Guar gum futures plummet on lower overseas cues

Guar gum prices rolled down by Rs 90 to Rs 7,915 per quintal in futures trading today on trimming of exposure by operators in tune with weak physical as well as overseas markets.
At the National Commodity and Derivatives Exchange, guar gum for delivery in October slipped by Rs 90, or 1.12 per cent, to Rs 7,915 per quintal, with an open interest of 13,360 lots.
The most traded delivery in November also dropped by Rs 89, or 1.09 per cent, to Rs 8,016 per quintal, with a business turnover of 40,475 open lots.
Marketmen said, the fall in guar gum prices in futures trade was mostly attributed to cutting down of positions by participants in sync with a weak trend at the domestic spot markets on subdued export demand coupled with muted global cues.