Firm sentiments prevailed across major Spot markets of Rajasthan on Thursday on output concerns.
As on November 2, 2009, guar seed stock stood at around 24357 MT whereas 287 MT is in process and gum stock is 32279 MT and 1256 MT in process.
Fresh arrivals of Guar seed stood around 8000-9000 bags all over India. Whereas arrivals of old stocks were around 6000 bags.
With crude oil prices rising to $80 a barrel and Indian guargum making inroads into the European market, there is a good demand for guar. Due to this, the market has been moving continuously," said Mr Jeevan Gandhi, President of Indian Guar Gum Growers Association.
Guar production is currently estimated to be 35 lakh bags as compared to 85-90 lakh bags in the previous year.
Courtesy: Angel Commodities
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