Guar gum prices are expected to recover the losses: Karvy

Karvy Commodities report on Guar seed and guar gum Guar seed and guar gumGuar seed and guar gum futures extended its losses yesterday touching lower circuit of daily price limit following cues from the bearishness of spot market. Limited buying by millers against the adequate supply of guar pressurized prices at major trading centers. Guar seed future for Oct delivery fell by 3.98% on account of short accumulation supported by improving crop condition and sowing progress in Rajasthan. Similarly, Guar gum futures plummeted by 3.95% on long liquidation on lowering buying interst at higher level. OutlookGuar seed and guar gum futures are expected to recover the losses of prevous session on account of supportive fundamental of the commodity. Fresh buying could be seen in coing days in view of supply shortage of guar for upcoming season.For all commodities report, click hereDisclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

Read More