Guar gum futures soar Rs 118 per quintal

NEW DELHI, Jan 15: Guar gum prices shot up by Rs 118 to Rs 9,412 per quintal in futures trade today after participants created huge positions in tune with a firm trend at spot markets on rising export demand.
Markemen attributed the rising trend in guar gum prices at futures trade to a strong trend at the physical markets on the back of pick-up in export demand amid restricted arrivals of guar seed from growing regions.
At the National Commodity and Derivative Exchange, guar gum for delivery this month contracts was trading notably higher by Rs 116 or 1.25 per cent to Rs 9,412 per quintal, with an open interest of 240 lots.
Likewise, the delivery for the most-traded far-month February contracts went up by a whopping Rs 81 or 0.86 per cent to Rs 9,522 per quintal, with a business turnover of 78,805 open lots. (PTI)