Guar Gum Prices Edge Higher in March Contract
New Delhi, February 17: Guar gum prices moved higher in futures trading on Tuesday as speculators expanded their positions, tracking firm demand in the physical market.On the National Commodity and Derivatives Exchange, guar gum contracts for March delivery rose by Rs 9, or 0.09 per cent, to settle at Rs 9,965 per quintal. The contract had closed at Rs 9,956 per quintal in the previous session.
The uptrend was supported by increased participation in the market, with 59,375 lots traded during the session.
Strong Physical Market Trend Supports Futures
Market participants attributed the marginal rise in guar gum futures to a firm trend in the spot market. Traders reportedly increased their bets after observing sustained demand in physical markets, lending support to prices on the exchange.The modest gain reflects steady sentiment in the guar gum segment, with futures tracking underlying spot market strength.
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