Guargum sheds almost 3% on weak export demand

Speculators pare positions as lower offtake in domestic spot market fuels downtrend

Guargum prices lost Rs 250 to Rs 8,160 per quintal in future trading today as speculators pared positions amid a weak trend and low demand at domestic spot markets.

Marketmen said fall in exports and subdued demand at the domestic market mainly attributed sharp fall in guargum prices at futures trade.

At the National Commodity and Derivatives Exchange, guargum prices for delivery in November tumbled by Rs 250, or 2.97 per cent to Rs 8,160 per quintal, with an open interest of 24,731 lots.

Also, guargum for October delivery slipped by Rs 210, or Rs 8,070 per quintal, in an open interest of 115 lots.