Price Fall Continues In Guar Complex; Poor Exports, Economic Worries Key Factors

NEW DELHI (Commodities control) Downward price trend continued today in guar complex in spot markets of Rajasthan, Haryana and Gujarat. Economic worries and weak export demand remained key factors for the depression. In futures market (NCDEX), guar seed contracts lost up to 2.67 percent (up to Rs. 109 per quintal) due to heavy selling pressure.

Guar gum lost Rs. 100 per quintal in Jodhpur. It traded at around Rs. 6050 per quintal. Guar gum powder also slipped Rs. 100 per quintal. Guar seed witnessed price fall of up to Rs. 80 per quintal. The seed traded at Rs. 3750-3850 per quintal (Mill Delivery) in Jodhpur. Auction prices lowered by Rs. 80 per quintal in mandis. The seed was auctioned below Rs. 3800 per quintal at most of the mandis.

According to market participants, poor export demand and economic worries weigh on guar prices. In October, guar gum powder exports dropped to 13,567 MT. While total guar gum and other products export was 19,507 MT. Data reveals that total export halved to 129,480 MT in first seven months of current FY 2020-21. India had exported 249,699 MT guar products in same period of last year.