Guargum prices shrinked by Rs 300 to Rs 7,700 per quintal in future trading today after speculators offloaded their positions amid weak trend at domestic spot as well as overseas markets.
At the National Commodity and Derivatives Exchange, guargum for delivery in November contract dipped by Rs 300, or 3.75 per cent to Rs 7,700 per quintal, with an open interest of 5,313 lots.
Guargum for delivery in far-month October too plunged by Rs 270, or 3.43 per cent to Rs 7,600 per quintal, in an open interest of 17,631 lots.
Marketmen said besides increased arrivals of guarseed from growing regions, a weak trend at domestic spot markets and a similar trend overseas led to the fall in guargum prices.
