Supported by a firming trend at the spot markets, guargum prices improved by Rs 70 per quintal in futures trading today as participants created fresh positions.
At the National Commodity and Derivative Exchange, guargum for delivery in April was trading higher by Rs 70, or 1.30 per cent to Rs 5,470 per quintal, with an open interest of 23,050 lots.
Similarly, delivery in current month advanced by Rs 60, or 1.13 per cent to Rs 5,390 per quintal, clocking an open interest of 11,774 lots.
According to marketmen, huge positions built-up by speculators, tracking firming trend at the spot markets on rising demand and tight arrivals from growing regions amid strong demand from guargum makers, influenced the guargum prices at futures trade.
