Guar Gum Surges Amidst Robust Market Appetite

Guar gum prices surged by Rs 55 to Rs 10,955 per five quintals in futures trade on Wednesday, boosted by increased speculative buying and strong spot demand.

Guar gum prices on Wednesday increased Rs 55 to Rs 10,955 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 55 or 0.50 per cent at Rs 10,955 per five quintals with an open interest of 40,690 lots.

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

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)