Guar gum futures rise on positive demand

Guar gum prices on Tuesday gained Rs 46 to Rs 6,740 per five quintal in futures trade as investors increased their holdings on spot demand.

On the National Commodity and Derivatives Exchange, guar gum contracts for February delivery traded higher by 0.69 per cent, or Rs 46, at Rs 6,740 per five quintal with an open interest of 4,620 lots.

Likewise, the delivery of March contracts surged by Rs 45, or 0.66 per cent, to Rs 6,815 per five quintal as open interest stood at 54,965 lots.

Analysts said after tracking firm physical market trend, traders raised their bets which led to rise in guar gum prices.