Guargum futures slip 1.62 % on muted demand

Guargum prices were down by 1.62 per cent to Rs 6,680 per quintal in futures trade today after participants trimmed their positions at prevailing levels amid subdued trend at domestic spot and overseas markets.
In futures trading at the National Commodity and Derivative Exchange, guargum for delivery in far-month February contracts surrendered Rs 110, or 1.62 per cent at Rs 6,590 per quintal, having an open interest of 17,331 lots.
Also, guargum for delivery in January was trading Rs 100, or 1.49 per cent down at Rs 6,590 per quintal and open interest depicted of 25,029 lots.
Market players said fall in demand at the spot markets amid pick-up in arrivals of guarseed from growing regions mainly weighed on guargum futures here.

Besides, weak global cues with crude oil prices falling in international kept pressure, they said.