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MUMBAI (Comoditiescontrol) - There is no good news for Guarseed and Guargum, as recent export data showed that export of Guargum during January month dropped 8.58% at 40,174 metric tonne compared with 43,948 metric tonne same period a year ago, according to Agriculture & Processed Food Products Export Development Authority (APEDA).
Guargum export in the recent months was not in line with market expectations despite of rise in U.S rigs count during the last couple of months leading to sharp fall in its prices in the domestic market.
Guargum is used in fracking, a method of extracting shale gas that involves pumping pressurised gas into the ground. Guar-gum powder has unique binding, thickening and emulsifying qualities, which make it suitable for fracking.
Guargum futures prices in last one month lost more than 9%, while Guargum edged down by nearly 6% due to lackluster performance in export against ample supply in the country.
(By Commoditiescontrol Bureau; +91-22-40015533)
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