Guargum futures zoom on export demand

Guargum prices spurted by Rs 217 to trade at two-year high of Rs 7,025 per quintal in futures trading today as traders indulged in widening their positions on robust export demand amid firm positive cues.
Besides, lower output reports too supported the upside.
At the National Commodity and Derivative Exchange, guargum for delivery in February month climbed Rs 217 or 3.19 per cent to Rs 7,025 per quintal, with an open interest of 220 lots.
Also, the most-traded March contracts flared up by Rs 176 or 2.55 per cent to Rs 7,090 per quintal, in an open interest of 42,865 lots.

Marketmen said the rise in guargum prices at futures trade to robust export demand coupled with positive global cues.