Guar gum futures spurt 4 pc on global cues

Guar gum prices shot up by Rs 316 or 4 per cent to close at Rs 8,216 per quintal in futures trade today as speculators widened positions amid a firming trend at the domestic spot as well as overseas markets.

At the National Commodity and Derivative Exchange, the current month delivery was up by Rs 316 or 4 per cent to close at Rs 8,216 per quintal, with an open interest of 2,280 lots.

Also, the November month delivery surged by Rs 289 or 3.60 per cent to end at Rs 8,320 per quintal, with a business turnover of 48,005 lots.
 

Marketmen said tight supplies of guar gum from growing regions amid brisk buying on rising demand and upbeat global cues mainly supported the upside in guar gum prices in futures trade.