Guargum futures remain lower on sluggish export demand

Guargum prices remained in negative territory for the third straight day by falling Rs 37 to Rs 7,676 per quintal as traders indulged in offloading positions, triggered by weak export demand.
Market players said muted export demand amid huge carryover stocks mainly kept guargum prices in red zone for the third consecutive day in futures trading.
At the National Commodity and Derivatives Exchange, guargum for delivery in far-month July slipped further by Rs 37, or 0.48 per cent, to Rs 7,676 per quintal, clocking an open interest of 19,500 lots.
Guargum for most-active June was also was trading lower by Rs 20, or 0.26 per cent, to Rs 7,540 per quintal, depicting an open interest of 37,355 lots.