Guar gum futures recover on upbeat demand

Guar gum prices went up by a whopping Rs 189 to Rs 7,838 per quintal in future trading today after expansion of holdings by participants taking firm cues from physical markets amidst rising export demand.
Market players said traders besides covering up of short positions by participants, a firm trend at the spot markets on domestic as well as export demand, mainly influenced guar gum prices in futures trade here.
At the National Commodity and Derivative Exchange, guar gum for delivery in November contracts climbed Rs 189 or 2.47 per cent to Rs 7,838 per quintal, clocking an open interest of 850 lots.

Guar gum for most-traded October contracts also surged by Rs 157 or 2.08 per cent to Rs 7,713 per quintal, depicting an open interest of 43,265 lots.