Guar gum futures extend fall, down Rs 45 per quintal

Guar gum prices fell by another Rs 45 to Rs 7,655 per quintal in futures trading today as traders engaged in trimming their holdings amid a weak trend at the domestic physical as well as global markets.
Marketmen said continued offloadng of positions by participants, triggered by a weak sentiments in spot markets due to ample stocks on steady inflow of arrivals from growing regions, which kept guar gum prices in futures trade here.
Besides sluggish export demand too negatively impacted sentiments, they added.
At the National Commodity and Derivative counter, guar gum for delivery in far-month July delivery dropped further by Rs 45 or 0.58 per cent to Rs 7,655 per quintal, in an open interest of 17,430 lots.

Guar gum for most-traded delivery in June contract also fell by Rs 32 or 0.42 per cent to Rs 7,508 per quintal, with the business turnover of 39,605 lots.