Guar gum futures gain by Rs 28 per quintal

Guar gum prices went up by Rs 28 to Rs 8,072 per quintal in futures trading today on expansion of position by participants supported by upbeat spot as well as overseas cues.
Market players said the rise in guar gum prices in futures trade was mostly attributed to raising of bets by participants, driven by pick up in demand against tight supplies in spot markets.
Besides, robust export demand too influenced guar gum prices, they added.
At the National Commodity and Derivative Exchange platform, guar gum for delivery in November advanced by Rs 28 or 0.35 per cent to Rs 8,072 per quintal, clocking an open interest of 20,225 lots.

Similarly, the delivery for the most-traded October rose by Rs 26 or 0.33 per cent to Rs 7,950 per quintal, with a business turnover of 344,265 open lots.