Guar gum prices firmed up by Rs 249 to Rs 9,100 per quintal in futures trade today after participants created huge positions, taking positive cues from the physical markets on strong export demand.
Market players attributed the rally in guar gum futures prices to building up of fresh positions, tracking a firm trend at the spot markets on strong export demand.
Besides, the depreciating rupee against US dollar also supported the rise in guar gum prices at futures market here.
Exporters most revenue comes in the American currency.
At the National Commodity and Derivatives Exchange, guar gum for the most-traded delivery in October contract shot up by Rs 249 or 2,81 per cent to Rs 9,100 per quintal, with an open interest of 56,230 lots.
Guar gum for delivery in November contracts also gained Rs 176 or 1.96 per cent to Rs 9,150 per quintal, revealing an open interest of 385 lots.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)