Guar gum futures rise Rs 212 per quintal

Guar gum prices shot up by Rs 212 to Rs 8,640 per quintal in futures trade today as traders went for the long positions enthused by robust export and physical demand.
Marketmen said speculators were raising holdings supported by a spurt in export demand for oil drilling industries overseas, powered by halt in supplies of guar seed from growing regions in spot markets, which helped to boost guar gum prices.
At the National Commodity and Derivatives Exchange counter, guar gum for delivery in January jumped up by Rs 212, or 2.52 per cent, to Rs 8,640 per quintal, with a business turnover of 72,085 open lots.

The delivery for the immediate contract also jumped up by Rs 177, or 2.14 per cent, to Rs 8,445 per quintal, with an open interest of 370 lots.