Guar Gum export to Russia will be come down due to weak Rubal

Guar Gum export to Russia will be come down due to weak Rubal 

Russia is third major importer of Indian Guar Gum after US and China . We may see a straight downfall in export of guar Gum to Russia due to weak Russian Currency ( Rubal ). As Russian Currency ( Rubal) has touched the lowest point against USD during this month..

As per a local businessman, who is dealing with Russia for Guar Gum export, is saying that in the current  quarter of curent financial year  ( October November and December), there will be  30 % low export.

As per his view there is more chances that India will lose the order of guar gum from Russia due to weak Russian Currency ( Rubal).

Guar seed /guar gum crop cultivation : Newly Harvested Crop after threshing.

Russia supplies Gas and Oil to Europe, Russia has hit from double side  Low prices of Oil and Low valuation of Russian Currency.  At another side Western Countries and Europe has put a lot of economic sanctions on Russia on the issue of Crimea. After that export or Russia to European countries has come down.

Mostly Guar Gum is used  in O&NG industry but due to low prices of oil and gas will affect the new drilling and this will lead to low demand of Guar gum.