Guar gum futures fall further on weak export demand

Guar gum futures prices dropped by Rs 120 to Rs 10,024 per quintal in the futures trade today as operators engaged in liquidating positions on export demand in the spot markets.
At the National Commodity and Derivative Exchange, guar gum contracts for February dipped Rs 120, or 1.18 per cent, to Rs 10,024 per quintal, with an open interest of 13,275 lots.
Guar gum for March contracts fell by Rs 117, or 1.14 per cent, to Rs 10,176 per quintal with business turnover of 65,575 open lots.
Marketmen said a weak trend in the physical markets due to slackened export demand against persistent arrivals of guar seed from growing regions kept guar gum futures negative for the second straight day.