New Delhi, Feb 3 (PTI): Guar gum prices saw an upward trend on Monday, rising by ₹80 to ₹10,190 per quintal in the futures market, driven by increased speculative buying amid strong demand in the spot market.
On the National Commodity and Derivatives Exchange (NCDEX), guar gum contracts for March delivery recorded a 0.79% increase, trading at ₹10,190 per quintal. The contracts saw an open interest of 33,450 lots, reflecting heightened market activity.
Market analysts attribute the price surge to a firm trend in the physical market, prompting traders to raise their bets on the commodity. Strong demand and limited supply have further supported the bullish sentiment in the guar gum market.
Last updated by a enewsx:
