Guar gum futures recover on short-covering

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Guar gum prices recovered by Rs 38 to Rs 7,570 per quintal in futures trading today as speculators were seen covering-up their short positions at existing levels, tracking a firm trend at the physical markets.
At the National Commodity and Derivative Exchange platform, guar gum for delivery in far-month July contracts was trading higher by Rs 38 or 0.50 per cent to Rs 7,570 per quintal, having an open interest of 27,945 lots.
Guar gum for delivery in June also higher by Rs 30 or 0.41 per cent to Rs 7,426 per quintal and open interest stood at 29,825 lots.

Marketmen said the rise in guar gum prices was mostly attributed to covering-up of short positions by participants at current levels amid a better trend t t he spot markets on pick up in demand.