Guargum future rises further on export demand

Guargum prices advanced further by Rs.490 to Rs.16,840 per quintal in future trading today as traders enlarge positions on the back of brisk export demand.
Marketmen said in the backdrop of rise in export demand, traders indulged in raising their holdings, leading to increase in guargum prices.
Besides, reduced arrivals of guarseed, sparked by increased offtake by guargum makers in spot markets, also helped influence trading sentiments.
At the National Commodity and Derivatives Exchange counter, guargum prices for most far contract January month shot up by Rs 490, or 3.00 per cent to Rs 16,840 per quintal, clocking an open interest of 14 lots.

Most active first contract October month too rose again by Rs.130, or 0.80 per cent to Rs 16,470 per quintal, in an open interest of 6,328 lots.