Guargum futures weaken on low domestic, export demand

Guargum prices fell by Rs 180 to Rs 8,530 per quintal in futures trade today as speculators reduced exposures amid weak domestic as well as export demand at prevailing higher levels.
At the National Commodity and Derivatives Exchange, guargum prices for June contracts dropped by Rs 180, or 2.07 per cent, to Rs 8,530 per quintal, with an open interest of 384 lots.
April contracts dipped by Rs 130, or 1.54 per cent, to Rs 8,310 per quintal, having an open interest of 12,682 lots.
Guargum for delivery in March was trading down by Rs 130, or 1.58 per cent, at Rs 8,110 per quintal, with an open interest of 590 lots.

Marketmen said sluggish demand against increased arrivals in physical markets mainly led to the fall in guargum prices at futures trade.
Further, persistent fall in overseas markets weighed on guargum prices, they added.