Current Market Developments:
- Currently, Guar seed prices have declined in domestic spot markets tracking subdued demand and profit booking at higher levels.
- Guar seed prices are quoted around Rs 4,900 per quintal to Rs 5,275 per quintal in spot markets.
- Good demand is seen in Guar gum exports from US, Russia, China and Germany but prices have remained range bound and quoted around Rs 9,800 to Rs 9,900 per quintal.
- In spot markets of Gujarat and Rajasthan demand from traders and stockiest have remained subdued. Moreover, the forecast of normal to above normal monsoon 2022 by IMD has also kept pressure on prices.
- Guar gum fundaments are strong as crude oil prices has remained high. Guar gum exports are rising from India and in the month of May 2022 exports increased by 6 percent at 33,095 tonnes. Between October to May 2022 Guar gum exports increased by 12 percent at 2 lakh tonnes as compared to 1.79 lakh tonnes same period last year.
- The acreage under Guar as on 30th June 2022 increased significantly by 80 percent in Rajasthan at 4,74,640 hectares as compared to 2,62,710 hectares same period last year, this has kept pressure on the Guar gum and seed prices.
- Currently, guar seed and guar gum prices are steady but if monsoon rain in key guar growing belts of Gujarat and Rajasthan remains low than prices will strengthen. So, lot will depend on the progress and distribution of south-west monsoon rainfall.
Guar Seed Price Trend Vs Seasonality at Key Markets
Guar Seed Area, Production and Yield: India & Major States
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