Guar gum futures advance on export demand

Guar gum prices improved by Rs 31 to Rs 8,220 per quintal in futures trade today on expansion of holdings backed up by emerging physical markets amid rising export demand.

Market players said operators were building up fresh positions in line with firm physical markets on the back of acceleration in export demand for oil drilling industries, which reflected upturn in guar gum futures prices.

Besides, restricted arrivals of guar seed from growing regions also helped to boost trading sentiment, they quoted.

At the National Commodity and Derivatives Exchange platform, guar gum delivery for the first contract May hardened by Rs 31 or 0.38 per cent to Rs 8,220 per quintal, open interest stood of 19,915 lots.

Similarly, the delivery of the most traded second contract June looked up by Rs 21 or 0.25 per cent to Rs 8,330 per quintal, with the business turnover in 46,285 open lots.