Guar gum futures shed further, dip by Rs 139 per quintal

Guar gum prices fell sharply by Rs 139 per quintal in the futures trade today as participants engaged in reducing their exposure amid a weak trend at the domestic physical markets.
Besides, a weak trend in global market too negatively impacted sentiment.
Marketmen said besides persistent offloading by speculators, weakness in its prices at spot markets on mounting stocks on higher supplies and muted demand also weighed on prices.
They said muted export demand too also put pressure on prices.
At the National Commodity and Derivative Exchange, guargum for delivery this month lost another Rs 139 or 1.72 per cent to Rs 7,960 per quintal, having an open interest of 19,935 lots.

While, guargum for delivery in most-active June month also dropped by Rs 139 or 1.69 per cent to Rs 8,100 per quintal, with the business turnover of 36,785 open lots.