Guar gum futures prices surged on the National Commodity and Derivatives Exchange due to strong demand in the spot market. Speculators fueled the rise, boosting open interest.
New Delhi, May 16 (PTI) Guar gum prices on Thursday increased Rs 52 to Rs 10,680 per five quintals in futures trade as speculators increased their holdings amid a firm spot demand.
On the National Commodity and Derivatives Exchange, guar gum contracts for May delivery traded higher Rs 52 or 0.49 per cent at Rs 10,680 per five quintals with an open interest of 47,860 lots.
Analysts said after tracking a firm physical market trend, traders raised their bets, which led to the rise in guar gum prices.
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