India guar futures higher on export revival

MUMBAI, March 13 (Reuters) - India guar futures ended higher on a revival in export demand triggered by a falling rupee, analysts said.

"Export enquiries have increased in the past few days...Chinese and Brazilian buyers may buy about 20,000 tonnes of the commodity in March," said Subodh Punia, an exporter in Jaipur, Rajasthan.

The Indian rupee has shed about 6 percent so far during the year, and hit a record low of 52.20 per dollar last week.

A weak rupee makes Indian offerings attractive in dollar-based global trade.

India controls about 80 percent of the worldwide market for guar products, according to the government trade promotion council for the commodity.

Spot prices fell by 2 rupees to 1,568 rupees per 100 kg in Bikaner, a major trading centre.

India controls about 80 percent of the worldwide market for guar products, according to the government trade promotion council for the commodity.

Spot prices fell by 2 rupees to 1,568 rupees per 100 kg in Bikaner, a major trading centre.

Source: reuters