Guar gum futures decline on weak spot demand, global cues

NEW DELHI, May 2: Guargum prices were down by Rs 84 to Rs 8,410 per quintal in futures trading today amid increased off-loading by operators, tracking a weak trend at the physical markets and subdued overseas cues.
Marketmen said cutting down of positions by participants, taking weak cues from the spot markets on constant arrivals of guarseed from growing regions coupled with limited demand from guargum makers, weighed on prices.
Besides, slackness in export demand and muted cues from global markets too dampened the trading sentiments, they said.
At the National Commodity and Derivative Exchange, guargum for most-active June contracts receded by Rs 84 or 0.99 per cent to Rs 8,410 per quintal, in an open interest of 33,855 lots.
Guargum for delivery in May contracts also fell by Rs 81 or 0.97 per cent to Rs 8,275 per quintal, clocking an open interest of 22,455 lots. (PTI)


Please enter your comment!
Please enter your name here