Guar gum futures drop on muted demand

Guar gum prices on Tuesday dropped by Rs 56 to Rs 7,773 per five quintal in futures market as traders offloaded their positions amid subdued demand.

Marketmen said trimming of positions by participants amid weak demand dragged down guar gum prices here.

On the National Commodity and Derivatives Exchange, guar gum contracts for January delivery slipped by Rs 56, or 0.72 per cent, to Rs 7,773 per five quintal in 28,280 lots.

Guar gum contracts for February delivery eased by Rs 54, or 0.68 per cent, to Rs 7,875 per five quintal in 43,465 lots.