Guar gum futures rise on heavy buying

NEW DELHI: Guar gum prices strengthened by Rs 120 to Rs 10,600 per quintal in futures trading today on fresh buying at spot markets.

Besides, increased demand due to fall in supply of guarseeds from growing regions led to rise in guar gum prices.

Hike in export demand also supported the uptrend, marketmen said.

At the National Commodity and Derivatives Exchange( NCDEX), guar gum prices for March contract gained Rs 120, or 1.15 per cent, to Rs 10,600 per quintal with an open interest of 8,702 lots.

February contracts also rose by Rs 90, or 0.87 per cent, to Rs 10,450 per quintal in an open interest of 10,450 lots.