Guargum prices fall 3.37% on weak overseas demand

Guargum prices plunged by 3.37 per cent to Rs 16,060 per quintal in futures trade today following all round selling by traders amid a weak global and spot markets sentiment.
Marketmen said besides fall in export demand, increased supply and slackness in demand in physical markets, weighed on futures.
At the National Commodity and Derivatives Exchange, guarseed prices for November contract dipped by Rs 560, or 3.37 per cent, to Rs 16,060 per quintal, with an open interest of 3 lots.
July contracts also dropped by Rs 220, or 1.43 per cent, to Rs 15,120 per quintal, having an open interest of 14,066 lots.

Meanwhile, July contracts lost Rs 150, or 1.00 per cent, to Rs 14,870 per quintal, in an open interest of 404 lots.