Guar gum prices tumbled down further by Rs 105 to Rs 9,540 per quintal in futures trade today on renewed selling and weak export demand, even as rupee depreciated to a record low.
Marketmen said investors continually unwinding holdings due to weak export demand for oil drilling industries, despite a record fall in rupee value against the dollar.
Generally, the weaker rupee is favourable for the exporters because devaluation in rupee competes for the export in overseas.
The rupee dropped to touch a low of 71.79 against the dollar.
At the National Commodity and Derivatives Exchange counter, guar gum delivery for November slipped further by Rs 105 or 1.09 per cent to Rs 9,540 per quintal, with an open interest of 5,920 lots.
Meanwhile, the delivery of the most-traded first October declined by Rs 63 or 0.66 per cent to Rs 9,478 per quintal, showing the business turnover in 59,480 open interest lots.
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