The Guar market continued its downward price trend, with bearish sentiments prevailing as the Jodhpur market recorded Guar prices near a two-week low. Over the last week, seed prices and gum prices have decreased by 3% and 4%, respectively. Key factors contributing to this decline include:

• Normal Sowing Progress: In the northwestern parts of Rajasthan, particularly in major Guar belts such as Hanumangarh and Sri Ganganagar, sowing activities are progressing normally.

• Favorable Monsoon Expectations: The India Meteorological Department (IMD) has forecasted favorable monsoon conditions for the current season. Adequate rainfall is anticipated to support the sowing process.

• Decline in Guar Gum Exports: Guar gum exports have declined by 5% compared to the previous month. This decrease in export demand is a significant factor in the overall decline of Guar prices.

• Reduced Oil Rig Count: The count of active oil rigs has reached its lowest level since January 2022. This reduction signals a decrease in drilling activities, which directly impacts the demand for Guar gum.

Given these factors, Guar seed prices are likely to range between INR 5,100 and INR 5,500/Qtl., while gum prices are expected to be between INR 10,200 and INR 10,900/Qtl. in the near future.