Guar Gum Complex Turns To Positive On Optimism For Economic Recovery

NEW DELHI (Commodities control) Guar gum and seed prices recovered after steep fall in last couple of days. Spot markets of Rajasthan, Haryana and Gujarat followed future’s trend which gained up to one percent today. According to market experts, future markets improved today after indication for economic recovery which will lead to better demand for guar gum.

Downtrend in Gold prices indicated that global economy will recover from Corona crisis. It means that guar gum demand will also increase. Such optimism became a point where guar complex turned to positive tone. Guar gum and guar seed contracts gained up to one percent in NCDEX.

Such optimism raise the mood of spot markets of guar producing states. In Jodhpur, guar seed (Loose in Mandi) gained Rs. 50 per quintal while mill delivery prices also gained Rs. 20 per quintal. Guar gum and gum powder also rose Rs. 50 per quintal. However, Guar Choori fell down due to poor demand. Jaipur market also followed Jodhpur market.

But there was mixed trend in guar seed prices in mandis of the producing states. Guar seed fell down in Sriganganagar and Adampur but Gained in Rajkot and Bikaner. According to traders, local arrival and quality were key factors for price determination in producing mandis.