Jodhpur, October 10 (Commoditiescontrol): Guar seed and gum prices continued their upward trend on Thursday, marking a second consecutive session of gains driven by increasing demand and expectations of a shorter crop.
Market analysts report that the average price range for guar seed in auctions rose by Rs 50, now quoted at Rs 4,800-5,400 per quintal. In Jodhpur's market, prices increased to Rs 5,550 per quintal.
Guar gum prices also saw a significant rise, reaching Rs 11,400 per quintal in the benchmark market of Jodhpur. Total arrivals of guar seed across the country were approximately 28,000 bags.
On the futures market, guar gum for October delivery closed at Rs 11,230 per quintal on the NCDEX, up by Rs 265 or 2.42%, with session lows and highs at Rs 11,024 and Rs 11,288, respectively. Similarly, November delivery futures for guar gum ended at Rs 11,358 per quintal, gaining Rs 240 or 2.16%, with a trading range of Rs 11,160 to Rs 11,430.
Guar seed futures for October delivery rose by Rs 81 or 1.50%, closing at Rs 5,489 per quintal, while November futures gained Rs 82 or 1.49%, reaching Rs 5,570 per quintal, with session lows and highs of Rs 5,509 and Rs 5,605, respectively.
The ongoing increase in prices reflects a robust market response amid supply concerns, positioning guar seed and gum as key commodities to watch in the upcoming trading sessions.
GuarSeed contract for OCT delivery settled at Rs 5489/quintal showing an rise of Rs 81 over previous close of Rs 5408/quintal,The contract moved in the range of Rs 5400-5519 for the day. Open interest decreased by -4820 MT to 11620 MT, while trading volume increased by 2885 to 9600 MT.
GuarSeed contract for NOV delivery settled at Rs 5570/quintal showing an rise of Rs 82 over previous close of Rs 5488/quintal,The contract moved in the range of Rs 5509-5605 for the day. Open interest increased by 315 MT to 47380 MT, while trading volume increased by 14430 to 29335 MT.
Currently The spread between OCT and NOV contract is -81 Rs/quintal.
GUARSEED stock in NCDEX accredited warehouse as on 10-Oct-2024, was 13846 MT
GuarGum contract for OCT delivery settled at Rs 11230/quintal showing an rise of Rs 265 over previous close of Rs 10965/quintal,The contract moved in the range of Rs 11024-11288 for the day. Open interest decreased by -2690 MT to 7230 MT, while trading volume increased by 1155 to 4900 MT.
GuarGum contract for NOV delivery settled at Rs 11358/quintal showing an rise of Rs 240 over previous close of Rs 11118/quintal,The contract moved in the range of Rs 11160-11430 for the day. Open interest increased by 2525 MT to 50345 MT, while trading volume increased by 7200 to 15215 MT.
Currently The spread between OCT and NOV contract is -128 Rs/quintal
GuarGum stock in NCDEX accredited warehouse as on 10-Oct-2024, was 22950 MT
(By Commoditiescontrol Bureau: +91 9820130172)
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