Guargum futures up by Rs 70 per quintal

Guargum prices were up by Rs 70 to Rs 5,600 per quintal in futures trade today after participants widened their positions at existing levels.
In futures trading at the National Commodity and Derivatives Exchange, guargum for delivery in April rose by Rs 70, or 1.27 per cent to Rs 5,600 per quintal, in an open interest of 26,266 lots.
In a similar fashion, guargum in May was trading Rs 70, or 1.25 per cent higher at Rs 5,670 per quintal, clocking an open interest of 10,396 lots.
Marketmen attributed the rise in guargum prices at futures trade to enlarging of positions by participants at current levels.

Besides, tight supplies from growing regions and pick up in demand in physical markets supported the uptrend in futures trade, they quoted.