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Guar gum futures slide as participants trim position

Press Trust of India  |  New Delhi 

gum prices rolled down by Rs 100 to Rs 8,350 per in futures today as traders opted to cutting down bets at prevailing levels amid muted export demand.

At the National Commodity and Derivatives Exchange platform, gum for delivery in May plunged by Rs 100 or 1.18 per cent to Rs 8,350 per quintal, with an open interest of 340 lots.

Also, the most-active delivery in June slipped by Rs 49 or 0.58 per cent to Rs 8,425 per quintal, having an open interest of 57,770 lots.

Market players said cutting down of positions by participants amid weak export demand along with increased supplies of seed from growing regions in the spot markets, led to fall in prices at futures market here.

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

First Published: Thu, May 17 2018. 12:45 IST