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Guargum futures weaken by Rs 149 per quintal

Press Trust of India  |  New Delhi 

Guargum prices fell by another losing Rs 149 to Rs 7,200 per quintal as speuclators indulged in offloading their positions amid a weak trend at the physical markets.

Besides, subndued export demand too weighed on sentiments.

At the National Commodity and Derivative Exchange, guargum for delivery in June dropped by Rs 149 or 2.03 per cent to Rs 7,200 per quintal, with an open interest of 320 lots.

The most-traded delivery in July contracts also slipped by Rs 89 or 1.20 per cent to Rs 7,338 per quintal, having an open interest of 43,835 lots.

Marketmen said trimming of positions by speculators in sync with weak physical markets where prices rolled down due to constant supplies of guarseed from growing regions, kept pressure on guar gum prices in futures trade here.

Meanwhile, guar gum prices have fallen by nearly five per cent during two trading sessions.

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

First Published: Tue, June 20 2017. 12:32 IST