Money Market Guru — Buoyancy continued in guarseed futures on the back of strong export demand of guargum coupled with limited supplies in local mandies. The trade sources stated that Indias guargum exports are expected to surpass 4 lakh tonnes in the current year due to revival of oil drilling activities in US.
Moreover, overall production of guarseed in the current year is projected lower at 80-90 lakh bags , down 30 percent from the last year due to weak sowing acreage in Gujarat. The NCDEX April futures increased by 1.14 percent to currently trade at Rs 3884n++per quintal today. — Money Market Guru — Pia