The majority of brokers and traders are on religious holidays until the 30th of August. This has resulted in the traders and speculators market activity becoming subdued. This has reduced the activity of buyers, sellers, stockists and speculators of Guar Gum seeds and splits.
The Supply of raw Guar splits is calculated to be below expectations, the harvest might not be as large as was previously thought. This is due to the delayed third round of monsoon rains.
Demand is still strong from the oil drilling industy. European food and technical buyers are mostly away on holiday.
The delay in the monsoons third round of rains may have resulted in a lower than anticipated harvest yield, this could keep the prices for Guar Gum powder firm, In the coming months. Atleast until the crops have atually been harvested and brought to market by the farmers.