Guarseed futures have extended their gains on the back of strong export demand of guargum coupled with limited supplies in local mandies. The trade sources stated that India's guargum exports are expected to surpass 4 lakh tonnes in the current year due to revival of oil drilling activities in US. Moreover, overall production of guarseed in the current year is projected lower at 80-90 lakh bags , down 30 percent from the last year due to weak sowing acreage in Gujarat. The NCDEX March futures augmented by 3.99 percent to close at Rs 3752 per quintal today.
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