Guargum futures recover on low-level buying

Guargum recovered by Rs 180 to Rs 8,080 per quintal in futures trade today in tandem with a firming trend at the spot market.

Marketmen said fresh positions built up by participants at existing levels and a firming trend at the physical market, influenced guargum prices in futures trade.

Besides, fall in arrivals of guarseed amid pickup in demand in physical market too, supported the uptrend.

At the National Commodity and Derivatives Exchange, guargum prices for the delivery in December rose by Rs 180, or 2.28 per cent to Rs 8,080 per quintal, with an open interest of 433 lots.
 

Also, guargum for most-active delivery in October was trading higher by Rs 160, or 2.09 per cent to Rs 7,830 per quintal, with an open interest of 17,168 lots.