New Delhi: Guargum prices receded by Rs 81 to Rs 7,955 per quintal in futures trading today following liquidation of positions by speculators amid fall in export demand.
Marketmen said offloading of positions by participants in sync with a weak trend in global markets, mainly weighed on guargum prices at the futures market.
Besides, slackness in demand in the spot market from guargum markets and increased supplies of guarseed from growing regions too put pressure on prices.
At the National Commodity and Derivatives Exchange, guargum for delivery in June declined by Rs 81, or 1.01 per cent, to Rs 7,955 per quintal, with an open interest of 49,510 lots, showed a rise of 1.86 per cent from yesterday’s business.
Similarly, guargum for delivery this month dropped by Rs 78, or 0.99 per cent, to Rs 7,825 per quintal, having an open interest of 6,015 lots.
Source: india.com