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Guar gum futures drop further on low export demand

Press Trust of India  |  New Delhi 

gum prices fell further by Rs 44 to Rs 8,950 per in futures trade today following liquidation of the holdings by participants in tune with negative physical markets sentiment amid weak export demand.

Marketmen said, participants were off-loading holdings constantly in pressure of lower physical markets along with tepid export demand for oil drilling industries, which kept gum futures prices down for the second session today.

At the National Commodity and Derivatives Exchange, gum delivery for October dropped by Rs 44, or 0.49 per cent, to Rs 8,950 per quintal, with an open interest of 54,555 lots.

Similarly, the delivery of July contracts eased by Rs 22, or 0.25 per cent, to Rs 9,658 per with an open interest of 10,185 lots.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Tue, July 10 2018. 12:35 IST