Guar gum prices rose 11.50% in September 2024, reaching ₹11,800 per quintal, driven by the US oil industry’s surge in fracking activities.
The increase is primarily due to favorable global oil prices and increasing rig counts. The US oil production has also increased by 6.5% this year, boosting demand for guar gum in hydraulic fracturing.
The market outlook remains positive, with sustained global oil demand and production growth. The surge in US oil production has fueled the demand for guar gum used in fracking.
