Guargum futures fall, hurt by weak demand

Guargum futures traded lower by Rs 80 to Rs 8,330 per quintal in futures trading today as speculators indulged in trimming positions, triggered by subdued demand at the spot and weak cues from overseas markets.
In futures trading at the National Commodity and Derivatives Exchange, guargum prices for first contract October month delivery dropped further by Rs 80, or 0.95 per cent to Rs 8,330 per quintal, in an open interest of 19,252 lots.
Also, delivery in November month delivery dipped by Rs 50, or 0.59 per cent to Rs 8,450 per quintal, with an open interest of 19,252 lots.

Marketmen said weak demand from consuming industries in the spot markets amid ample stocks, mainly held prices in negative zone, weighed on guargum prices at futures trade here.