Guar gum futures gain on spot demand

Guar gum prices on Wednesday gained Rs 102 to Rs 6,090 per five quintal in futures trade as speculators increased their holdings on spot demand.

On the National Commodity and Derivatives Exchange, guar gum contracts for January delivery traded higher 1.70 per cent, or Rs 102, to Rs 6,090 per five quintal with an open interest of 2,240 lots.

The contracts for delivery in February rose by Rs 101, or 1.67 per cent, to Rs 6,160 per five quintal as open interest stood at 52,525 lots.

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