Guargum prices tumbled by Rs 125 to Rs 7,947 per quintal in futures trading today as participants indulged in cutting down their bets amid a weak trend at the physical markets on muted demand.
At the National Commodity and Derivative Exchange, guargum for delivery in far-month April conracts dropped by Rs 125 or 1.55 per cent to Rs 7,947 per quintal, with an open interest of 42,920 lots.
The guargum for delivery in current month too was trading lower by Rs 119 or 1.50 per cent to Rs 7,820 per quintal, having an open interest of 14,265 lots.
Marketmen said a weak trend at the domestic spot markets following constant supplies amid withdrawal of support at higher levels, mainly put pressure on guargum prices at futures trade here.
Besides, slackness in export demand too weighed on prices, they added.
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