Guar seed and guar gum prices rise due to local demand at upper level.

Fresh demand was noticed at upper level was noticed. Guar seed and guar gum prices remained strong in physical and forward market due to local demand. Market is waiting for formation of new government and the prediction of monsoon for new crop.  Exporters and manufacturers are fulfilling their existing orders. Availability of the guar seed in market is sufficient as per the regular demand. Most of manufacturing plants are running for their existing demands only. Export demand of guar gum and guar splits are coming from Europe and China. 

Monsoon Predictions:

As per World Metrological Organization, the advance estimate for the South West Monsoon, it will remain above the normal during June-September 2024. If it will remain above the normal then crop will be good. For good quality crop, beside good rainfall there should be rainfall on regular interval. IMD will predict the arrival of Monsoon by end of May. The guar crop sowing will be start with arrival of monsoon. Normally monsoon activate in last week of June to first week of July in Guar Growing belt.

                        Guar seed and guar gum prices rise due to local demand at upper level.

Crude Oil Prices

During last week there was slightly pressure on crude oil prices due to increased inventories. India is buying crude oil from Russia. Today guar prices have strengthened with announcement of Saudi Arabia that Saudi Arab will cut production to control prices. Beside it, there is potential risk to increase the fresh conflict between Hamas and Israel. As Israel has asked to vacant the residents of Rafa city for the fresh military operations against Hamas. Today Brent crude oil is being traded at USD 82.96 / barrel, and WTI crude oil is being traded at USD 78.08/ barrel.  

Delivery of Poor Quality Guar Seed at NCDEX.

During last week, a news was emerged that buyer got delivery of poor quality guar seed from NCDEX accredited warehouse. Since NCDEX has defined quality standards and these standards are accepted by entire guar industry for best quality seeds. It seems that it was fault of WSP (warehouse service provider) and stock depositor. As per information this problem was noticed at warehouse of LTC Commercial Company Pvt. Ltd at Shri Ganga Nagar location. 

Current Guar Seed and Guar Gum Price Trend in Market.

Guar seed and Guar gum prices are strong in the local physical markets. Prices of Guar seed and Guar gum are quoted higher than Commodity exchange NCDEX. Future trading of Guar seed and Guar gum is also expected to strong poor due to local demand at current levels. Good quality of guar seed is traded at Rs 5500/100Kg and average quality guar seed is traded at Rs 5300/100 Kg. Standard quality guar gum is traded at Rs 10906/100 kg. In interior location, guar seed is traded up to 5000-5200/100 Kg. Guar seed is being traded strong in the future market. At NCDEX (National Commodity & Derivatives Exchange Ltd) guar seed-10MT is traded at Rs 5431, 5500 higher by 0.39 percent or Rs 21/100Kg, 0.36 percent or Rs 20/100 Kg with an open interest of 26940, 41225 for May and June month contracts.

Guar gum is also being traded strong in the future market. At NCDEX (National Commodity & Derivatives Exchange Ltd) guar gum-5MT is traded at Rs 10740, 10879 higher by 0.16 percent or Rs 17/100Kg, 0.16 percent or Rs 17/100 Kg with an open interest of 18555, 32290 for May and June month contracts.