January contract of guar gum in Forward market NCDEX
is closing with 10 % return. January contract of guar gum was traded at Rs
8200/100Kg within four months guar
gum contract gave a return of Rs 1000/100 Kg. In same trend guar seed contract was traded at
Rs 3700/ 100 Kg and now guar seed
is being traded at Rs 4300/100 kg., within 4 months guar seed January contract has gave 13 % return.
Shale crude oil
production is increasing in USA . In tight geopolitics, crude oil prices are expected to
increase further. OPEC countries has cut down their production. As per another
estimate crude oil prices will keep rising in year 2018.
Farmers need not to worry for current guar seed price and guar gum price. Full demand of guar gum from crude oil industry will take time to reach with Indian guar gum exporters. As per millers’ buyers are not giving guar gum powder orders in expectations of lower prices. By end of January guar gum demand will start to arrive with local guar gum processors or guar gum exporter. Prices of guar seed is above Rs 4300/ 100 Kg in local market, it is very positive fact.
Govt of India is also opening oil drilling blocks. Tenders
have been issued for 51 oil blocks. Primary formalities have been completed.
Except export demand, domestic demand
of guar gum will also increase. Due to increase in prices of crude oil
demand of guar gum will also
increase from other countries like China, Russia, Europe except USA. As per
market men speculators are trying to catch the guar seed and guar gum market by making the
selling pressure.
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