MUMBAI (Commodity Online): Guar futures are seen unchanged in the morning trade on Tuesday and sidelined with positives channel on the NCDEX counter.
However, guar seed prices climbed up in morning trade in various Rajasthan markets as gum mills bought more due to export enquiries from the U.S. and Europe and worries the crop output may be lower.
NCDEX guar seed February delivery placed at Rs 2641 a quintal. November contract trades up at Rs 2514 per quintal and December contract stood up at Rs 2563 per quintal.
According to trade estimates, 2009-10 crop years’ production is estimated at 1.5 million bags of 100 kg each in Rajasthan compared with 6 million bags a year ago.
Trade commodities or equities from across the globe. Join NowGuar seed opened Rs 25 per 100 kg higher than previous close in Jodhpur and Bikaner and by Rs 50 in Jaipur. Guar gum was quoted at Rs 5,240-5,250 per 100 kg, a gain of Rs 40 over previous close.
As expected, Guarseed futures also rose on Saturday by 1.22% at 2487 rupees. Lower acreage and unfavorable weather condition is resulting into lower production of guar seed in the current year.
Spot markets are witnessing an average daily arrival of 25,000-30,000 bags against normal arrivals of 80,000 bags. Spot price is quoting in the range of Rs2460-2500 per quintal due to strong demand from gum industries.
Till now the arrivals were remaining subdued in the major markets of Rajasthan, slowly the harvesting is getting pace and hence increased arrivals led to the downfall in guar seed prices.
