Guar gum prices went up by Rs 57 to Rs 8,374 per quintal in futures trade today as traders indulged in enlarging positions amid a firm trend at the physical markets on robust export demand.
Market players attributed persistent rise in guar gum prices to raising of bets by participants, supported by strong demand at the spot markets and crude oil prices' surge to multi-year highs in global markets.
Besides, halt in supplies from growing regions on expectations of further rise in prices, accelerated the rising pace, they added.
At the National Commodity and Derivatives Exchange, guar gum to be delivered in May hardened by Rs 57 or 0.69 per cent to Rs 8,374 per quintal, with an open interest of 6,130 lots.
Similarly, the contract for delivery delivery in June gained Rs 50 or 0.59 per cent to Rs 8,486 per quintal, with a business turnover of 55,790 open interest lots.
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