February 2024: Guar Exports Surge Amidst Rising Demand and Bullish Oil Prices

Guar Gum

Published on

In February 2024, Guar exports experienced a 4% increase compared to the previous month. Guar gum exports specifically reached 23 MT, marking a 4% rise and demonstrating improvement for the third consecutive month, driven by strong demand in the international market amid a bullish trend in WTI crude oil prices, which surged by approximately 7% over the last three months. Guar split exports for February '24 increased by 25%, totaling 6.5 MT. Cumulatively, from October '23 to February '24, guar exports reached 132 MT, representing a 4% increase compared to the corresponding period last year. Given the current conditions, it is expected that good demand in the international market will prevent any significant price declines and may even lead to further price improvements from current levels.