Guargum prices strengthened by Rs 240 to Rs 11,200 per quintal in future trade today on fresh buying by participants in tandem with emerging physical and overseas market sentiments.
The hike in prices was mainly attributed to fresh buying by traders on current levels amid tight supplies. Strong overseas demand also pushed up the trading sentiments to some extent, market analysts said.
At the National Commodity and derivatives Exchange, guargum prices contract for November delivery climbed by Rs 240, or 2.19 per cent to Rs 11,200 per quintal, in an open interest of 73 lots.
The contract for July month delivery jumped by Rs 210, or 2.05 per cent to Rs 10,430 per quintal, with an open interest of 10,698 lots.
Second contract for October delivery too spurted by Rs 220 or 2.03 per cent to Rs 11,040 per quintal and open interest stood at 10,083 lots.
