jodhpur, May 9 (CommoditiesControl): Guar seed and gum prices continued to show downward trend in both the spot and futures markets on Thursday. Traders attributed this decline to the bearish trend observed in the futures market, which had a direct impact on the spot market.
Although the guar market saw normal trading activity during the day, prices experienced a drop in the evening session due to weakness in the futures market, according to market analysts.
In auctions, the average price range for guar seed was reported at Rs 5000-5200 per quintal. Meanwhile, guar seed prices in all paid transactions were quoted at Rs 5360 per quintal. Guar gum prices in the benchmark market of Jodhpur were quoted at Rs 10,750 per quintal, with arrivals totaling 7000 bags.
During the evening session, guar seed prices saw a decline of Rs 50 per quintal, while gum prices witnessed a drop of Rs 100 per quintal.
On the NCDEX, guar gum futures for delivery in May ended Rs 137 or 1.28% lower at Rs 10,571 per quintal. The session's low and high were Rs 10,511 and Rs 10,709, respectively.
Similarly, guar seed futures for delivery in May settled Rs 51 or 0.94% down at Rs 5,350 per quintal on the NCDEX. The session's low and high were Rs 5,361 and Rs 5,417, respectively.
GuarSeed contract for MAY delivery settled at Rs 5361/quintal showing an fall of Rs -51 over previous close of Rs 5412/quintal,The contract moved in the range of Rs 5350-5417 for the day. Open interest decreased by -4600 MT to 18760 MT, while trading volume increased by 2560 to 10930 MT.
GuarSeed contract for JUN delivery settled at Rs 5425/quintal showing an fall of Rs -58 over previous close of Rs 5483/quintal,The contract moved in the range of Rs 5411-5488 for the day. Open interest increased by 3395 MT to 47880 MT, while trading volume increased by 3865 to 18625 MT.
Currently The spread between MAY and JUN contract is -64 Rs/quintal.
GUARSEED stock in NCDEX accredited warehouse as on 09-May-2024, was 26841 MT
GuarGum contract for MAY delivery settled at Rs 10571/quintal showing an fall of Rs -137 over previous close of Rs 10708/quintal,The contract moved in the range of Rs 10511-10709 for the day. Open interest decreased by -4470 MT to 11370 MT, while trading volume increased by 2395 to 6510 MT.
GuarGum contract for JUN delivery settled at Rs 10699/quintal showing an fall of Rs -137 over previous close of Rs 10836/quintal,The contract moved in the range of Rs 10650-10840 for the day. Open interest increased by 3915 MT to 39120 MT, while trading volume increased by 4270 to 10550 MT.
Currently The spread between MAY and JUN contract is -128 Rs/quintal.
GuarGum stock in NCDEX accredited warehouse as on 09-May-2024, was 25245 MT
(By Commoditiescontrol Bureau: +91 9820130172)
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