Guargum futures remain lower on weak export demand

Guargum prices dropped by Rs 197 to Rs 6,655 per quintal in futures trading today as traders indulged in trimming positions amid weak export demand.

Besides, constant supplies from growing regions amid limited offtake in spot markets also put pressure.

At the National Commodity and Derivatives Exchange, guargum for July delivery dipped by Rs 197, or 2.88 per cent, to Rs 6,655 per quintal, having an open interest of 34,435 lots.

Guargum for most-active October too fell by Rs 192, or 2.65 per cent, to Rs 7,043 per quintal, with a business turnover of 34,435 lots.