Mumbai, November 13 (CommoditiesControl): The spot prices for guar seed and guar gum have recently experienced a significant rally. Guar gum prices surged over 5% on the NCDEX to reach a seven-month high, with December futures trading at approximately ₹13,017 per 10 quintals. Guar seed prices also climbed, reaching ₹6,029 per 10 quintals, marking a six-month peak.
This rise is attributed to limited supply from production areas, as well as a seasonal increase in demand. Speculators have also been widening their positions, anticipating continued upward pressure on prices in the near term due to these tight market conditions.
Given the supply-demand trends, market analysts expect some continued strength in both guar seed and guar gum spot prices over the short term.
GuarSeed contract for NOV delivery settled at Rs 5141/quintal showing an rise of Rs 71 over previous close of Rs 5070/quintal,The contract moved in the range of Rs 5040-5157 for the day. Open interest decreased by -4080 MT to 10300 MT, while trading volume increased by 630 to 9170 MT.
GuarSeed contract for DEC delivery settled at Rs 5230/quintal showing an rise of Rs 63 over previous close of Rs 5167/quintal,The contract moved in the range of Rs 5135-5250 for the day. Open interest increased by 4250 MT to 54020 MT, while trading volume increased by 5005 to 27015 MT.
Currently The spread between NOV and DEC contract is -89 Rs/quintal.
GUARSEED stock in NCDEX accredited warehouse as on 13-Nov-2024, was 9662 MT
GuarGum contract for NOV delivery settled at Rs 10390/quintal showing an rise of Rs 163 over previous close of Rs 10227/quintal,The contract moved in the range of Rs 10090-10586 for the day. Open interest decreased by -2870 MT to 2615 MT, while trading volume increased by 130 to 5100 MT.
GuarGum contract for DEC delivery settled at Rs 10520/quintal showing an rise of Rs 152 over previous close of Rs 10368/quintal,The contract moved in the range of Rs 10253-10600 for the day. Open interest increased by 2730 MT to 54465 MT, while trading volume increased by 2850 to 12945 MT.
Currently The spread between NOV and DEC contract is -130 Rs/quintal.
GuarGum stock in NCDEX accredited warehouse as on 13-Nov-2024, was 25301 MT
(By Commoditiescontrol Bureau: +91 9820130172)
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