The market price of guar, a versatile crop grown primarily in India, has seen fluctuation in recent years due to various factors influencing supply and demand. Guar is known for its drought-resistant qualities and is used in a variety of industries including food, pharmaceuticals, and oil and gas.
In the past few years, the market price of guar has experienced both highs and lows. In 2012, the price of guar skyrocketed due to a shortage caused by poor crop yields and increased demand from the oil and gas industry for its use in hydraulic fracturing, or fracking. This led to guar prices reaching record levels and farmers profiting from the high demand.
However, in subsequent years, the market price of guar has seen a decline as farmers increased production in response to the high prices. This oversupply in the market caused prices to drop significantly, impacting the profitability of guar cultivation for farmers.
In recent years, the market price of guar has shown signs of stabilization as supply and demand have come into better balance. Factors such as government policies, weather conditions, and global demand for guar products continue to influence the market price.
Overall, the market price of guar remains a topic of interest for farmers, traders, and industries that rely on this versatile crop. Keeping track of market trends and understanding the factors that impact guar prices is important for stakeholders to make informed decisions in this dynamic market.