Mumbai - Widening sharp gains of the previous session, guar seed and guar gum futures opened sharply higher and traded with heavy gains amid continued heavy buying by traders and speculators during early hours of session on the National Commodity and Derivatives Exchange [NCDEX] Saturday. Guar futures are being contracted with heavy volumes since last couple of sessions. Speculators have shifted their interest to other commodities like guar after the FMC banned futures trading in four commodities, namely chana, rubber, soybean and potato.

Spot guar prices surged heavily at the main markets across Rajasthan Friday. Guar-seed sellers maintained distance from the markets in Haryana. Around 150-175 tonnes of guar gum was traded at Jodhpur market till afternoon.Meanwhile, in Haryana, sellers are staying away from the markets in Hissar, Adampur, Sirsa and Bhattu. Different markets across Haryana are having a total stock of nine lakh bags of guar seed. A number of mills in the State are facing huge crisis due to non-availability of guar seed.As on May 07, demat stock of guar seed in NCDEX-monitored warehouse was 56,869 tonnes whereas 120 tonnes were in process. Demat stocks of guar gum were at 6,270 tonnes while 60 tonnes were in process. MCX-accredited warehouses were stacking up 60 tonnes of guar seed as on May 07.

NCDEX May guar seed opened up Rs seven at Rs 1,860/quintal, and witnessed movement between Rs 1,856 and Rs 1,881/quintal. At 10.46 am IST, the contract traded up Rs 23 at Rs 1,876/quintal with a volume 6700 tonnes.

Benchmark NCDEX June guar seed opened up Rs four at Rs 1,896/quintal, and tossed in the range of Rs 1,887 and Rs 1,921/quintal. At 10.46 am IST, the contract traded up Rs 22 at Rs 1,914/quintal with a volume of 45,480 tonnes.

NCDEX May guar gum opened up Rs 44 at Rs 4,599/quintal, and saw movement between Rs 4,580 and Rs 4,599/quintal. At 10.36 am IST, the contract traded up Rs 25 at Rs 4,580/quintal with a volume of 20 tonnes.

Benchmark June guar gum opened up Rs 43 at Rs 4,682/quintal, and saw movement between Rs 4,670 and Rs 4,690/quintal. At 10.51 am IST, the contract traded up Rs 41 at Rs 4,680/quintal with a volume of 240 tonnes.