Guargum prices climbed up by Rs 74 to Rs 6,325 per quintal in futures trading today following all-round buying by speculators, driven by emerging physical as well as overseas markets.
Marketmen said thin supplies of guarseed from growing regions amid strong demand by guargum makers in spot markets encouraged traders to build up long positions.
Besides, robust export demand for oil drilling industries too helped to up-mark in prices, they quoted.
At the National Commodity and Derivatives Exchange, guargum delivery for January shot up by Rs 74, or 1.18 per cent, to Rs 6,325 per quintal, with an open interest of 1,275 lots.
The delivery for February also flared up by Rs 71, or 1.12 per cent, to Rs 6,398 per quintal, with a business turnover of 39,810 open lots.
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