Guargum prices spurted by Rs 350 to Rs 16,400 per quintal in future trading today after participants created speculative position, triggered by rising spot and export demand.
At the National Commodity and Derivatives Exchange, guargum prices for delivery most-active October contracts traded Rs 350, or 2.18 per cent, higher at Rs 16,400 per quintal, in an open interest of 9,678 lots.
On similar lines, delivery in November month contracts rose by Rs 290, or 1.81 per cent to Rs 16,320 per quintal, with an open interest of 2,135 lots.
Marketmen attributed rise in guargum prices at futures trade to rising demand in the spot markets at lower levels.
Further, pick up in export demand also influenced trading sentiment, they added.
