Guar gum futures slip 0.28 pc on weak spot cues

Guar gum prices fell 0.28 per cent to Rs 9,060 per 5 quintal in futures trade Tuesday following off-loading of positions by operators amid a weak trend in the domestic market.

At the National Derivatives and Commodity Exchange, guar gum for April contracts slipped by Rs 25, or 0.28 per cent, to Rs 9,060 per 5 quintal with an open interest of 64,515 lots.

Marketmen attributed the decline in guar gum prices to off-loading of bets by participants tracking a weak trend at the spot market due to fall in export demand.

Guar gum for May also dropped by Rs 39, or 0.42 per cent, to Rs 9,180 per 5 quintal with an open interest of 2,820 lots.