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Guar gum futures gain on demand

Guar gum prices on Tuesday gained Rs 138 to Rs 6,491 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 September delivery traded higher 2.17 per cent, or Rs 138, to Rs 6,491 per five quintal with an open interest of 35,335 lots.

Likewise, the contracts for delivery in October traded up by Rs 143, or 2.22 per cent, at Rs 6,573 per five quintal as open interest stood at 10,760 lots.

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