Guar gum prices rallied for the second straight day, adding Rs 111 per quintal to Rs 8,615 in futures trade as participants engaged in expanding their holdings, thanks to strong domestic and overseas demand.
Marketmen said besides halt in arrivals from growing regions, brisk demand in the domestic as well as overseas markets mainly attributed persistent rise in guar gum prices in futures trade here.
At the National Commodity and Derivative Exchange, guar gum foremost-active delivery in October contracts spurted by Rs 111 or 1.31 per cent to Rs 8,615 per quintal, with an open interest of 45,550 lots.
Guar gum for November delivery contracts also advanced by Rs 95 or 1.10 per cent to Rs 8,730 per quintal, clocking an open interest of 4,500 lots.
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