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Guar Seed and Gum Prices Extend Gains on Improved Demand

17 May 2024 5:20 pm
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Jodhpur, May 17, 2024 (Commoditiescontrol): Prices of guar seed and guar gum continued to show upward trend on Friday, driven by improved demand and increased arrivals. Both the physical and futures markets reflected this positive sentiment, with prices settling higher.

In the physical market, guar seed prices ranged from Rs 5000 to Rs 5275 per quintal in auctions, while all-paid prices were quoted at Rs 5500 per quintal. Guar gum prices were reported at Rs 10,900 per quintal in the key market of Jodhpur. The day's arrivals amounted to 7500 bags.

Market sources attribute the price increase to stockists liquidating their stocks at higher rates, anticipating further gains in the near term. Traders are optimistic about continued price hikes for guar seed and gum due to strong demand dynamics.

In the futures market, guar gum for June delivery ended Rs 52 or 0.48% higher at Rs 10,790 per quintal on the NCDEX (National Commodity & Derivatives Exchange). The session's trading range saw a low of Rs 10,725 and a high of Rs 11,000 per quintal.

Similarly, guar seed futures for June delivery settled Rs 24 or 0.44% higher at Rs 5,505 per quintal on the NCDEX, with the session's low at Rs 5,474 and the high at Rs 5,575 per quintal.

Analysts expect the bullish trend in guar seed and gum prices to persist, supported by robust demand and strategic stock management by traders.

GuarSeed contract for MAY delivery settled at Rs 5657/quintal showing an rise of Rs 202 over previous close of Rs 5455/quintal,The contract moved in the range of Rs 5657-5657 for the day. Open interest was simillar by 0 MT to 155 MT, while trading volume increased by 30 to 35 MT.


GuarSeed contract for JUN delivery settled at Rs 5505/quintal showing an rise of Rs 24 over previous close of Rs 5481/quintal,The contract moved in the range of Rs 5474-5575 for the day. Open interest increased by 705 MT to 59980 MT, while trading volume increased by 7215 to 20965 MT.

Currently The spread between MAY and JUN contract is 152 Rs/quintal.

GUARSEED stock in NCDEX accredited warehouse as on 17-May-2024, was 24349 MT

GuarGum contract for MAY delivery settled at Rs 10572/quintal showing an was simillar of Rs 0 over previous close of Rs 10572/quintal,The contract moved in the range of Rs 10560-10585 for the day. Open interest decreased by -195 MT to 170 MT, while trading volume increased by 70 to 175 MT.

GuarGum contract for JUN delivery settled at Rs 10790/quintal showing an rise of Rs 52 over previous close of Rs 10738/quintal,The contract moved in the range of Rs 10725-11000 for the day. Open interest decreased by -270 MT to 47865 MT, while trading volume increased by 2575 to 7050 MT.

Currently The spread between MAY and JUN contract is -218 Rs/quintal.

GuarGum stock in NCDEX accredited warehouse as on 17-May-2024, was 23966 MT


(By Commoditiescontrol Bureau: +91 9820130172)


       
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