Guargum futures climb on positive domestic, global cues

Guargum prices jumped Rs 210 to Rs 6,190 per quintal in future trading today as participants widened their positions, tracking a firm trend at the domestic markets amid positive global cues.
Besides, tight arrivals of guarseed from growing belts influenced guargum prices.
At the National Commodity and Derivative Exchange, guargum delivery for delivery in current month shot up by Rs 210, or 3.51 per cent to Rs 6,190 per quintal, with an open interest of 5,530 lots.
Likewise, the most-active delivery in far-month October contracts spurted by Rs 180, or 2.84 per cent to Rs 6,520 per quintal and business turnover of 47,381 open lots.

Marketmen said the rise in guargum prices was mostly attributed to a firm trend at the domestic spot and global markets on the back of spurt in demand from consuming industries.