Guar gum and guar seed futures on NCDEX rose today in line with the trend in spot markets, where prices gained due to weather concerns. On NCDEX, the October guar gum contract was up 1.08% at 8,176 rupees per 100 kg and the same-month guar seed contract was up 1.61% at 3,919 rupees. In the benchmark market of Bikaner in Jaipur, prices of guar seed were at 3,800 rupees, up 40 rupees from previous close. Guar gum prices were at 8,150 rupees, up 50 rupees from Wednesday. Prices have risen as key guar growing areas in west Rajasthan received 77% below normal rains during Aug 10-16, according to data from India Meteorological Department. However, gains may be capped going ahead because of forecast of rains in the region.
Source : Newswire
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