Guargum prices dipped over 3 per cent to Rs 8,860 per quintal in future trading today as traders indulged in reducing positions amidst favourable rains in rowing areas and weak global cues.
At the National Commodity and Derivatives Exchange counter, guargum prices for delivery this month contracts lost Rs 280, or 3.06 per cent to Rs 8,860 per quintal, with an open interest of 402 lots.
Also, delivery in far-month October month plunged Rs 170, or 1.82 per cent to Rs 9,170 per quintal, in an open interest of 19,285 lots.
Marketmen said reports of favourable rains at growing belts coupled with weak trend overseas due to sluggish demand from consuming indsutries, led to a fall in guargum prices at futures trade here.
