Guar gum futures surge on global demand

Guar gum prices soared by Rs 170 to Rs 8,428 per quintal in future trading today following all-round buying by participants in line with firm overseas markets.
Market players attributed the sharp upsurge in guar gum prices here in future trading to robust export demand for oil drilling industries.
Besides fall in arrivals and better demand in spot markets also influenced trading sentiments, they quoted.
At the National Commodity and derivative Exchange platform, guar gum delivery for most active current contract April month advanced by Rs 170 or 2.06 per cent to Rs 8,428 per quintal, with the business turnover of 18,145 open lots.

Also, the delivery for most active second contract May month edged up by Rs 168 or 1.99 per cent to Rs 8,600 per quintal, open interest stood at 43,885 lots.