Guargum futures slip by Rs 90 per quintal

Guargum prices declined by Rs 90 to Rs 6,090 per quintal in future trading today amid increased selling by participants in line with weak overseas and physical markets cue.
At the National Commodity and Derivative Exchange, guargum delivery for March month contract fell by Rs 90, or 1.46 per cent, to Rs 6,090 per quintal, in an open interest of 15,074 lots.
In a similar manner, the most-active delivery in February month also receded by Rs 80, or 1.31 per cent to Rs 6,020 per quintal, clocking an open interest of 26,841 lots.
Marketmen attributed fall in guargum prices to offloading of positions by speculators triggered by weak overseas cues amid subdued demand at the domestic spot markets.

Besides, increased arrivals of guarseed from growing regions too kept prices under pressure, they added.