Guar gum futures surged on the National Commodity and Derivatives Exchange (NCDEX) due to increased demand and speculation, with October contracts reaching Rs 10,714 per quintal.
New Delhi, Sep 20 (PTI) Guar gum prices on Friday increased Rs 311 to Rs 10,714 per quintal in futures trade as speculators increased their holdings amid a firm spot demand.
On the National Commodity and Derivatives Exchange, guar gum contracts for October delivery traded higher Rs 311 or 2.90 per cent at Rs 10,714 per quintal with an open interest of 49,230 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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