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Guargum price declined by Rs 80 to Rs 8,880 per quintal in future trading today following increased selling by participants in tandem with weak domestic spot demand and overseas market cues.
Traders said speculators preferred to offload holdings, guided by weakness in physical markets sentiment, where prices remained under pressure of increased arrivals of guarseed amid reduced offtake by industries.
Slackness in exports also influenced trading sentiments to some extent, they added.
At the National Commodity and Derivatives Exchange, guargum prices for delivery in March lost Rs 80, or 0.89 per cent, to Rs 8,880 per quintal, with an open interest of 15,282 lots.
February guargum shed Rs 70, or 0.70 per cent, to Rs 8,800 per quintal, having an open interest of 67 lots.
