Guar gum rises in futures trade on export demand

Guar gum prices spurted by Rs 93 to Rs 8,140 per quintal in futures trading today as operators engaged in raising their portfolios, thanks to strong export as well as domestic demand.

According to marketmen, the rally in guar gum prices ion futures trade was attributed to raising of positions by participants largely on strong export as well as domestic demand amid improving trend in crude oil.

Besides, tight supplies of guar seed from producing areas amid pick up in demand from guar gum makers in spot markets too influenced sentiments, they added.

At the National Commodity and Derivative Exchange, guar gum to be delivered in November contract hardened by Rs 93 or 1.16 per cent to Rs 8,140 per quintal, clocking an open interest of 1,210 lots.
 

Guar gurm for most-active October contract also flared up by Rs 79 or 0.99 per cent to Rs 8,021 per quintal, depicting an open interest of 44,195 lots.