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Guargum prices dropped by Rs.280 to Rs.16,000 per quintal in futures trading today after speculators locked-in gains at higher levels.
At the National Commodity and Derivatives Exchange counter, guargum for delivery in December shed Rs.280, or 1.72 per cent to Rs.16,000 per quintal, with an open interest of 16,020 lots.
Also, most-active delivery in October month lost Rs.250, or 1.53 per cent to Rs.16,110 per quintal, in an open interest of 16,110 lots.
Analysts said off-loading of positions by speculators at prevailing levels and increased supplies against slackened demand in the spot markets, mainly led to the fall in guargum prices at futures trade here.
