Guar seed and guar gum traded weak in local markets.

Prices of Guar seed and Guar gum are declining due to selling pressure at higher levels. Demand and supply are both stagnant at this moment. There is no demand for Guar seed and Guar gum at higher levels. The supply of guar is not going to change for the next 6-7 months. For the next 6-7 months, there will be no new arrivals of Guar seed. The arrival of monsoon will provide some predictions about the Guar seed supply. There will be a general election in India in May-June. Currently, there is no major business activity in the guar business. New investment will come after the general election and the formation of a new government. The new government will bring new policies and guidelines for international business and trade.

On 1st March 2024, an event on guar is being organized in Jaipur (Rajasthan). This event, "Guar International-2024," will be exclusively for guar industry stakeholders. The event will engage all stakeholders; some positive results will come out of this event. It will provide a clear picture of trade statistics, ideas about new uses of Guar gum, and new technologies in Guar gum extraction.

                                   Guar seed and guar gum traded weak in local markets.

Crude oil prices are recovering this month. Due to increased demand for crude oil from China and India, prices are recovering. At the current level of crude oil, we can't predict the higher demand for Guar gum from the oil and natural gas industry. Currently, Brent crude oil is being traded at 83.47 USD/barrel, and WTI crude oil is being traded at 79.19 USD/barrel. OPEC predicts higher demand for crude oil and better economic growth. According to Baker Hughes' global rig count data, there are 64 more active rigs internationally than the previous year this week.

Guar seed and Guar gum prices are declining in local physical markets. Prices of Guar seed and Guar gum are being quoted lower than commodity exchanges NCDEX. Future trading of Guar seed and Guar gum is also expected to decline due to no business at current price levels. Good quality Guar seed is traded at Rs 5200/100 kg, and average-quality Guar seed is traded at Rs 4800/100 kg. Standard quality Guar gum is traded at Rs 10200/100 kg. In interior locations, Guar seed is traded up to 4700-4800/100 kg. Guar seed is being traded strongly in the future market. At NCDEX (National Commodity & Derivatives Exchange Ltd), Guar seed-10MT is traded at Rs 5300, lower by 0.56 percent or Rs 30/100 kg, with an open interest of 25 for Feb month contracts.

Guar gum is also traded strongly in the future market. At NCDEX (National Commodity & Derivatives Exchange Ltd), Guar gum-5MT is traded at Rs 10340, lower by 0.41 percent or Rs 43/100 kg, with an open interest of 300 for Feb month contracts."