Guargum futures soar on export demand

Guargum prices flared up by Rs 460 to Rs 10,610 per quintal in future trading today after participants enlarged positions amidst pick up in export demand amdist restricted arrivals.
At the National Commodity and Derivatives Exchange, guargum prices for delivery in April contracts spurted by Rs 460 or 4.53 per cent to Rs 10,610 per quintal, with an open interest of 984 lots.
Similarly, the most-active May month contracts climbed Rs 450 or 4.33 per cent to Rs 10,850 per quintal, clocking an open interest of 14,831 lots.
Marketmen said apart from restricted supplies from growing regions, rising export demand of guargum, led to the rally in prices.

Meanwhile, India is a leading exporter of guargum and it commands about 80 per cent of global production.