Guar gum up on export demand

Guar gum prices went up by Rs 24 to Rs 8,765 per quintal in futures trade today as participants enlarged their holdings, tracking a firm trend at the spot markets on strong export demand.

At the National Commodity and Derivative Exchange, guar gum for delivery in April gained Rs 24 or 0.27 per cent to Rs 8,765 per quintal, in an open interest of 24,050 lots.

Similarly, the delivery of the most-active, delivery in May advanced by Rs 23 or 0.26 per cent to Rs 8,867 per quintal, business turnover stood in 42,720 open lots.

Marketmen said raising of bets by players following a firm trend the domestic physical markets on the back of strong export demand, led the rise in guar gum prices at futures trade .