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Bearish Tone Prevails In Guar Complex, But Hopes From Bidenís Decision

30 Jan 2021 7:33 pm
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NEW DELHI (Commodities control) Mixed trend recorded in guar complex today in spot market of Rajasthan, Haryana and Gujarat. Gaur gum and seed trade remained thin as it did not get direction from future market on week end. However, guar industry was looking toward uptrend in crude oil prices after recent decision of Biden administration.



Recently, US Administration has decided to ban drilling on federal lands in US. It may hit oil and gas drilling in rigs at offshore Gulf of Mexico. Guar industry sources expected that it will hit oil production which will lead to price rise. Guar gum industry was desperately looking for export demand of crude oil grade gum powder which is critical for price outlook. Experts feel haste to predict price movement due to decision of US administration. But it was clear that price rise will encourage oil companies for exploration. Gum powder is used for crude oil and gas exploration. Traders from guar gum and seed expect if crude oil price increases, guar complex turn to positive.



However, It remain bearish on Saturday. Gum millers have reduced seed buying prices by Rs. 25 to Rs. 3850-3925 per quintal in Jodhpur. Many mandis also registered lower prices in auction trading. But Srigananagar and Adampur mandis noted positive trend. Highest auction prices increased in these mandis.



Commodity

Type/Variety

30-Jan

29-Jan

Change

Jodhpur, Rajasthan

Guar Seed- Mill Gate

3850-3925

3850-3925

-25

Guar Seed- Loose

3700-3725

3700-3750

-25

Guar Gum Split

6150

6150

0

Guar Gum Powder

6000-7000 Viscosity (Drill Grade)

8250

8250

0

Guar Gum Powder

5000-6000 Viscosity (Food Grade)

7450

7450

0

Guar Korma

3950

3950

0

Guar Meal (Choori)

2725

2725

0

Jaipur, Rajasthan

Guar Seed- Mill Gate

3775-3850

3775-3850

0

Guar Gum Split

6150

6150

0

Bikaner, Rajasthan

Guar Seed- Loose

3700-3760

3700-3790

-30

Sriganganagar, Raj

Guar Seed-Loose

3500-3684

3481-3669

15

Rajkot, Gujarat

Guar Seed- Loose

3500-3625

3550-3650

-25

Adampur, Haryana

Guar Seed-Loose

3600-3737

3600-3732

5

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


       
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