Guar gum prices increased Rs 87 to Rs 8,209 per quintal in futures trading today as traders created bets in sync with firm physical markets amid a rising export demand.
Market players put down the uptick in guar gum futures prices to lower arrivals from growing regions. Brisk export demand for oil drilling industries fuelled the trend.
At the National Commodity and Derivative Exchange, guar gum delivery for the immediate contract November went up by Rs 87, or 1.07 per cent, to Rs 8,209 per quintal, with an open interest of 6,020 lots.
The delivery for the most traded near contract December also hardened by Rs 59, or 0.72 per cent, to Rs 8,298 per quintal, with a business turnover of 66,165 open lots.
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