Guargum futures turn weak on selling pressure

Guargum prices turned weak by Rs 210 to Rs 16,350 per quintal in futures trading today owing to increased selling by traders in line with weak physical markets sentiment.
Marketmen said acceleration in supplies amid slackness in demand on higher levels in spot markets, mainly attributed the fall in guargum prices at future markets.
Slow down in export demand too dampened the trading sentiments to some extent, they added.
At the National Commodity and Derivatives Exchange, guargum prices for second contract November month dropped by Rs 210, or 1.27 per cent, to Rs 16,350 per quintal, having an open interest of 5,407 lots.

First contract October month also declined by Rs 180, or 1.09 per cent, to Rs 16,270 per quintal, with an open interest of 7,091 lots.