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Guar seed, Gum prices jump on slow sowing in Rajasthan

2 Aug 2021 4:46 pm
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Bikaner/Jodhpur/Sriganganagar, 2 August (Commoditiescontrol) Guar seed and gum prices rallied sharply in the spot and future market due to slow sowing in Rajasthan, the largest guar growing state in the country. Guar seed and gum prices rose over 5 percent at local bourse today tracking firmer cues from the spot market.

Major guar growing areas of the state, namely, Sriganganagar, Barmer and some other distracts are facing with the draught, said Shripal Sharma, a farmer from Sriganganagar in Rajasthan.



At Ganganagar, guarseed prices were quoted at Rs 4400 per 100kg while it was priced at Rs 4,420-30 per 100kg at Bikaner today, said the trade sources.


In the benchmark market of Jodhpur, guar gum prices were quoted Rs 50 lower than the price of August contract of gum on the NCDEX. However, guar gum prices in Haryana and Gujarat were up from the prices of futures by Rs 50 and Rs 100 respectively.


At National Commodity and Derivatives Exchange (NCDEX), Guargum for August Delivery was Rs 376 or 5.51 percent higher at Rs 7,200 per 100kg after touching high of the session at Rs 7,232 per 100kg.


Guar seed futures for delivery in August was trading Rs 221 or 50.05 percent higher at Rs 4,601 per 100kg after touching high of the session at Rs 4,610 per 100kg.



Area under guar seed in Rajasthan was nearly 15.18 lakh hectares as on July 30, 2021, against 15.86 lakh hectares in the same point of time last year. The current acreage of guar seed in Rajasthan is 58.38 percent of the target for the season.


(By Commoditiescontrol Bureau: +91-22-40015505)


       
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