Guargum prices were down by Rs 70 to Rs 5,700 per quintal in futures trading today as participants reduced positions at prevailing higher levels, triggered by subdued spot demand and weak overseas cues.
In futures trading at the National Commodity and Derivatives Exchange, guargum delivery for December weakened by Rs 70, or 1.21 per cent, to Rs 5,700 per quintal, with an open interest of 579 lots.
Also, most-active delivery in January next year eased by Rs 30, or 0.52 per cent, to Rs 5,780 per quintal, having an open interest of 31,834 lots.
Marketmen said offloading of positions at current levels by speculators and mounting stocks position mainly led to the fall in prices.
