Guargum far contract prices plunged by 3.95 per cent to Rs 5,840 per quintal in futures trading today following offloading of positions by participants on muted demand at domestic spot markets and weak overseas cues.
In futures trading at the National Commodity and Derivative Exchange, guargum for far-month May delivery slumped by Rs 240, or 3.95 per cent to trade at Rs 5,840 per quintal, clocking an open interest of 8 lots.
On similar lines, guargum for delivery this month dipped by Rs 70, or 1.24 per cent to Rs 5,570 per quintal, open interest stood of 20,434 lots.
Marketmen cutting down of bets by participants amid a weak trend at the domestic physical markets due to subdued demand and mounting stocks following persistent supplies of guarseed from growing regions, weighed on guargum prices at futures trade here.
