Guargum future recovers 1.57 per cent

Guargum prices recovered by 1.57 per cent to Rs.16,190 per quintal in futures trading today as speculators enlarged positions at current lower levels.
At the National Commodity and Derivatives Exchange, guargum for delivery in far-month October contracts rose by Rs 250, or 1.57 per cent, to Rs 16,190 per quintal, with an open interest of 1,632 lots.
Similarly, the most-active delivery in August month contracts traded Rs 220, or 1.45 per cent, higher at Rs 15,400 per quintal, in an open interest of 13,752 lots.
Current July month contract also found fresh support by rising Rs 160, or 1.07 per cent, at Rs 15,160 per quintal in an open interest of 251 lots.

Marketmen said the rise in guargum prices at futures trade was mostly attributed to fresh positions built up by speculators at prevailing lower levels.