Guar Seed & Guar Gum traded strong due to adverse climatic conditions to guar farming

INDIA ( - Guar Seed and Guar gum traded strong in Jodhpur market after adverse climatic conditions to guar cultivation and poor predictions of arrival of rainfall. Strong buying is noticed in physicals markets at higher prices. Climatic conditions are very poor in guar growing belt. No major rainfall has arrived in this region since last 3-4 weeks. The crop is showing the moisture stress conditions. If there will be no rainfall in next on- two week then then crop will almost damage on large guar cultivation area 

In Jodhpur market Guar Seed is traded at Rs 6,200/100 kg higher on last closing and Guar gum is traded at Rs 13,250/100 kg higher on last closing.

Guar Seed & Guar Gum traded strong due to adverse climatic conditions to guar farming

Good quality of Guar Seed is traded at Rs 6,300/100Kg and average quality Guar Seed is traded at Rs 6,150/100 Kg. Standard quality Guar gum is traded at Rs 13250/100 kg. In interior location Guar is traded up to 5,800/100 Kg.  

Guar gum and guar seed are traded strong in forward market. At NCDEX (National Commodity & Derivatives Exchange Ltd) Guar gum is traded at Rs 12708, 12955 higher by 0.66% or Rs 122/100Kg, 0.89% of Rs 115/100 Kg with open interest of 30730, 27400 for September and October contracts. Guar Seed is being traded at Rs 6159, 6292 higher by 0.67% or INR 41/100 Kg, 0.73% or INR 46/100Kg, with open interest of 55370, 41405 for September and October contracts.

There are also predictions of gain in crude oil prices. Crude oil prices are being traded at upper side during last trading session after the U.S. Energy Information Administration predicted the decline in inventory of more than 10.5 Million Barrels for the last week of August, 2023. Crude oil is being traded at USD 85.5/Barrel.