Guar gum prices plunged by Rs 214 to Rs 7,127 per quintal in futures trading today on cutting down of bets by speculators amid weak export demand.
Marketmen said offloading of positions by participants coupled with muted export demand against rising arrivals from growing belts in the spot markets, mainly weighed on prices in futures trading.
At the National Commodity and Derivatives Exchange, guar gum for delivery in far-month November plummeted by Rs 214, or 2.92 per cent, to Rs 7,127 per quintal, clocking an open interest of 10 lots.
Guar gum for delivery in October dropped by Rs 35, or 0.50 per cent, to Rs 7,030 per quintal, in an open interest of 41,995 lots.
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