Guargum up 1.83% on increased buying

Marketmen attributed rise to fresh positions by speculators and fall in supplies from growing regions

Guargum prices rose by 1.83 per cent to Rs 14,490 per quintal in futures trade today as speculators enlarged positions at prevailing levels.

At the National Commodity and Derivatives Exchange, guargum prices for December contract gained by Rs 260, or 1.83 per cent, to Rs 14,490 per quintal, in an open interest of 13,044 lots.

November prices also advanced by Rs 220, or 1.56 per cent, to Rs 14,290 per quintal, with an open interest of 601 lots.

Marketmen attributed the rise in guargum prices in futures trade to fresh positions created by speculators at prevailing levels and fall in supplies from growing regions.