Guargum prices fell by Rs 180 to Rs 12,420 per quintal in futures trade today on increased stockists selling driven by weak physical markets sentiment.
Marketmen said tracking bearish signals from physical market due to comfortable stocks positions, traders preferred to reduce their holdings.
Slackness in export demand from US and Middle East oil drilling industries too dampened the sentiment, they said.
At the National Commodity and Derivatives Exchange, guargum for most active April contract dropped by Rs 180, or 1.43 per cent, to Rs 12,420 per quintal, with an open interest of 5,689 lots.
Current March contract slipped by Rs 170, or 1.37 per cent, at Rs 12,230 per quintal, in an open interest of 2,448 lots.
