Guargum prices spurted by Rs 300 to Rs 9,400 per quintal in futures trading today on speculative buying by participants amid emerging demand at spot as well as overseas markets.
Marketmen said thin arrivals and pickup in demand in physical markets mainly encouraged traders to enlarge positions.
Strong export demand from oil drilling industries also supported the uptrend, they added.
At the National Commodity and Derivatives Exchange, guargum for delivery in December surged by Rs 300, or 3.30 per cent to Rs 9,400 per quintal with an open interest of 626 lots.
Most active contract for October too edged up by Rs 180, or 1.98 per cent to Rs 9,250 per quintal, in an open interest of 15,866 lots.
