Guar gum futures recover as participants create position

Guar gum prices rebounded by Rs 95 to Rs 7,452 per quintal in the futures trade today as participants built up positions at existing levels, tracking a firm trend at the spot markets on pick-up in export demand.

Marketmen said fresh positions built up by participants, driven by a firm trend at the spot markets on rising exort demand, led to the rise in guar gum prices.

At the National Commodity and Derivatives Exchange counter, guar gum for delivery this month spurted by Rs 95 or 1.29 per cent to Rs 7,452 per quintal, with an open interest of 15,585 lots.

Also, the most-traded delivery in July gained Rs 94 or 1.26 per cent to Rs 7,545 per quintal, having an open interest of 49,350 lots.