Last Updated : 17 March 2012 at 11:05 IST
India Guar complex Review: guar gum, guar seed prices shot up on lower arrivals
India’s guar complex prices rose to whopping heights on lower arrivals amid high demand from food sector, oil companies etc. The guar seed prices rose to 15.31% to Rs 25,370 per qtl from Rs 22,000 per qtl and guar gum up 15.76% to Rs 80,690 per qtl from Rs 69,700 per qtl during the last week period (9th March to 16th March 2012).
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MUMBAI (Commodity Online): India’s guar complex prices rose to whopping heights on lower arrivals amid high demand from food sector, oil companies etc. The guar seed prices rose to 15.31% to Rs 25,370 per qtl from Rs 22,000 per qtl and guar gum up 15.76% to Rs 80,690 per qtl from Rs 69,700 per qtl during the last week period (9th March to 16th March 2012).
Even though Forward Market Commision took various measures to control the prices rise but the commodities continued to rally higher mainly on the back of high overseas and domestic demand.
According to analysts, the prices are expected to stay high until fresh arrivals reach Market and the next arrival is expected reach by around September.
India being the only supplier of Guar gum to the global markets accounting for 80% of the global exports, Indian exporters has monopoly in deciding the price trend.
Meanwhile, the exports of guar gum from April to November 2011 stood at 6.7 lakh tons showing a rise of 194% compared to 2.28 lakh tons during a year ago.
India’s total guar seed production is estimated at 16 lakh tons for 2011-12.
Guar gum finds wide applications in the field of textile, paper, medicines, cosmetics, mining, explosives, food etc.
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