Guar gum futures recover on export demand

NEW DELHI, Aug 14: Guar gum prices rose by Rs 105 to Rs 9,656 per quintal in futures trade today as investors widened exposure at lower levels, supported by increase in exports demand.
Marketmen said after yesterday’s sell-off, traders were covering up their bets at prevailing levels, motivated by the higher sentiments in the spot markets amid an acceleration in export demand for oil drilling industries.
In addition, falling value of the domestic currency to all time low of 70.09 against the US Dollar also helped to boost the exports demand, they added.
At the National Commodity and Derivatives Exchange, guar gum for November jumped by Rs 105, or 1.10 per cent, to Rs 9,656 per quintal with an open interest of 2,865 lots.
Meanwhile, delivery for October also improved by Rs 81, or 0.86 per cent, to Rs 9,535 per quintal, revealing an open interest of 63,525 lots. (PTI)

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