Guar gum futures rise on export demand

NEW DELHI, Feb 28: Guar gum prices were higher by Rs 84 to Rs 9,226 per quintal in futures trading today as traders created fresh positions at existing levels propelled by emerging physical market backed up by robust export demand.
Market players said besides rising prices in spot markets on tight supplies, strong export demand for oil drilling industries too gave upside push to the guar gum prices here in futures trade.
At the National Commodity and Derivative Exchange, guar gum delivery for the most traded March contract strengthened by Rs 84 or 0.92 per cent to Rs 9,226 per quintal, clocking an open interest of 42,555 lots.
Similarly, the delivery for the April month contract improved by Rs 75 or 0.81 per cent to Rs 9,331 per quintal, depicting an open interest of 34,605 lots. (PTI)