Guar gum futures drop 1.29% on sluggish export demand

Guar gum prices shed Rs 134 to Rs 10,259 per quintal in futures trade today after participants liquidated bets, tracking a weak trend in the spot market on subdued export demand.
Marketmen said offloading of holdings by participants amid a weak trend in the spot market, due to sluggish export demand, led to the fall in guar gum futures.
At the National Commodity and Derivative Exchange, guar gum for delivery in February contracts retreated by Rs 134 or 1.29 per cent, to Rs 10,259 per quintal, with an open interest of 17,015 lots.
Guar gum for delivery in March contracts also dropped Rs 136, or 1.29 per cent, to Rs 10,404 per quintal with an open interest of 64,065 lots.