As per export data provided by the “Agricultural and Processed Food Products Export Development Authority”(APEDA) for the period of April-2021 to January -2022, guar gum export has Increased by 12.42% or 29,187 MT, from 2,34,871MT in year 2020-21 to 2,64,058 MT in current year 2021-22 for the same period. Increasing export of guar gum and other guar products are good for guar growing farmers and whole guar gum industry. Guar is a very special agriculture crop, guar gum is processed product derived from guar crop it is used in various industries from food, pharmaceuticals, to drilling and fracking chemical.
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| Export of Guar Gum has increased by 12.42% in year 2021-22 |
For the current year
there will be two basis factors which will support the higher prices of guar
price, first factor will be lower production and second factor will be
increased export of guar gum and guar products. European countries are planning
to switch from Russian Crude oil and natural gas.
Oil rig count is
decreasing in USA. As per Baker Hudges
oil rig count currently 693 oil rig are active in USA which is 254 higher than
previous year oil rig count during same period. Increasing oil rig count and
drilling activities is a positive news for the indian guar gum industry. Global
demand of crude oil will boost the oil prices and that will lead to increase in
new oil drilling activities in USA.
As on today NCDEX guar seed price is INR 6364/Quintal for 20th May contract. NCDEX spot price is INR 6350/Quintal. NCDEX guar gum price is INR 12452/Quintal for 20th May contract. NCDEX spot price is INR 12400/Quintal. In local physical markets (Mandi) guar seed prices is INR 6200/Quintal and guar gum prices is INR 12500/Quintal.
