Guargum rises on firm spot market cues

Guargum gained Rs 671 to Rs 23,017 per quintal in futures trade today, rising for the third straight session on the back of speculative buying by traders amid firm spot market cues.

Marketmen said strong export demand and reduced arrivals of guarseed pushed up prices of the commodity for the third consecutive day in futures trade.

At the National Commodity and Deratives Exchange, guargum for far-May delivery spurted by 3%, or Rs 671, to Rs 23,017 per quintal, with an open interest for 40 lots.

Guargum futures for December delivery followed suit and were quoting higher by Rs 98, or 0.46%, at Rs 21,366 per quintal in 4,030 lots.