New Delhi, December 03 (Commodities Control): The guar gum spot market has shown steady activity, with prices maintaining a stable range despite global market fluctuations. As the demand for guar gum from the oil and gas sector remains robust, particularly for hydraulic fracturing processes, the market continues to see moderate price movements.
Guar gum prices have experienced slight upward pressure in recent weeks, driven by increased demand from key industries such as pharmaceuticals, food, and textiles. However, prices have yet to reach previous highs, with fluctuations largely attributed to supply chain dynamics, weather conditions in major producing regions, and shifting demand from international markets.
The demand for guar gum in industrial applications such as shale oil extraction continues to be a key driver. Meanwhile, food-grade guar gum is seeing steady demand from the food and beverage industry due to its use as a stabilizer and thickener. Pharmaceutical applications are also contributing to stable market performance.
Looking ahead, the guar gum market is expected to maintain a balanced outlook, with potential for moderate price increases driven by ongoing demand in the oil sector and other industrial applications.
GuarGum contract for DEC delivery settled at Rs 10032/quintal showing an rise of Rs 22 over previous close of Rs 10010/quintal,The contract moved in the range of Rs 9911-10045 for the day. Open interest decreased by -1485 MT to 24735 MT, while trading volume decreased by -3170 to 4515 MT.
GuarGum contract for JAN delivery settled at Rs 10170/quintal showing an rise of Rs 17 over previous close of Rs 10153/quintal,The contract moved in the range of Rs 10050-10195 for the day. Open interest increased by 2060 MT to 34900 MT, while trading volume decreased by -1460 to 6195 MT.
Currently The spread between DEC and JAN contract is -138 Rs/quintal.
GuarGum stock in NCDEX accredited warehouse as on 03-Dec-2024, was 27737 MT
(By Commoditiescontrol Bureau; +91 98201 3018)
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