Guargum futures slip on weak global cues, low export demand

Guargum prices dropped by Rs 90 to Rs 5,130 per quintal in futures trading today amid increased trimming of positions by participants and weak global cues.
Marketmen said the fall in guargum prices at futures trade was mostly attributed to offloading of positions by speculators, triggered by low demand.
Besides, increased arrivals of guarseed from growing regions too kept prices under pressure, they added.
At the National Commodity and Derivatives Exchange, guargum for delivery in June fell by Rs 90, or 1.72 per cent, to Rs 5,130 per quintal, in an open interest of 17,688 lots.
In a similar manner, guargum for delivery in July dropped by Rs 80, or 1.51 per cent, to Rs 5,220 per quintal, clocking an open interest of 26,687 lots.