Jodhpur, October 9 (CommoditiesControl): Prices for guar seed and gum experienced a notable rise on Wednesday, driven by improved buying activity. Both the physical market and futures saw positive movement, reflecting heightened demand.
According to market sources, the average auction price for guar seed remained relatively flat, ranging from Rs 4,800 to Rs 5,350 per quintal. However, in the Jodhpur market, guar seed was quoted at Rs 5,500 per quintal. Guar gum prices in Jodhpur's benchmark market were reported at Rs 11,000 per quintal.
Today's arrivals included approximately 24,000 bags of guar seed, consisting of 17,000 bags of new crop and 7,000 bags of old crop from various regions.
In the futures market, guar gum for October delivery closed at Rs 11,011 per quintal, marking an increase of Rs 45 (0.41%). The session saw prices fluctuate between Rs 10,905 and Rs 11,040. For November delivery, guar gum futures rose by Rs 58 (0.52%) to settle at Rs 11,160 per quintal, with a trading range of Rs 11,031 to Rs 11,185.
Guar seed futures also saw gains, with October delivery prices rising by Rs 26 (0.48%) to Rs 5,415 per quintal, fluctuating between Rs 5,395 and Rs 5,448. Similarly, November futures for guar seed increased by Rs 26 (0.47%) to Rs 5,496 per quintal, with prices ranging from Rs 5,475 to Rs 5,527.
The upward trend in prices is attributed to the stronger demand in the market, reflecting positive sentiment among buyers.
GuarSeed contract for OCT delivery settled at Rs 5415/quintal showing an fall of Rs -26 over previous close of Rs 5441/quintal,The contract moved in the range of Rs 5395-5448 for the day. Open interest decreased by -3410 MT to 16440 MT, while trading volume decreased by -2105 to 6715 MT.
GuarSeed contract for NOV delivery settled at Rs 5496/quintal showing an fall of Rs -26 over previous close of Rs 5522/quintal,The contract moved in the range of Rs 5475-5527 for the day. Open interest increased by 2460 MT to 47065 MT, while trading volume decreased by -420 to 14905 MT.
Currently The spread between OCT and NOV contract is -81 Rs/quintal.
GUARSEED stock in NCDEX accredited warehouse as on 09-Oct-2024, was 13877 MT
GuarGum contract for OCT delivery settled at Rs 11011/quintal showing an rise of Rs 45 over previous close of Rs 10966/quintal,The contract moved in the range of Rs 10905-11040 for the day. Open interest decreased by -2095 MT to 9920 MT, while trading volume decreased by -130 to 3745 MT.
GuarGum contract for NOV delivery settled at Rs 11160/quintal showing an rise of Rs 58 over previous close of Rs 11102/quintal,The contract moved in the range of Rs 11031-11185 for the day. Open interest increased by 2415 MT to 47820 MT, while trading volume increased by 50 to 8015 MT.
Currently The spread between OCT and NOV contract is -149 Rs/quintal.
GuarGum stock in NCDEX accredited warehouse as on 09-Oct-2024, was 22812 MT
(By Commoditiescontrol Bureau: +91 9820130172)
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