Guar gum futures gain on spot demand

Guar gum prices on Thursday gained Rs 167 to Rs 6,415 per five quintal in futures trade as speculators increased their holdings on spot demand.

On the National Commodity and Derivatives Exchange, guar gum contracts for December delivery traded higher 2.67 per cent, or Rs 167, to Rs 6,415 per five quintal with an open interest of 955 lots.

Analysts said after tracking firm physical market trend, traders raised their bets which led to rise in guar gum prices.


However, the contracts for delivery in January traded lower by Rs 87, or 1.38 per cent, at Rs 6,205 per five quintal as open interest stood at 51,170 lots.