Guar seed Futures after trading weak in the last few trading session bounced back from the support levels and settled 0.26% higher on Thursday. However, commencement of fresh arrivals shortly might cap sharp gains.
There are reports that higher prices of Guar gum have made users to think for other alternative cheaper sources of gum for Oil exploration. Fresh arrivals are expected to gain momentum by the end of October. Subdued overseas demand and fresh arrivals are expected to further pressurize prices.
The area under Guar cultivation in Rajasthan this season stands at 2.9 million hectares, compared to 3 million hectares last season. In Haryana the area under Guar has come down from 256,000 hectares registered last year to 215,000 hectares this year. (Source: Business Standard)
Production & Exports
There are unconfirmed reports that Guar seed output may be revised downward from the earlier estimates due to unfavorable climate during the last 2 weeks in the Guar growing belts of Rajasthan.
According to the first advance estimates, Guar seed output in Rajasthan is estimated at 11.36 lakh tonnes for 2011-12 season compared to 15.46 lakh tonnes in 2010-11. Production of Guar in Haryana and Gujarat is expected to be 0.2 lakh tonnes and 0.065 lakh tonnes respectively in 2011-12.
According to Agriculture and Processed Food Products Export Development Authority, Indian Guar gum exports for the period April- March 2010-11 surged by 84% and stood at 4,03,007 tonnes as compared to 2,18,473 tonnes during the last year.
In the FY 2011-12 export demand of Guar gum continued to remain higher with exports of 30,816 tonnes in the month of April 2011, up 51 % as compared with 20,376 tonnes in 2010-11 season.
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Guar Seed Settles Higher on Fresh Buying
Published 10/21/2011, 09:27 AM
Updated 05/14/2017, 06:45 AM
Guar Seed Settles Higher on Fresh Buying
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