Guar gum futures slide on global cues

Guar gum prices fell by Rs 56 to Rs 9,057 per quintal in futures trade today as participants engaged in cutting down their bets largely in line with weak trend overseas.

Marketmen said trimming of positions by participants and a weak trend in global markets weighed on guar gum prices at futures trade here.

Besides, higher supplies at the spot markets from growing centres too put pressure on prices.

At the National Commodity and Derivatives Exchange, guar gum for the most-traded delivery in May declined by Rs 56 or 0.61 per cent to Rs 9,057 per quintal, with an open interest of 53,050 lots.

In a similar manner, delivery in June contracts moved down by Rs 54 or 0.59 per cent to Rs 9,165 per quintal, clocking an open interest of 13,005 lots.