Bearish Trend Continues In Guar Gum, Seed Despite Lower Arrival In Mandis

NEW DELHI (Commodities control) Bearish trend continued in guar complex in spot market of Rajasthan, Haryana and Gujarat. Gaur seed prices dropped further in majority of mandis during auction trading. Guar gum split, powder and guar korma also slipped down due to poor demand and negative sentiments.

Guar seed prices fell down up to Rs. 25 per quintal in majority of mandis. Millers and stockists were discouraged from poor demand of gum and powder. Bearish trend prevailed despite the fact that guar seed arrival was reducing in all the region. Total daily arrival came to around 20,000 bags from peak of 50,000 bags. Sriganganagar based trader Mr. Sushil Sharma said that daily arrival was reducing. Current arrival may not be enough to meet the demand of millers. He expects price rise in guar seed but current bearish demand of guar gum was not supporting market sentiments.

Traders count crude oil rigs in US and Canada to assess guar gum powder (Fast Hydration grade) demand. But gum powder demand was illusive till now. Down trend in guar korma also indicated bearish scenario from global market. guar korma slipped to Rs. 3975 per quintal in Jodhpur.