Guargum prices slumped by Rs 144 to Rs 6,993 per quintal in futures trade today after speculators offloaded their positions amid weak overseas demand.
Marketmen said trimming of positions by participants on higher carry-over stocks and reduced offtake in the spot markets mainly led to the fall in guargum prices here in futures trading.
Moreover, muted export demand too dampened trading sentiments, they added.
At the National Commodity and Derivative Exchange, guargum to be delivered this month contracts fell by Rs 144, or 2.02 per cent to Rs 6,993 per quintal, with an open interest of 18,425 lots.
Guar gum for most-active August contracts delivery also dipped by Rs 149 or 1.98 per cent to Rs 6,387 per quintal, having an open interest of 31,470 lots.
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