Guar gum goes up by Rs 108 a qtl in futures trade

Guar gum prices firmed up by Rs 108 to Rs 10,226 per quintal in futures trade today as operators accumulated huge positions,triggered by a firm trend at the physical markets on export demand.
At the National Commodity and Derivative Exchange, guar gum to be delivered in far-month March rose sharply by Rs 108 or 1.07 per cent to Rs 10,226 per quintal, with business turnover of 29,455 lots.
Also, the most-traded delivery in February also advanced Rs 97 or 0.97 per cent to Rs 10,089 per quintal and the business was revealing in 48,040 open interest.
Marketmen attributed the spurt in guar gum prices at futures market to raising of bets by participants, driven by a firm trend at the spot markets on strong export demand.