Spot demand lifts guargum futures, up Rs 50 per quintal

Guargum prices were up by Rs 50 to Rs 5,880 per quintal in futures trading as speculators enlarged their positions amidst rising demand in the spot markets.
At the National Commodity and Derivative Exchange, guargum for delivery in February was trading higher by Rs 50, or 0.86 per cent to Rs 5,880 per quintal, clocking an open interest of 25,018 lots.
Also, delivery in far-month March gained Rs 40, or 0.68 per cent to Rs 5,950 per quintal, having an open interest of 17,093 lots.
Marketmen said apart from strong demand in the physical markets, tight supplies from growing regions, influenced guargum prices at futures trade.