Guargum futures decline on profit-booking

Guargum moved down by Rs 83 to Rs 7,689 per quintal in futures trading today after participants booked profits at prevailing higher levels amid a weak trend at the spot markets on muted export demand.
Marketmen said emergence of profit-booking at current levels coupled with a subdued trend at the spot markets due to absence of export demand led to the fall in guargum prices in futures trade.
At the National Commodity and Derivatives Exchange, guargum for delivery in May slipped by Rs 83, or 1.07 per cent, to Rs 7,689 per quintal, clocking an open interest of 630 lots.

Guargum for most-active delivery in June delivery also dropped by Rs 38, or 0.48 per cent, to Rs 7,897 per quintal, having an open interest of 51,705 lots.