Jodhpur, August 8 (Commoditiescontrol): Guar seed prices inched up in both physical and futures markets on Thursday, while guar gum prices remained nearly steady. According to traders, the prices of guar seed and gum are expected to rise in the coming sessions due to increasing demand at lower levels.
In the physical market, guar seed prices saw a slight uptick, with auction prices ranging between Rs 4800-5150 per quintal. In Jodhpur, guar seed prices remained flat at Rs 5300 per quintal. Meanwhile, guar gum was quoted at Rs 10,550 per quintal in the Jodhpur market, with total arrivals reported at 6,000 bags.
In the futures market, guar gum for September delivery on the National Commodity and Derivatives Exchange (NCDEX) closed Rs 4 higher, or 0.04%, at Rs 10,600 per quintal. The contract saw intraday lows of Rs 10,520 and highs of Rs 10,639.
Similarly, guar seed futures for July delivery ended Rs 14 higher, or 0.26%, at Rs 5,372 per quintal, with session lows and highs recorded at Rs 5,334 and Rs 5,377, respectively.
Market participants are keeping a close eye on demand trends, as any increase could push prices higher in the coming sessions.
GuarSeed contract for AUG delivery settled at Rs 5296/quintal showing an rise of Rs 17 over previous close of Rs 5279/quintal,The contract moved in the range of Rs 5255-5298 for the day. Open interest decreased by -3570 MT to 16965 MT, while trading volume increased by 295 to 5440 MT.
GuarSeed contract for SEP delivery settled at Rs 5372/quintal showing an rise of Rs 14 over previous close of Rs 5358/quintal,The contract moved in the range of Rs 5334-5377 for the day. Open interest increased by 3580 MT to 42955 MT, while trading volume decreased by -1210 to 10390 MT.
Currently The spread between AUG and SEP contract is -76 Rs/quintal.
GUARSEED stock in NCDEX accredited warehouse as on 08-Aug-2024, was 18430 MT
GuarGum contract for AUG delivery settled at Rs 10440/quintal showing an fall of Rs -1 over previous close of Rs 10441/quintal,The contract moved in the range of Rs 10355-10460 for the day. Open interest decreased by -2395 MT to 11865 MT, while trading volume decreased by -30 to 3730 MT
GuarGum contract for SEP delivery settled at Rs 10600/quintal showing an rise of Rs 4 over previous close of Rs 10596/quintal,The contract moved in the range of Rs 10520-10639 for the day. Open interest increased by 1675 MT to 41555 MT, while trading volume decreased by -530 to 4790 MT.
Currently The spread between AUG and SEP contract is -160 Rs/quintal
GuarGum stock in NCDEX accredited warehouse as on 08-Aug-2024, was 22113 MT
(By Commoditiescontrol Bureau: +91 9820130172)
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