New Delhi, May 16
Guar gum prices witnessed an upward movement in Friday's futures trade, gaining ₹50 to settle at ₹9,770 per quintal, driven by heightened buying interest from speculators amid robust demand in the physical market.
Futures Trade Update
On the National Commodity and Derivatives Exchange (NCDEX), guar gum contracts for June delivery rose by 0.51 percent or ₹50. The contract was actively traded with an open interest of 50,960 lots, reflecting continued investor interest in the commodity.Market Drivers
According to analysts, the price uptick can be attributed to a bullish sentiment in the spot market. Traders ramped up their positions in response to firm demand, particularly from industries reliant on guar gum for applications in food processing, textiles, and oil drilling.The sustained demand in the physical market has reinforced optimism among speculators, further supporting price gains in the futures segment.
Guar gum remains a key export-oriented agricultural product for India, and any shifts in global or domestic demand patterns can have immediate repercussions in the trading environment.
