Guar gum futures drop Rs 120 per quintal

Guar gum prices drifted lower by Rs 120 to Rs 7,804 per quintal in futures trading today after speculators offloaded positions amid a weak trend at the physical markets and muted global cues.
Marketmen said reducing bets by participants in line with a weak trend at the domestic spot markets led to a fall in guar gum prices in futures trade here.
Besides, lower advices from global markets too weighed on prices, they added.
At the National Commodity and Derivatives Exchange counter, guar gum delivery in June tumbled down by Rs 120, or 1.51 per cent, to Rs 7,804 per quintal, with an open interest of 50,425 lots.

Guar gum for delivery in current month also slipped by Rs 104, or 1.34 per cent, to Rs 7,680 per quintal, having an open interest of 700 lots.