Guargum futures jump on heavy buying

Guargum prices shot up by Rs 84 to Rs 4,770 per quintal in future trade today on speculative buying guided by firm spot market cues.

Marketmen said smart rise in guarseed prices and strong demand from adhesive making industries, weighed on the prices in the futures market.

Restricted supply from growing regions also helped in boosting the trading sentiment, they added.

At the National Commodity and Derivatives Exchange counter, guargum price for the month of October contract climbed by Rs 84, or 1.79 per cent, to Rs 4770 per quintal, having an open interest of 20,790 lots.

Most active November contract also attracted buyers attention and jumped up by Rs 61, or 1.29 per cent to Rs 4778 per quintal, showing an open interest of 36,055 lots.