Guargum prices bounced by Rs 186 to Rs 7,300 per quintal in future trade today following widening of position by the traders in tune with rising physical markets on the back of strong export demand.
Market players said speculators were indulged in widening their holdings in sync with robust export demand for oil drilling industries, which buoyed uptrend in the future market.
Besides, restricted arrivals of guarseed from growing regions amid heavy demand for gum making industries in the spot markets too enthused trading sentiments, they quoted.
At the National Commodity and Derivative Exchange counter, guargum delivery for immediate contract June month jumped up by Rs 186 or 2.61 per cent to Rs 7,300 per quintal, open interest stood at 3,430 lots.
The delivery for most traded July month contract also flared up by Rs 149 or 2.05 per cent to Rs 7,425 per quintal, having an open interest of 45,775 lots.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)