An upward trend in guar gum remained unabated for the third consecutive session with prices rising by another Rs 52 to Rs 8,030 per quintal in futures trade today as participants indulged in enlarging positions, driven by robust domestic as well as export demand.
Market players said persistent rise in guar gum prices at futures trade was mostly attributed to a firm trend at spot markets on strong demand from consuming industries coupled with export enquiries.
At the National Commodity and Derivative Exchange, guar gum for most-traded, delivery in October month was trading higher by Rs 52 or 0.65 per cent to Rs 8,030 per quintal, with an open interest of 37,310 lots.
Also, the delivery in November contracts gained Rs 41 or 0.51 per cent to Rs 8,137 per quintal, having an open interest of 17,215 lots.
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