Guargum futures climb Rs 202 per quintal

Guargum prices spurted further by Rs 202 to Rs 6,988 per quintal in future trading today as speculators engaged in expanding their positions, driven by firm physical markets sentiment.
Marketmen said widening of positions by speculators, triggered by strong demand at the spot markets against less arrivals from growing regions, mainly supported the upside.
At the National Commodity and Derivative Exchange, guargum for delivery in far-month January next year recorded a steep rise of Rs 202 or 2.98 to Rs 6,988 per quintal, with an open interest of 355 lots.
Also guargum for delivery in most-active November flared up by Rs 72 or 1.06 to Rs 6,833 per quintal, having an open interest of 34,870 lots.

Guargum for delivery this month too was trading higher by Rs 70 or 1.06 per cent to Rs 6,650 per quintal, clocking an open interest of 9,987 lots.