Guargum futures soar Rs 100 per quintal

Guargum prices went up by a whopping Rs 100 to Rs 6,570 per quintal in futures trading today as traders accumulated positions at prevailing levels amid a firm trend at the domestic as well as overseas markets.
Marketmen said widening of positions at existing levels by traders, led to the rise in guargum prices at futures trade here.
Besides, tight supplies in physical markets supported uptrend, they quoted.
At the National Commodity and Derivative Exchange, guargum for delivery this month contracts was trading sharply higher by Rs 100 or 1.55 per cent to Rs 6,570 per quintal, with an open interest of 5,375 lots.

In a similar manner, guargum for most-active November contracts gained Rs 96 or 1.44 per cent to Rs 6,765 per quintal and business turnover of 37,225 open lots exhibited.