Guargum futures plunge Rs 182 per quintal on profit booking

Guargum prices fell by Rs 182 to Rs 8,095 per quintal in futures trade today after participants booked profits at existing levels amid a weak trend at the domestic spot markets.
Besides, weak cues from overseas markets too weighed on prices.
Marketmen attributed steep fall in guargum prices to profit-booking by participants amid a weak trend at the spot markets on waining demand and increased supplies from growing regions.
At the National Commodity and Derivative Exchange, guargum for delivery in April contracts nosedived by Rs 182 or 2.20 per cent to Rs 8,095 per quintal with the business turnover of 54,140 lots.

In a similar fashion, guargum for delivery this month contracts dropped by Rs 165 or 2.03 per cent to Rs 7,950 per quintal in an open interest of 2,575 lots.