Guar gum futures rise on export demand

Guar gum prices remained in demand, rising Rs 116 to Rs 9,570 per quintal in futures trade today on elaborated of holdings by speculators tracking upbeat physical sentiments backed up by strong export demand.
Market players said increase in bets by operators in line with tight supplies of guar seed in spot markets, coupled with robust export demand for oil drilling industries kept guar gum futures prices positive for the second consecutive day today.
At the National Commodity and Derivative Exchange, guar gum delivery for March contracts rose Rs 116, or 1.23 per cent, to Rs 9,570 per quintal, with a business turnover of 71,560 lots.

The delivery for April contracts also rose by Rs 103 or 1.07 per cent to Rs 9,690 per quintal, with an open interest of 5,600 lots.