Guargum futures decline 2 per cent on profit-booking

Guargum prices were sharply down by Rs 170 to Rs 8,310 per quintal in futures trading today after participants locked in gains after yesterday's rally amid a subdued trend at the spot market.
Emergence of profit-booking by traders after yesterday's significant gains and a weak trend at the domestic spot markets due to weak demand led to the fall in guargum prices in futures trade here.
Besides, increased arrivals from growing regions weighed on guargum prices, they said.
At the National Commodity and Derivatives Exchange platform, guargum delivery for December contract dropped by Rs 170, or 2 per cent, to Rs 8,310 per quintal, with an open interest of 2,770 lots.

Similarly, most-active delivery in October month contracts moved down by Rs 140, or 1.70 per cent, to Rs 8,080 per quintal, having an open interest of 18,455 lots.