Guargum prices strengthened by Rs 36 to Rs 6,672 per quintal in futures trading today as traders enlarged their position on the back of rising export demand.
Market players said that fresh buying by operators on the back of tight supplies and acceleration in demand at the spot markets, led to the rise in guargum prices here in the futures market.
However, rising export demand for oil drilling industries too helped to boost trading sentiments in the futures trading, they quoted.
At the National Commodity and Derivatives Exchange, guargum delivery for immediate contract of July improved by Rs 36, or 0.54 per cent, to Rs 6,672 per quintal, with an open interest at 15,120 lots.
Similarly, the delivery for most-traded October increased by Rs 16, or 0.23 per cent, to Rs 7,042 per quintal, having an open interest of 36,335 lots.
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