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Guar gum futures slump on tepid demand

Press Trust of India  |  New Delhi 

Guar gum prices on Tuesday came down by Rs 57 to Rs 7,544 per five quintal in futures trade as traders were indulged in offloading holdings, driven by subdued spot demand.

Marketmen said trimming of positions by participants in the wake of a decline in prices at spot market amid weak export demand dragged down guar gum prices in futures trade here.

On the National Commodity and Derivatives Exchange, guar gum contracts for December slipped by Rs 57, or 0.75 per cent, to Rs 7,544 per five quintal with an open interest of 44,925 lots.

For delivery in January, guar gum prices eased by Rs 63, or 0.82 per cent to Rs 7,647 per five quintal with an open interest of 24,555 lots.

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

First Published: Tue, November 26 2019. 13:25 IST