Guar gum futures rise 1.6 pc on strong export demand

Guar gum prices rose by Rs 125 to Rs 7,797 per quintal in futures trade, extending gains for a second day in a row on strong domestic and export demand.
At the National Commodity and Derivative Exchange, guar gum delivery for the most-active October month spurted by Rs 125, or 1.63 per cent, to Rs 7,797 per quintal, with an open interest of 38,890 lots.
The November month contract also gained Rs 125 or 1.61 per cent to Rs 7,910 per quintal, having an open interest of 15,595 lots.
Analysts said participants raised bets after a firm trend trend at domestic spot markets on the back of strong export demand.

Restricted supplies of guar seed from growing belts also kept guar gum prices in positive zone, they said.