Guargum futures climb Rs 89/quintal

Guargum prices rose by Rs 89 to Rs 6,067 per quintal in futures trading today after participants enlarged their positions amid a rise in demand at the domestic spot markets against fall in arrival from producing belts.
Marketmen attributed the rise to a firm trend at the physical markets on the back of acceleration in demand against fall in arrivals of guarseed from growing regions.
Besides, rising global crude oil prices too influenced trading sentiment, they added.
At the National Commodity and Derivative Exchange, guargum delivery for delivery in most-active January month contracts spurted by Rs 89 or 1.49 per cent to Rs 6,067 per quintal, in an open interest of 34,165 lots.

Guargum for delivery in far-month February next year contracts also shot up by Rs 89, or 1.47 per cent, to Rs 6,130 per quintal, in a business turnover of 13,875 open lots.