Jodhpur, September 9 (CommoditiesControl): Prices for guar seed and guar gum experienced a decline in the physical markets today, following a weak performance in futures trading. Traders observed that the guar market had remained stable in recent sessions, but profit-taking activities led to today's reductions. The expectation of rain in several parts of Rajasthan has raised hopes for improved crop conditions, providing some support to the market, according to analysts.
In the auctions, guar seed prices ranged from Rs 4700 to Rs 5050 per quintal on average. In Jodhpur, guar seed prices decreased by Rs 50 to Rs 5250 per quintal, while guar gum prices fell by Rs 300 to Rs 10,200 per quintal. The total arrivals in Jodhpur amounted to 6700 bags.
Futures contracts for guar gum on the NCDEX saw declines, with the October delivery falling by Rs 133 or 1.25% to close at Rs 10,522 per quintal. The low and high for the session were Rs 10,460 and Rs 10,710, respectively. For September delivery, guar gum futures ended Rs 131 or 1.25% lower at Rs 10,373 per quintal, with session lows and highs of Rs 10,223 and Rs 10,470, respectively.
Similarly, guar seed futures also dropped. The October delivery futures were down by Rs 82 or 1.51%, ending at Rs 5,335 per quintal, with the low and high of the session at Rs 5,322 and Rs 5,410, respectively. For September delivery, guar seed futures closed Rs 85 or 1.59% lower at Rs 5,248 per quintal, with session lows and highs of Rs 5,240 and Rs 5,321, respectively.
The decline in futures prices has contributed to the overall decrease in physical market prices for both guar seed and gum.
GuarSeed contract for SEP delivery settled at Rs 5248/quintal showing an fall of Rs -85 over previous close of Rs 5333/quintal,The contract moved in the range of Rs 5240-5321 for the day. Open interest decreased by -1995 MT to 23905 MT, while trading volume decreased by -5590 to 6440 MT.
GuarSeed contract for OCT delivery settled at Rs 5335/quintal showing an fall of Rs -82 over previous close of Rs 5417/quintal,The contract moved in the range of Rs 5322-5410 for the day. Open interest increased by 3470 MT to 38515 MT, while trading volume decreased by -7485 to 16925 MT.
Currently The spread between SEP and OCT contract is -87 Rs/quintal.
GUARSEED stock in NCDEX accredited warehouse as on 08-Sep-2024, was 14292 MT
GuarGum contract for SEP delivery settled at Rs 10373/quintal showing an fall of Rs -131 over previous close of Rs 10504/quintal,The contract moved in the range of Rs 10323-10470 for the day. Open interest decreased by -2155 MT to 11540 MT, while trading volume decreased by -640 to 3815 MT.
GuarGum contract for OCT delivery settled at Rs 10522/quintal showing an fall of Rs -133 over previous close of Rs 10655/quintal,The contract moved in the range of Rs 10460-10710 for the day. Open interest increased by 1350 MT to 41730 MT, while trading volume decreased by -1760 to 6655 MT.
Currently The spread between SEP and OCT contract is -149 Rs/quintal.
GuarGum stock in NCDEX accredited warehouse as on 08-Sep-2024, was 20124 MT
(By Commoditiescontrol Bureau: +91 9820130172)
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