Guar gum prices soared by Rs 131 to Rs 8,048 per quintal in futures trading today as traders went for the long positions after getting firm cues from physical markets amidst surging export demand.
Marketmen said widening of bets by participants, tracking a firm trend at the spot markets on strong export demand, led to the rise in guar gum prices in futures trade.
At the National Commodity and Derivative Exchange, guar gum delivery for the most-active December spurted by Rs 131 or 1.65 per cent to Rs 8,048 per quintal, having an open interest of 52,180 lots.
Likewise, the delivery November climbed Rs 123 or 1.58 per cent to Rs 7,923 per quintal, open interest stood at 18,275 lots.
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