Extending its losing streak, guargum prices plunged by Rs 590, or 3.96 per cent, to Rs 14,320 per quintal in the futures trading today as speculators engaged in reducing their positions amidst weak spot and export demand.
At the National Commodity and Derivatives Exchange counter, guargum prices for delivery's in August month contracts plunged by Rs.590, or 3.96 per cent to Rs.14,320 per quintal, with an open interest of 11,526 lots.
On the similar lines, delivery in October month contracts plummeted by Rs.620, or 3.94 per cent to Rs.15,120 per quintal, having an open interest of 5,669 lots.
Marketmen said sentiments remained distinctly weak with guargum prices falling further due to weak domestic and export demand against increased supplies.
