Futures contracts of guar gum rose nearly 1% on NCDEX today due to concerns over crop damage because of recent heavy rains in west Rajasthan. Jodhpur, Barmer and Bikaner, the major guar-growing districts in west Rajasthan, have received heavy rains of late. In the week-ended Wednesday,the region received 103% above normal rains at 238.8 mm, according to data from India Meteorological Department. The recent rise in crude oil prices also supported contracts of guar gum. The commodity is used as a fracking agent in the exploration of crude oil.
Source : Newswire
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