| Date: |
22-05-2010 |
| Subject: |
India guar ends higher on exporters buying |
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MUMBAI, May 21 (Reuters) - India's guar seed futures ended higher on Friday on decent demand of guar gum from exporters and negligible arrivals, analysts said.
"Outlook is bullish. Stocks have come down significantly Export demand is good. Any downside in guar will be short lived," said an exporter based in Mumbai.
India's monsoon rains are forecast to be normal at 98 percent of the long average period. The weather department is expecting monsoon to arrive in the south-western state of Kerala by end-May. See [ID:nSGE64H0BW]
Forecast of normal monsoon, however limited the upside, analysts said.
Guar seed is a rain-fed crop and normal monsoon may boost the sowing of the crop, traders said.
In the Jodhpur spot market, guar seed gained 17 rupees to end at 2,325 rupees per 100 kg.
Source : REUTERS
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