Guar Futures settled at 4% upper limit for the third straight day during the week. Expectations of tight supplies in the long run owing to robust exports and lower output have led to whopping 120% rise in Guar prices since last 2 months.
According to the second advance estimates from Rajasthan farm department, Guar seed output has been revised upward from 11.36 lakh tonnes to 12.09 lakh tonnes and area covered has been revised upward at 30.9 lakh ha against 29 lakh hectares in the first advance estimates.
Production
After harvesting a record 15 lakh tonnes of Guar crop in Rajasthan in 2010-11season (Oct 10- Sep 11), output in the current season has declined to around 12.09 lakh tonnes (Second advance Estimates)
In the current season 2011-12, which started in October 2011, output is estimated 25% lower than previous year, while exports continue to remain firm registering 68% growth during the first 6 months of FY 2011- 12 (Apr 11-Mar -12). Further. Carryover stocks of Guar in the current season is at lowest levels around 1.5-2 lakh tonnes against normal 4-4.5 lakh tonnes.
Exports
Exports of Guar gum from April to September 2011 stood at 2.86 lakh tonnes a rise of 68 % compared to 1.70 lakh tonnes during the same period last year.
In 2010-11 fiscal, Guar gum exports were almost doubled to 4.03 lakh tonnes.
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