Guar gum prices spurted by Rs 152 to Rs 7,196 per quintal in futures trade today after speculators expanded their holdings backed up by upbeat in physical markets amidst restricted supplies and rising export demand.
Marketmen said fall in arrivals of guar seed from growing regions backed up by better offtake by gum makers in spot markets, mainly supported the upside in guar gum prices in futures market.
Furthermore, strong export demand supported the upside, they added.
At the National Commodity and Derivatives Exchange, guar gum for delivery in October shot up by Rs 152, or 2.16 per cent, to Rs 7,196 per quintal, depicting an open interest of 40,600 lots.
Guar gum for delivery this month also spurted by Rs 138, or 2.07 per cent, to Rs 6,815 per quintal, in an open interest of 8,705 lots.
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