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Guar up as output fears offset dull export demand.


Date: 11-11-2009
Subject: Guar up as output fears offset dull export demand
MUMBAI, Nov 10 (Reuters)- Indian guar futures recovered sharply in the evening session on Tuesday as investors ignored a lull in export demand and focused on lower crop estimates and squeezed supplies from the fields, analyst said.

Guar futures bounced back sharply from a midsession decline on speculative selling, an analyst said.

Spot market mirrored the futures and recovered to end at 2,515 rupees per 100 kg at Jodhpur, a trading hub in Rajasthan.

Poor monsoon has damaged nearly 70 percent of standing guar crop in Rajasthan, which accounts for four-fifth of the country's guar acreage. 

Source : REUTERS

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