Guar gum futures dip further on lower export demand

Guar gum prices fell by another Rs 55 to Rs 7,393 per quintal in futures trade today as participants indulged in off-loading holdings, triggered by a weak trend at the physical markets amidst lower export demand.

Marketmen said trimming of holdings by participants in tune with a weak trend at the physical markets on mounting stocks following relentless arrivals of guar seed from growing belts, led to the fall in guar gum prices at futures market here.

Besides, slackness in export too weighed on prices, they added.

At the National Commodity and Derivatives Exchange, guar gum for the most-traded July slipped by Rs 55 or 0.74 per cent to Rs 7,393 per quintal, having an open interest of 47,125 lots.

Guar gum for delivery this month also declined by Rs 54 or 0.73 per cent to Rs 7,302 per quintal, with an open interest of 18,900 lots.