Export of Guar Gum has increased by 12.42% in year 2021-22

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. 

Major portion of guargum is exported to USA and other destinations for oil and natural gas industry. Currently oil and natural gas industry is bullish to NATO -RUSSIA war. Oil prices are increasing due to poor supply of crude oil in market after the ban on Russian crude oil. Crude oil is being traded around USD 111.27 /Barrel.

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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.