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Guar gum futures gain on spot demand

New Delhi, Guar gum prices on Wednesday gained Rs 83 to Rs 6,281 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 December delivery traded higher by 1.34 per cent, or Rs 83, to Rs 6,281 per five quintal with an open interest of 1,170 lots.

The contracts for delivery in January traded higher by Rs 58, or 0.93 per cent, at Rs 6,307 per five quintal as open interest stood at 51,760 lots.

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