Guar gum prices rose by Rs 187 to Rs 9,747 per quintal in futures trade today on the accumulation of holdings, powered by a boost in export demand amidst falling domestic currencies against dollar.
Marketmen said, a hefty bounce in the export demand for the oil drilling industries due to weakening of the rupee against the American units, motivated traders to build up positions, which kept the guar gum prices higher in futures trade.
At the National Commodity and Derivatives Exchange platform, guar gum delivery for the November contract shot up by Rs 187, or 1.96 per cent, to Rs 9,747 per quintal with an open interest of 2,825 lots.
The delivery of October contracts sharpened by Rs 172, or 1.82 per cent, to Rs 9,641 per quintal, with an open interest of 64,170 lots.
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