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Guar gum futures rise 1.87 pc on robust demand

Guar gum prices on Friday gained Rs 96 to Rs 5,240 per five quintal in futures trade as speculators increased their holdings on spot demand.

On the National Commodity and Derivatives Exchange, guar gum contracts for March delivery traded higher 1.87 per cent, or Rs 96, to Rs 5,240 per five quintal with an open interest of 175 lots.

Likewise, the contracts for delivery in April surged by Rs 150, or 2.89 per cent, to Rs 5,335 per five quintal as open interest stood at 41,385 lots.

Analysts said after tracking firm physical market trend, traders raised their bets which led to rise in guar gum prices. PTI