AHMEDABAD (Commodity Online): In the wake of request from Federation of Indian Export Organisations to withdraw export promotion incentives and impose export duty on Guar seeds, Future prices traded bearish in future market today on NCDEX. Guar gum also remained negative. Guar seed and Guar gum are expected to fall in short run on NCDEX if export duty is imposed. In Jodhpur market, prices have remained weak in last 2 days.
“Range for Guar is from 4240 to 4630 for short run,” said Anil Patadia, Commodity Analyst with Commodity Online.
Fundamentally Guar is moderate to strong on good export demand this year. Production and supply both have increased this year compare to previous year.
“Selling may drag December contract price down till 4300 in short run,” said Patadia.
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