Spot Guar Gum, Seed Prices Gain Further As Futures Raised Market Sentiments

NEW DELHI (Commodities control) Guar gum and seed prices gained further in spot market of Rajasthan, Gujarat and Haryana. Spot demand was better for gum and seed as future market also supported uptrend. Guar gum and seed contracts also increased up to one percent on better buying from investors.

Guar gum prices gained Rs. 30 to Rs. 6100 per quintal in Jodhpur. Guar gum powder also prices higher. According to traders, gum powder makers were buying guar gum split as they expect better export orders in further months. They expected that environment friendly policies of the US government led to higher buying of guar gum powder from oil and gas exploration companies. Guar seed prices also increased in spot market. Gum millers came ahead for fresh buying as they were getting encouraging demand from gum powder makers. Gum millers have increased seed buying prices by Rs. 20 to Rs. 3850-3870 per quintal. Mandis also noted higher prices in auction trading due to better buying. Guar seed increased in Adampur, Rajkot and Sriganganagar mandis.