Guargum sheds more than 1% on weak domestic and export demand

Traders offload holdings as increased supplies fuel downtrend

Guargum prices dropped by Rs 260 to Rs 15,790 per quintal in futures trading today as traders preferred to offload holdings amidst weak domestic and export demand.

Marketmen said apart from increased supplies, slackness in demand and a weak overseas trend, mainly led to fall in prices.

At the National Commodity and Derivatives Exchange, guargum prices for delivery in the current month declined by Rs 260 to Rs 15,790 per quintal, with an open interest of 181 lots.

The most active November contract also weakened by Rs 140, or 0.87 per cent, to Rs 15,880 per quintal, in an open interest of 10,052 lots.