Guargum prices slumped by Rs 620 to Rs 15,160 per quintal in futures trade today after participants reduced their exposures, tracking a weak domestic and global trend.
At the National Commodity and Derivatives Exchange, guargum for delivery in far-month January next year plummeted by Rs 620, or 3.93 per cent to Rs 15,160 per quintal, having an open interest of 490 lots.
Similarly, November contracts dipped by Rs 380, or 2.51 per cent to Rs.14,750 per quintal, with an open interest of 5,130 lots, while the most-active December month contracts fell by Rs 380, or 2.48 per cent to Rs 14,950 per quintal, in an open interest of 8,801 lots.
Marketmen said off-loading of positions by speculators, triggered by increased arrivals in the physical markets and favourable weather conditions in growing regions - Rajasthan and Gujarat- and a weak trend in overseas markets, mainly led to the fall in guargum prices in futures trade here.
