| Date: |
01-12-2010 |
| Subject: |
Guar Gains on Export Demand |
|
Guar futures settled slightly higher by Rs. 10 per qtl on export demand.
Exports of Guar and its by product which stood at around 2.10 lakh tonnes during the previous year is expected to rise in the current fiscal to around 2.5-2.6 lakh tonnes.
According to the Reuters poll, a reviving world economy and a preference shift to eco-friendly substitutes has seen a surge in demand for Indian guar gum from oil and gas companies that could push exports up 22 percent in 2010/11.
Fresh arrivals stood at around 1.4-1.5 lakh bags in the present week compared to 80 thousand bags in the preceding week. As the arrivals will gain momentum in the medium term (mid of December onwards) prices may be pressurized.
Source : commodityonline.com
|