Guargum prices rise in futures trade propelled by strong markets

NEW DELHI: Supported by strong domestic and overseas markets, guargum prices rose Rs 210 per quintal in futures trade today as speculators widened positions.

At the National Commodity and Derivatives Exchange, guargum for delivery in October contracts climbed Rs 210, or 1.80 per cent, to Rs 11,890 per quintal, with an open interest of 326 lots.

Also, delivery in June was trading higher by Rs 110, or 0.98 per cent, at Rs 11,370 per quintal with an open interest of 13,555 lots.

Marketmen said that apart from restricted arrivals from growing regions, a spurt in demand from consuming industries in physical markets influenced guargum prices in futures trade.

Rising export demand too supported the upside, they said.