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Guar gum futures gain on spot demand

Guar gum prices on Thursday gained Rs 16 to Rs 5,956 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 January delivery traded higher by 0.27 per cent, or Rs 16, to Rs 5,956 per five quintal with an open interest of 25,330 lots.

Guar gum contracts for delivery in February rose by Rs 18, or 0.3 per cent, at Rs 6,021 per five quintal as open interest stood at 28,400


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