Guar gum prices were lower by Rs 80 to Rs 7,420 per quintal in futures trade today, dragged down by off loading of positions by speculators, tracking a weak trend at the spot markets on sagging export demand.
At the National Commodity and Derivatives Exchange, guar gum for delivery in July contracts dipped by Rs 80, or 1.07 per cent, to Rs 7,420 per quintal with an open interest of 50,280 lots.
In line with overall trend, guar gum to be delivered in October also traded lower by Rs 83, or 1.06 per cent, to Rs 7,725 per quintal in an open interest of 12,290 lots.
The slide in guar gum prices at futures trade was due to cutting down of holding by participants in tandem with a weak trends the spot markets on muted export demand against surging stocks on consistent supplies of guar seed from growing belts.
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