Mumbai Guar seed and guar gum futures extended yesterday's smart recovery of around two per cent and moved up marginally during initial hours of trade on the National Commodity and Derivatives Exchange [NCDEX] Tuesday as traders and speculators have resumed buying on the weakening of monsoon in major guar-growing areas in the country.

Spot guar prices surged higher at major physical markets Monday with the weakening of monsoon in major guar-growing areas in the country. As on August 29, demat stock of guar seed in NCDEX-monitored warehouse was 57,312 tonnes whereas 90 tonnes were in process. Demat stocks of guar gum were at 6,291 tonnes while zero tonne were in process. MCX-accredited warehouses were stacking up 30 tonnes of guar seed as of August 29.

NCDEX September guar seed opened up Rs eight at Rs 1,775/quintal, and tossed between Rs 1,773 and Rs 1,789/quintal. At 11.16 am IST, the contract traded up Rs nine at Rs 1,776/quintal with a volume 15,130 tonnes.

Benchmark November guar seed opened down Rs eight at Rs 1,837/quintal, and fluctuated between Rs 1,836 and Rs 1,855/quintal. At 11.16 am IST, the contract traded up Rs 11 at Rs 1,840/quintal with a volume of 75,780 tonnes.

NCDEX September guar gum opened up Rs 43 at Rs 4,424/quintal, and tossed between Rs 4,396 and Rs 4,425/quintal. At 11.10 am IST, the contract traded up Rs 29 at Rs 4,410/quintal with a volume of 185 tonnes.

Benchmark September guar gum opened up Rs 29 at Rs 4,546/quintal, and saw movement between Rs 4,530 and Rs 4,565/quintal. At 11.15 am IST, the contract traded up Rs 13 at Rs 4,530/quintal with a volume of 370 tonnes.