Guar gum futures bounce on spot, export demand

Guar gum prices rebounded by Rs 90 to Rs 8,440 per quintal in futures trade today on accumulation of fresh positions at existing levels, supported by upbeat trend at domestic and export markets.
Marketmen said apart from fall in arrivals of guar seed coupled with pick up in demand in the spot markets at prevailing levels influenced guar gum prices in futures trade here.
Beside, rising export demand too supported the upmove in prices, they added.
At the National Commodity and Derivative Exchange, guar gum for delivery in November contracts spurted by Rs 90 or 1.08 per cent to Rs 8,440 per quintal, with an open interest of 12,070 lots.

Also, the most-traded October month contract delivery strengthened by Rs 83 or 1.01 per cent to Rs 8,323 per quintal, having an open interest of 43,080 lots.