Guar gum futures gain on spot demand

Guar gum prices on Tuesday gained Rs 31 to Rs 6,140 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 February delivery traded higher 0.51 per cent, or Rs 31, to Rs 6,140 per five quintal with an open interest of 24,140 lots.

The contracts for delivery in March traded higher by Rs 30, or 0.49 per cent, at Rs 6,209 per five quintal as open interest stood at 31,895 lots.

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