Guargum futures extend gains, up Rs 20 per quintal

Guargum prices rose by another Rs 20 to Rs 5,560 per quintal in futures trade today after participants widened their bets amid a firming trend at the domestic as well as overseas markets.

In futures trading at the National Commodity and Derivatives Exchange, guargum for delivery in March edged up further by Rs 20, or 0.36 per cent, to Rs 5,660 per quintal, in an open interest of 20,917 lots.

Guargum for delivery in far-month April rose by a similar margin to trade at Rs 5,640 per quintal, having an open interest of 17,913 lots.

Marketmen attributed the rise in guargum prices at futures trade to a firming trend at domestic and overseas markets amid strengthening demand.
 

Furthermore, rising export demand too influenced guargum futures, they added.