Guargum prices shot up by Rs 135 to Rs 6,030 per quintal in futures trading today after participants created fresh positions amid a firm trend at the domestic spot markets amid tight supplies from growing belts.
Marketmen said the rise in guargum prices at futures trade was mostly attributed to building up of speculative positions by participants, driven by tight supplies from growing regions in the physical markets.
At the National Commodity and Derivative Exchange, guargum for delivery this month contracts was trading notably higher by Rs 135 or 2.29 per cent to Rs 6,030 per quintal, with an open interest of 2,285 lots.
Also, the most-active delivery in December contracts rose by Rs 129 or 2.17 per cent to Rs 6,074 per quintal, clocking an open interest of 36,750 lots.
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