Jodhpur, June 23 (Commoditiescontrol): Guar seed and gum prices remained almost steady in the physical market on Monday amid normal trading activities. However, futures settled firm due to expectations of a lower area under guar crop cultivation. Market experts suggest that farmers might shift to other kharif crops such as Bajra, moth, and moong.
According to market sources, the average price range for guar seed in auctions was quoted at Rs 5,000-5,200 per quintal. In all paid transactions, guar seed prices were slightly lower, quoted at Rs 5,400 per quintal. Guar gum prices remained flat at Rs 10,650 per quintal in Jodhpur, the benchmark market. Arrivals were reported at 8,200 bags.
In the futures market, guar gum for July delivery ended Rs 53 or 0.50% higher at Rs 10,647 per quintal on the NCDEX, with the session's low and high at Rs 10,565 and Rs 10,670 respectively. Guar seed futures for July delivery settled Rs 36 or 0.67% higher at Rs 5,429 per quintal, with the session's low and high at Rs 5,391 and Rs 5,448 respectively.
The steady spot prices and firm futures indicate a balanced market with cautious optimism due to anticipated changes in crop patterns and ongoing demand dynamics.
GuarSeed contract for JUL delivery settled at Rs 5429/quintal showing an rise of Rs 36 over previous close of Rs 5393/quintal,The contract moved in the range of Rs 5391-5448 for the day. Open interest decreased by -2480 MT to 46410 MT, while trading volume decreased by -5395 to 8535 MT.
GuarSeed contract for AUG delivery settled at Rs 5495/quintal showing an rise of Rs 42 over previous close of Rs 5453/quintal,The contract moved in the range of Rs 5456-5509 for the day. Open interest increased by 2605 MT to 10495 MT, while trading volume increased by 1105 to 3575 MT.
Currently The spread between JUL and AUG contract is -66 Rs/quintal
GUARSEED stock in NCDEX accredited warehouse as on 24-Jun-2024, was 20814 MT
GuarGum contract for JUL delivery settled at Rs 10647/quintal showing an rise of Rs 53 over previous close of Rs 10594/quintal,The contract moved in the range of Rs 10565-10670 for the day. Open interest decreased by -1345 MT to 42620 MT, while trading volume decreased by -1800 to 4755 MT.
GuarGum contract for AUG delivery settled at Rs 10785/quintal showing an rise of Rs 54 over previous close of Rs 10731/quintal,The contract moved in the range of Rs 10714-10810 for the day. Open interest increased by 2305 MT to 9230 MT, while trading volume decreased by -130 to 2920 MT.
Currently The spread between JUL and AUG contract is -138 Rs/quintal.
GuarGum stock in NCDEX accredited warehouse as on 24-Jun-2024, was 22680 MT
(By Commoditiescontrol Bureau: +91 9820130172)
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