Guargum prices plummeted by over 2% to Rs 10,300 per quintal in future trade today following heavy selling by traders in line with a weak spot markets cue.
Market analysts said apart from profit-booking by speculators at existing high levels and a weak trend in the spot markets mainly influenced the market sentiment.
Fall in export and domestic demand also dampened the trading sentiments, they added.
At the National Commodity and Derivatives Exchange, guargum prices for November delivery tumbled by Rs 231, or 2.19% to Rs 10,300 per quintal, with an open interest of 130 lots.
The prices for delivery in June slipped by Rs 136, or 1.36% to Rs 9,900 per quintal, with an open interest of 10,380 lots.
Similarly, gaurgum for July delivery dropped by Rs 133, or 1.30% to Rs 10,114 per quintal, recording an open interest of 47,800 lots.