Guargum prices spurted by Rs 70 to Rs 6,799 per quintal in futures trade today as traders built up fresh positions, tracking a firm trend overseas.
At the National Commodity and Derivative Exchange, guargum for delivery in March month contracts was trading notably higher by Rs 70 or 1.04 per cent to Rs 6,799 per quintal, with an open interest of 43,610 lots.
Guargum for delivery this month contracts too moved up by Rs 32 or 0.48 per cent to Rs 6,700 per quintal, with open interest of 510 lots.
Marketmen said brisk export demand coupled with restricted arrivals of guarseed from growing regions, buoyed participants to raise their holdings.
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