Guargum futures spurt over 2%

December 21, 2015

Guargum prices surged by 2.10 per cent, to Rs. 6,310 per quintal in futures trade today as participants built up positions at existing levels amid a firming trend at the spot market and positive overseas cues.

At the National Commodity and Derivatives Exchange, guargum for delivery in January 2016 advanced by Rs. 130, or 2.10 per cent to Rs. 6,310 per quintal, with an open interest of 28,823 lots.

Also, guargum for delivery in February gained Rs. 130, or 2.07 per cent to Rs. 6,410 per quintal, in an open interest of 12,277 lots.

Marketmen said strengthening demand in the spot markets and positive overseas cues drove the upside in guargum prices at the futures trade.

October 13, 2015

Guargum prices were down by Rs. 240 to Rs. 8,560 per quintal in future trading today after participants locked—in gains at higher levels amid subdued domestic spot as well as global markets.

At the National Commodity and Derivatives Exchange, guargum for delivery in October contracts dropped Rs. 240, or 2.73 per cent, to Rs. 8,560 per quintal, in an open interest of 692 lots.

On similar line, guargum for delivery in most—active, November contracts also lost Rs. 240, or 2.67 per cent, to Rs. 8,760 per quintal, clocking an open interest of 25,881 lots.

Marketmen attributed fall in guargum prices to profit-taking coupled with low demand at the domestic market.