Guar Seed, Gum Extend Losses As Entire Complex Faces Weak Demand

New Delhi (Commodities Control) Sharp down fall noted in guar seed in auction trading in mandis of Rajasthan, Gujarat and Haryana. Poor demand from Millers and stockists caused for down fall of up to Rs. 80 per quintal in various mandis. Guar gum prices also fell down by Rs. 50 per quintal in Jodhpur. Down ward trend in futures also put pressure in spot trading. Guar gum and seed prices were decreasing for last couple of days due to weak sentiments.

According to a broker from Jodhpur, entire guar complex was facing very weak demand. Guar gum powder makers were uncertain for demand so they were reluctant for gum buying. Poor offtake of gum powder makers sent negative indication to guar gum millers. They were forced to reduce their prices to attract buyers. Guar gum prices came down by Rs. 50 to Rs. 6100 per quintal in Jodhpur. Guar gum powder also fell down by Rs. 50 per quintal. Guar meal (Choori) also fell down by Rs. 50 per quintal.

Gum millers and stockists were reluctant for fresh buying of guar seed. Bikaner mandis recorded loss of Rs. 80 to 3600-3771 per quintal in auction trading of guar seed. The prices came down by Rs. 63 in Sriganganagar, Rs. 50 in Rajkot and Rs. 20 per quintal in Adampur. Guar gum and seed traders were desperately waiting for gum powder demand from foreign market but current uncertain economic conditions are not supportive.