Overall fundamentals look
strong however with rising export demand amidst concerns on the
production front from the recent crop losses from excess rains in
Rajasthan a few weeks back. With prices at very high levels, markets
found some strong resistance. Prospects of rains in Rajasthan too
limited the uptrend for the commodity. Low stocks too supported
prices as markets shot up increased exports of guar during last year
have been encouraging due to increasing rig count in US.
Good export demand checks the
down moves meanwhile. As per reports from APEDA, improved export
demand of guar in quantity and monitory terms has been noted.
Seed Newsvine
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