Guar Seed and Gum Prices Remain Steady Amid Lackluster Trade

Jodhpur, June 18 (Commoditiescontrol): Guar seed and gum prices remained nearly steady in the spot market on Monday, reflecting the lackluster activity in the futures market. Traders are keenly observing the progress of the monsoon, as the sowing of guar crops heavily depends on the rainfall in the rainfed areas of Rajasthan.

According to market sources, the average price range for guar seed in auctions was quoted at Rs 5000-5300 per quintal. In the spot market, guar seed prices were quoted at Rs 5450 per quintal. Guar gum prices stood at Rs 10,800 per quintal in the benchmark market of Jodhpur, with arrivals totaling 7600 bags.

On the futures front, guar gum contracts for June delivery ended Rs 67 or 0.63% down at Rs 10,550 per quintal on the NCDEX. For July delivery, guar gum futures closed Rs 2 or 0.02% down at Rs 10,810 per quintal, with the session's low and high recorded at Rs 10,802 and Rs 10,965, respectively.

Guar seed futures for July delivery settled Rs 9 or 0.16% down at Rs 5,475 per quintal on the NCDEX, with the session's low and high at Rs 5,470 and Rs 5,539, respectively.

GuarSeed contract for JUN delivery settled at Rs 5420/quintal showing an was simillar of Rs 0 over previous close of Rs 5420/quintal,The contract moved in the range of Rs 5420-5420 for the day. Open interest decreased by -170 MT to 250 MT, while trading volume decreased by -360 to 35 MT.

GuarSeed contract for JUL delivery settled at Rs 5475/quintal showing an fall of Rs -9 over previous close of Rs 5484/quintal,The contract moved in the range of Rs 5470-5539 for the day. Open interest increased by 350 MT to 53340 MT, while trading volume decreased by -605 to 12585 MT

Currently The spread between JUN and JUL contract is -55 Rs/quintal.

GUARSEED stock in NCDEX accredited warehouse as on 18-Jun-2024, was 21235 MT.

GuarGum contract for JUN delivery settled at Rs 10550/quintal showing an fall of Rs -67 over previous close of Rs 10617/quintal,The contract moved in the range of Rs 10550-10550 for the day. Open interest decreased by -310 MT to 145 MT, while trading volume decreased by -295 to 100 MT.

GuarGum contract for JUL delivery settled at Rs 10810/quintal showing an fall of Rs -2 over previous close of Rs 10812/quintal,The contract moved in the range of Rs 10802-10965 for the day. Open interest increased by 25 MT to 48110 MT, while trading volume increased by 1105 to 6525 MT.

Currently The spread between JUN and JUL contract is -260 Rs/quintal.

GuarGum stock in NCDEX accredited warehouse as on 18-Jun-2024, was 22670 MT

(By Commoditiescontrol Bureau: +91 9820130172)