Guar gum prices dived by Rs 156 to Rs 9,210 per quintal in futures trade Monday as participants engaged in reducing their positions, triggered by weak trend at the physical markets on weak export and domestic demand.
Marketmen said offloading of the holdings by participants in sync with a subdued trend at the spot markets due to weak export demand led to the fall in guar gum prices in futures market here.
At the National Commodity and Derivatives Exchange, guar gum the contract for delivery in November dipped by Rs 156, or 1.67 per cent, to Rs 9,210 per quintal, with the business turnover in 10,840 open interest lots.
Likewise, the guar gum for the most-traded, delivered in October slipped by Rs 147, or 1.59 per cent, to Rs 9,090 per quintal, in an open interest of 50,580 lots.
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