Guar gum futures spurt by Rs 115 per quintal

Guar gum prices shot up by Rs 115 to Rs 7,952 per quintal in futures trade today as speculators indulged in widening positions, driven by a firming trend at the domestic spot and overseas markets.
Marketmen said tight supplies of guar seeds from growing regions amid brisk buying by guar gum makers on rising demand and upbeat global cues mainly supported the upside in guar gu m prices in futures trade.
At the National Commodity and Derivative Exchange, the October delivery was up by Rs 115 or 1.47 per cent to Rs 7,952 per quintal, with an open interest of 8,235 lots.

Also, the most-traded November delivery surged by Rs 113 or 1.42 per cent to Rs 8,087 per quintal, with the business turnover of 44,185 open lots.