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Guargum futures extend weakness

Press Trust of India  |  New Delhi 

Guargum extended its declining streak for yet another day with prices falling by Rs 83 to Rs 8,220 per quintal in futures trading today as traders engaged in reducing their positions in line with weak physical as well as overseas markets.

Marketmen said a weak trend at the domestic physical markets due to muted export demand amid ample stocks following persistent supplies from growing regions, kept pressure on guargum prices at futures trade.

At the National Commodity and Derivatives Exchange, guargum for delivery in May dropped by Rs 83, or 1 per cent, to Rs 8,220 per quintal, with an open interest of 16,660 lots.

In a similar fashion, guargum for delivery in April lost Rs 72, or 0.88 per cent, to Rs 8,094 per quintal, having an open interest of 48,495 lots.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, March 21 2017. 12:28 IST