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Bullish trend continues in guar complex as Biden factor increases hope for higher export

21 Jan 2021 8:51 pm
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NEW DELHI (Commodities control) Guar complex remained positive as downstream manufacturers were buying aggressively. Future contracts of guar gum and seed were also bullish which supported sentiments in spot market of Rajasthan, Haryana and Gujarat.


Today, guar gum trade increased to 1060 MT on strong demand from powder makers. There was hope for better demand for crude oil grade guar gum powder after change in US presidency. In NCDEX, guar gum contracts gained up to 3 percent on strong buying of investors. Guar seed contracts also increased around 2 percent.



Markets operators expected that new US president Joe Biden will discourage chemical usage in crude oil and gas exploration as per his new policy for climate protection. Cheaper chemicals mainly supplied by Chinese companies were main competitors of guar gum powder (fast hydration grade) in exploration activities in all over the world, specifically in US. It was expected that crude oil and gas companies will shift to guar gum so demand will pick up.



Guar gum powder makers were already active for buying guar gum split as they wanted to create sufficient stock for future demand. As per some reports, few gum powder makers already got some order for the same products. Today, 1060 MT guar gum split was traded in across the regions at prices of around Rs. 6260 per quintal in Jodhpur. It was traded at Rs. 40-50 lower than February guar gum contract at NCDEX.



As per market source, guar seed arrival was reducing so guar gum split millers were not getting sufficient supplies. Guar seed arrival was hovering below 20,000 bags per day. A trader from Jodhpur said that if guar gum powder demand from energy sector improves, there will be sharp price rise. Guar seed production was estimated at lower level than last year. So total availability will be limited till new crop in next October. Today, guar seed prices gained up to Rs. 50 per quintal in various markets. Guar gum split millers have also increased their buying prices.


Commodity

Type/Variety

21-Jan

20-Jan

Change

Jodhpur, Rajasthan

Guar Seed- Mill Gate

3850-3950

3850-3925

25

Guar Seed- Loose

3750-3800

3675-3750

50

Guar Gum Split

6260

6150

110

Guar Gum Powder

6000-7000 Viscosity (Drill Grade)

8350

8250

100

Guar Gum Powder

5000-6000 Viscosity (Food Grade)

7550

7450

100

Guar Korma

3975

4000

-25

Guar Meal (Choori)

2750

2750

0

Jaipur, Rajasthan

Guar Seed- Mill Gate

3800-3900

3800-3875

25

Guar Gum Split

6250

6150

100

Bikaner, Rajasthan

Guar Seed- Loose

3400-3801

3600-3795

6

Sriganganagar, Raj

Guar Seed-Loose

3571-3690

3475-3648

42

Rajkot, Gujarat

Guar Seed- Loose

3600-3700

3625-3700

0

Adampur, Haryana

Guar Seed-Loose

3600-3771

3600-3751

20

(By Commoditiescontrol Bureau: +91-22-40015505)


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