New Delhi, May 12 — Guar gum prices witnessed a notable rise of Rs 127 to reach Rs 9,531 per quintal in Monday’s futures trade, propelled by increased speculative buying amid robust demand in the spot market.
On the National Commodity and Derivatives Exchange (NCDEX), the June delivery contract for guar gum climbed by 1.33 percent, settling at Rs 9,531 per quintal. The contract saw an open interest of 39,525 lots, indicating strong trader participation.
According to market analysts, price uptick was driven by a firm trend in the physical markets. Traders expanded their positions, anticipating continued demand and limited immediate supply, contributing to the bullish sentiment in the futures segment.
The price momentum underscores growing market confidence in the short-term outlook for guar gum, supported by stable consumption patterns and strategic speculative activity.
