Guar gum prices drifted lower by Rs 96 to Rs 9,024 per quintal in futures trading today after participants cut down their holdings amid a weak trend at the spot markets on muted export demand.
Market players said the fall in guar gum prices at futures trade was mostly attributed to trimming of positions by participants, triggered by a weak trend at the spot markets due to feeble export demand.
At the National Commodity and Derivative Exchange, guar gum for the most-traded April weakened by Rs 96 or 1.05 per cent to Rs 9,024 per quintal, in a business turnover of 63,515 open lots.
In a similar way, the contracts for delivery in April looked down by Rs 95 or 1.03 per cent to Rs 9,126 per quintal, showing an open interest of 5,955 lots.
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