Guargum prices crashed by Rs 380 per quintal in early trade in the futures market today after speculators offloaded positions, tracking weak global as well as domestic spot markets.
Marketmen said fall in demand, particularly from oil drilling industries in overseas markets, pulled down guargum prices here in future trade.
Besides, mounting supply pressure and slackened demand in markets also dampened trading sentiments, they added.
At the National Commodity and Derivatives Exchange counter, guargum delivery for October plummeted by Rs 380, or 3.96 per cent to Rs 9,220 per quintal, with an open interest of 18,521 lots.
On similar lines, delivery for November was also trading down by Rs 370, or 3.81 per cent to Rs 9,330 per quintal, having an open interest of 12,707 lots.
