Guargum prices were sharply up by Rs 130 to Rs 5,710 per quintal in futures trading today as participants enlarged their positions amid a firm trend at the physical markets amid positive overseas cues.
Marketmen said the rise in guargum prices at futures trade was mostly supported by a firm trend at the spot markets where prices rebounded on the back of restricted arrivals and strong demand.
Besides, strong export demand too supported the upside in prices, they added.
At the National Commodity and Derivatives Exchange, guargum for delivery in April advanced by Rs 130, or 2.36 per cent, to Rs 5,630 per quintal, having an open interest of 21,687 lots.
On similar lines, delivery in May also rose by Rs 130, or 2.33 per cent, to Rs 5,710 per quintal, with an open interest of 15,901 lots.
