Guargum futures tumble over 3%

Guargum prices fell sharply by by Rs 320, or 3.06 per cent to Rs 10,140 per quintal in future trading today after participants trimmed positions largely on weak demand at spot markets amidst subdued global cues.
At the National Commodity and Derivatives Exchange, guargum for delivery in current month (June) plunged by Rs 320, or 3.06 per cent to Rs 10,140 per quintal, with an open interest of 112 lots.
Also, most-active delivery in July dipped by Rs 280 or 2.65 per cent to Rs 10,290 per quintal, in an open interest of 13,289 lots.
Marketmen said slackness in demand from consuming industries against increased supplies in spot markets and weak global cues mainly weighed on guargum prices at futures trade.