Guar gum futures extend fall, down 1.88%

Guar gum prices fell by Rs 176 to Rs 9,166 per quintal in futures trade today as participants cut bets at current levels amid muted exports demand and weakness in the dollar against the rupee.

At the National Commodity and Derivatives Exchange, guar gum for the most-traded delivery in October dropped by Rs 176, or 1.88 per cent, to Rs 9,166 per quintal clocking an open interest of 59,130 lots.

Also, the delivery for November contract tumbled by Rs 108, or 1.15 per cent, to Rs 9,270 per quintal with an open interest of 770 lots.

Marketmen said, cutting down of bets by traders amid sliding export demand and appreciating rupee against the American currency, led to the fall in guar gum futures prices.