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Indian chana, guar fall on higher output hopes

MUMBAI Fri Jan 3, 2014 2:46pm IST

Jan 3 (Reuters) - Indian guar seed futures fell on Friday due to supplies from the new season harvest and expectations of higher output.
* The January contract was down 0.63 percent at 4,710 rupees per 100 kg on the National Commodity and Derivatives Exchange (NCDEX) at 0909 GMT.
* "Production is expected to be higher this season but demand from oil and gas companies is weak. The sentiment looks weak in guar futures," said Surendra Kumar Yadav, a trader from Hanumangarh, Rajasthan.
* Industry experts expect guar seed production to be 2.5-2.7 million tonnes in 2013, up from about 2.2 million tonnes a year earlier.

 http://in.reuters.com/article/2014/01/03/markets-india-chana-idINL3N0KD15B20140103

 http://www.tribuneindia.com/2013/20131125/main4.htm

Monday, November 25, 2013, Chandigarh, India NEWS AND VIEWS PUNJAB HARYANA JAMMU & KASHMIR HIMACHAL REGIONAL BRIEFS NATION OPINIONS LETTERS BUSINESS SPORTS WORLD SPECIAL COVERAGE CHANDIGARH LUDHIANA DELHI THE TRIBUNE SPECIALS 50 YEARS OF INDEPENDENCE TERCENTENARY CELEBRATIONS

M A I N   N E W S Guar price in free fall, farmers fume Sushil Manav/Raj Sadosh Tribune News Service The ‘green gold’ Guar, dubbed ‘green gold’, is a rain-fed monsoon crop requiring 8-15 inches of rain in 3-4 spells India leads the way India is the leading producer of guar and guar gum in the world. Rajasthan leads the way with 70 per cent production in the country Guar gum is used in the food and pharmaceutical industries. it is also used as a thickener in toothpaste and conditioner The China factor A strong demand from the shale gas industry led to a spurt in guar gum production last year But cheap alternatives from China are being blamed for Indian traders’ plight Sown in 8,000 acres Apart from Rajasthan, Haryana, Gujarat and Punjab are the other guar producing states In Rajasthan, guar seed was grown on 3.5 million hectares in 2013 Guar had been sown on around 8,000 acres in Khuyiansarwer and Abohar blocks Sirsa/Abohar, november 24 Ellenabad farmer Sat Narain is in no hurry to sell his 50 quintal guar, a costly legume, which he has grown on 10 acres. With current price of guar hovering at Rs 4,500 per quintal, Narain hopes it will touch the Rs 30,000 per quintal mark of last year. Though Narain grew guar on just two to three acres, he decided to go with the crop on the better part of his total landholding this time as the prices had shot up last year. Unaware of the nitty-gritty of market forces that led to huge fluctuation in prices, Narain has decided to wait, as he still remembers how prices soared to Rs 31,500 per quintal in March 2012 after he had sold his guar for Rs 6,100 per quintal in the beginning of January that year.

 http://www.mydigitalfc.com/commodities/guar-exports-surge-price-falls-617

Guar exports to surge as price falls

By Bloomberg Nov 24 2013

Tags: Commodities

US drilling firms, European food processors spur consumption

A record plunge in the prices of guar gum, a thickening agent used for oil and gas extraction, may boost exports from India, as demand revives among US drilling companies and European food processors.

Shipments may surge as much as 50 per cent to 500,000 tonnes in the year that began on April 1 from 333,000 tonnes a year earlier, said Rajesh Kedia, director at Jai Bharat Gum & Chemicals, India’s third-largest exporter. Shipments increased about 30 per cent to about 210,000 tons in the five months through August, he said.

Prices slumped after India, the world’s largest producer, banned futures trading in March 2012 to curb speculation and record rates cut demand from users.

Guar prices may continue to fall, Mark McCollum, Halliburton’s chief financial officer said Sept. 19. The importers will definitely buy more as prices are attractive, Chowda Reddy, a senior manager at Inditrade Derivatives and Commodities, said. Demand will increase. Guar gum futures slumped more than 50 per cent since May 15, when the Indian exchanges restarted trading after a 14-month ban.