Guargum prices plummeted by Rs 130 to Rs 6,858 per quintal in futures trade today as speculators indulged in reducing their exposure amid a weak trend at the spot markets on mounting inventories. Marketmen players said the fall in guargum prices at futures trade was mostly attributed to cutting short of positions by participants, triggered by mounting inventories and a weak trend in global market. At the National Commodity and Derivatives Exchange, guargum for this month delivery dipped by Rs 130, or 1.86 per cent, to Rs 6,858 per quintal, with an open interest of 1,185 lots. Guargum for most-traded delivery in October also dropped by Rs 123, or 1.71 per cent, to Rs 7,065 per quintal, having an open interest of 41,835 lots.
Guargum futures slump on rising inventories
Press Trust of India |