Jodhpur, 6 September (CommoditiesControl) — Guar seed and gum prices held steady in both the physical and futures markets on Friday, as market participants await clearer direction from crop analysts.
In the physical market, guar seed prices remained flat with an average auction price ranging between INR 4800 and INR 5030 per quintal. In Jodhpur, guar seed prices were stable at INR 5320 per quintal, while guar gum prices also held steady at INR 10,600 per quintal. Arrivals in Jodhpur increased slightly to 6500 bags, up by 200 bags from the previous session.
The stability in prices reflects the current market uncertainty, as both buyers and sellers await further insights into crop conditions. Market analysts anticipate that a clearer picture of crop estimates will emerge after 15 September, once weather conditions are better understood. There is a possibility that if the major guar-producing regions of Rajasthan receive rainfall in the latter half of September, crop conditions could improve. However, it is expected that guar crop production will be approximately 30 percent lower compared to last year.
In the futures markets on the NCDEX, guar gum futures for October delivery ended INR 12 lower at INR 10,660 per quintal, with the session's low and high recorded at INR 10,601 and INR 10,764, respectively. Similarly, guar seed futures for October delivery finished INR 2 lower at INR 5417 per quintal, with session lows and highs at INR 5318 and INR 5374, respectively.
The flat prices in both spot and futures markets reflect a period of caution as traders await more definitive information on crop yields and weather impacts.
GuarSeed contract for SEP delivery settled at Rs 5331/quintal showing an fall of Rs -13 over previous close of Rs 5344/quintal,The contract moved in the range of Rs 5318-5374 for the day. Open interest decreased by -2610 MT to 25900 MT, while trading volume increased by 3255 to 12030 MT
GuarSeed contract for OCT delivery settled at Rs 5417/quintal showing an fall of Rs -2 over previous close of Rs 5419/quintal,The contract moved in the range of Rs 5393-5457 for the day. Open interest increased by 1190 MT to 35045 MT, while trading volume increased by 7760 to 24410 MT.
Currently The spread between SEP and OCT contract is -86 Rs/quintal
GUARSEED stock in NCDEX accredited warehouse as on 06-Sep-2024, was 14222 MT
GuarGum contract for SEP delivery settled at Rs 10491/quintal showing an fall of Rs -18 over previous close of Rs 10509/quintal,The contract moved in the range of Rs 10452-10600 for the day. Open interest decreased by -2425 MT to 13695 MT, while trading volume increased by 1630 to 4455 MT
GuarGum contract for OCT delivery settled at Rs 10660/quintal showing an fall of Rs -12 over previous close of Rs 10672/quintal,The contract moved in the range of Rs 10601-10764 for the day. Open interest increased by 1125 MT to 40380 MT, while trading volume increased by 2335 to 8415 MT.
Currently The spread between SEP and OCT contract is -169 Rs/quintal
GuarGum stock in NCDEX accredited warehouse as on 06-Sep-2024, was 20024 MT
(By Commoditiescontrol Bureau: +91 9820130172)
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