For the Fourth Quarter of 2021
In the second week of December, its futures fell in tandem with crude oil futures prices. The December futures were traded at 10,110 USD, down 2.54% from the previous close of 10,373 USD on the National Commodities and Derivatives Exchange (NCDEX). Because guar gum is utilised in oil extraction, its price drops as crude oil prices decline.
For First, Second and Third Quarters of 2021
Guar gum prices declined by 59 INR to 6,137 INR/five quintal in the last week of January, as dealers offloaded their positions in response to a negative trend in the spot market. The prices in February dropped by 59 INR, or 0.95%, to 6,137 INR/five quintal on the National Commodity and Derivatives Exchange.
Guar gum prices rose about 20% in August, driven by demand for guar meal from the poultry and animal feed industries, as well as concerns about a reduction in crop yield due to a lack of rain in western Rajasthan, the key growing region for guar seeds.
September futures price declined 517 INR to 9,080 INR/five quintal, as dealers sold their positions in response to the negative spot market trend.
For the Year 2020
Throughout 2020, guar split price was stable with little fluctuations. The price volatility was caused by speculation about the crop size for this year's Kharif season, crude oil prices, the international demand situation, and the supply of guar in local markets based on the arrival of the fresh crop from this season. In October, the average price was 62.125 INR/kg (0.854 USD/kg). Guar gum prices were erratic due to their reliance on exports. The prices had been relatively steady in the range of 53-68 INR/kg since June 2020. Because the area sown under guar during the 2020 kharif season was lower than the previous year, and as farmers chose cultivating other crops because prices were lower, new guar crop production was predicted to be lower than the previous year's crop. In addition, the industry had a large carry forward stock. Guar Gum is primarily used by the oil drilling sector, which had been severely impacted by the pandemic. As a result, natural gums were used in a wide range of food applications.
Procurement Resource provides latest prices of Guar Gum. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.
Procurement Resource provides prices of Guar Gum for several regions around the globe, which are as follows:
About Guar Gum:
Guar Gum, a galactomannan polysaccharide, is a free-flowing off-white powder produced from guar beans. It is the ground endosperm of the guar plant seed. It has thickening, nongelling, and stabilising properties, which make it suitable for use in food, feed, and industrial applications. It serves as a versatile polymer in the food industry and is added to food products, such as ice cream, milk shakes, yogurt, and aerated desserts, among others. As guar has more galactose branch points, it is relatively more water-soluble than other gums, and acts as a better emulsifier.
In order to produce Guar Gum, the guar seeds are mechanically dehusked, hydrated, milled and screened. Guar Gum is usually produced as a free-flowing powder with off-white appearance. The guar plant (Cyamopsis tetragonoloba) seed is mainly grown in India and Pakistan, and is also found across different parts of the world.
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The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).
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