Guargum future gain on brisk buying

Guargum prices shot up by Rs 162 to Rs 6,324 per quintal in future trading today, owing to frantic buying by traders, guided by firm spot markets sentiment.

Market analysts attributed restricted supply and strong demand in spot markets to the rise in futures price.

Low stocks position of guarseed also helped to boost the trading sentiments to some extent, they added.

At the National Commodity and Derivatives Exchange (NCDEX) counter, guargum price for far March month contract delivery at Jodhpur was quoting higher by Rs 162 or 2.63 per cent to Rs 6,324 per quintal, revealing an open interest of 20 lots.

Current December month contract also strengthened by Rs 71 or 1.18 per cent to Rs 6,077 per quintal, mirroring an open interest of 15,165 lots.