Guar gum prices dropped by Rs 28 to Rs 9,340 per quintal in futures trade Friday on cutting down of the bets by the traders, dampened by subdued physical sentiments amid lower export demand.
According to marketmen, besides sell-off of positions by investors at upper levels, pessimistic physical markets due to weak export demand for oil drilling industries, dragged down the guar gum prices in futures trade.
At the National Commodity and Derivatives Exchange platform, guar gum delivery for the most active October slide by Rs 28 or 0.30 per cent to Rs 9,340 per quintal, with an open interest of 46,215 lots.
Likewise, the delivery of the November shed by Rs 28 or 0.29 per cent to Rs 9,465 per quintal, depicting an open interest of 19,230 lots.
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