Guar gum futures drop by Rs 62 per quintal

Guar gum prices came down by Rs 62 to Rs 8,254 per quintal in futures trade today as traders indulged in offloading holdings, driven by subdued spot demand as well as overseas trend.
Marketmen said trimming of positions by participants in the wake of a decline in prices at spot markets amid weak export demand, dragged down guar gum prices in futures trade here.
At the National Commodity and Derivative Exchange, guar gum for delivery in November contract slipped by Rs 62 or 0.75 per cent to Rs 8,254 per quintal, having an open interest of 1,750 lots.
Guar gum delivery for the most traded October contract also decreased by Rs 60 or 0.73 per cent to Rs 8,254 per quintal, revealing an open interest of 43,390 lots.