Thursday, February 22, 2024

Export demand of Guar Gum is expected rise as crude oil is at three year’s highest level

Guar and guar gum are getting support from increasing crude oil prices in expectation of heavy demand in future.

In a cycle to 9-10-year Guar gives good return to farmers in this region. Last time Guar gave good return in year 2012 guar price were at highest point. Guar gum prices were trying to compete with Gold. This region enjoyed money directly from oil and natural gas industry due to sky rock guar prices and guar gum prices. Ncdex guar and guar gum prices were also hitting upper side. Govt banned trading of guar and guar gum in future markets. FMC delisted guar and guar gum from future markets.

During last two three years oil and natural industry was under heavy pressure and prices hit the lower level. Conditions have changed this year. Oil is improving, and prices are at upper level after 2015. Today Brent crude oil is being traded above USD 69/ barrel. Hope fully with in one or two days it will cross USD 70/ Barrel, which is not a impossible figure. Though open will try to increase the production so that prices of Guar should remain under USD 70/ barrel. If the prices of crude oil go beyond USD 70/ barrel, then USA crude oil production will attract huge investment. OPEC doesn’t want that USD crude oil to attract investment.



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