Guar is showing price rise continuously second day. Today’s rise is more than yesterday. Today guar gum has emerged stronger than guar seed. Guar gum is following the price rise of Crude oil.
Local Panchayat election has completed in Rajasthan. There was low business activity during winter and election time but now the business activity is increasing and demand has increased for short time.
Spot market is giving strong base to the future prices. As per export data there is no any major down fall in export of guar gum products in comparison to last year.
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Manual Harvesting of Guar ( Guar seed ) Gum crop. |
Manufacturer / traders / exporters are hopeful for price rise because in current time there are three basic fundamental which are strong. Number one: Price rise of Crude Oil, Second: guar supply time if moving toward off time and third: strong demand of by-product ( guar churi ). After one month Guar seed supply from farmer will almost stop due to arrival of new crop.
In physical market, supply of gaur seed is slow as per regular trend in this time.
MD of one of major Guar gum producer looks the downfall. He expects that guar may touch 3500 and Guar gum 7500 if the demand from O&N industry doesn't rise.
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