Guar gum futures succumb to profit-booking

Guar gum prices were trading sharply down by Rs 118 to Rs 7,432 per quintal in futures trade today following profit-booking by speculators on higher levels coupled with a weak trend at the physical markets due to low demand.
Weak export demand too kept pressure on guar gum prices.
Marketmen said apart from profit-booking at current levels, ample stocks following acceleration in supplies against subdued demand, mainly attributed fall in guar gum prices in futures trade.
Moreover, weak export demand too weighed on prices, they added.
At the National Commodity and Derivatives Exchange, guar gum for delivery in July slipped by Rs 118, or 1.56 per cent, to Rs 7,432 per quintal, in an open interest of 32,950 lots.

Also, delivery in June fell by Rs 115, or 1.55 per cent, to Rs 7,293 per quintal, having an open interest of 23,765 lots.