Guar Seed and Guar Gum prices declined, due to profit booking at upper level.

Guar Seed and Guar Gum prices declined, due to profit booking at upper level.

Guar seed and Guar gum prices were quoted lower than last closing due to profit booking at upper level. Prices remained under pressure of profit booking for entire day. Since morning prices did not recover. Prices kept declining due to selling pressure. The selling pressure was also seen in the local market. Prices were quoted lower in local physical markets.  

Export demand of guar is not picking due to lower demand form the oil and natural gas industry. Oil and Natural Gas industry is leading demand generating industry. Slowly and slowly demand is generated from other industries also. New R&D is being set up and use of guar gum in increasing. Food Industry will emerge as next buyer of guar gum powder. Application of guar gum in Food industry is increasing. Before 4-5 years guar gum was not available in retail packing for the end customer. Today thousands of products of guar gum are available in retail packing for end customer use. Due to its health benefit property. guar gum is used as food supplement in different form.

                   Guar Seed and Guar Gum prices declined, due to profit booking at upper level.

Guar cattle feed / guar korma churi is Methane-reducing cattle feed supplement. That is good for the climate and animal health. Guar korma / Churi is good source of the digestive protein. Guar korma is balanced nutrition source for the chicken fee, cattle feel, fish meal, animal feed. There is around 35-50% protein content in Guar Churi Korma.

Due to increased supply and stagnant demand currently crude oil prices are also not so strong. High demand of guar gum from oil and natural gas cannot be predicated at this current price level. Currently Brent crude oil is being traded are 77.33 USD/Barrel, and WTI crude oil is being traded at 72.28 USD/barrel. OPEC is trying to capture its position in world crude oil market. OPEC owned OPEC Fund is investing USD 1.7 Billion for international development in global climate change and energy transition. As per Baker Hudges global rig counts data there are 64 more active rigs count then previous year in this week USA.

Guar seed and guar gum prices are weak in the local physical markets. Prices of Guar seed and guar gum are quoted lower than Commodity exchanges NCDEX. Future trading of Guar seed and guar gum is also expected to remain stable due to stagnant business at current price level. Good quality of Guar seed is traded at Rs 5300/100Kg and average quality Guar seed is traded at Rs 5000/100 Kg. Standard quality guar gum is traded at Rs 10200/100 kg. In interior location, Guar seed is traded up to 4700-4800/100 Kg. Guar seed is being traded weak in the future market. At NCDEX (National Commodity & Derivatives Exchange Ltd) Guar seed-10MT is traded at Rs 5290, 5348 lower by 1.34 percent or Rs 72/100Kg, 1.31 percent or Rs 71/100 Kg with an open interest of 43055, 49595 for Feb and March month contracts. 

guar gum is also traded strong in the future market. At NCDEX (National Commodity & Derivatives Exchange Ltd) guar gum- 5MT is traded at Rs 10075, 10243, 10389 lower by 1.40 percent or Rs 143/100Kg, 1.42 percent or Rs 148/100 Kg, 1.66 percent or Rs 175/100 Kg with an open interest of 24855, 33085, 140 for Feb, March and April month contracts.