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US-China talks spell hope for guar gum

Guar gum exports fell 11 per cent year-on-year to around 163,000 tonnes in April-September.

, ET Bureau|
Oct 24, 2019, 10.29 AM IST
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Agri Commodities: Guar seed, guar gum futures fall on rising stockpiles
The guar industry has become hopeful as the US President Donald Trump has reportedly said that efforts to end the trade war with China are going well.
The progress in United States-China trade talks has raised hopes of India’s guar gum industry that it will get a better price for its produce and be able to step up exports in the current financial year. Prices of guar gum fell 10 per cent year-on-year and exports 11 per cent in the first half of the current fiscal as trade tensions between the US and China intensified during this period, putting pressure on crude oil prices and bringing down oil drilling activities in the US.

Though the industry is hopeful of the US picking up more guar gum for oil drilling activity, it is also exploring new markets such as Russia, South America and West Asia to export guar gum.

“Investors are not putting money in oil drilling, as there is a lot of uncertainty in the market,” Rajesh Kedia, director of Haryana-based Chimique India told ET. “However, the progress in trade talks between the US and China can improve the situation in the next half of 2019-20.”

The guar industry has become hopeful as the US President Donald Trump has reportedly said that efforts to end the trade war with China are going well.

Guar gum exports fell 11 per cent year-on-year to around 163,000 tonnes in April-September.

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