Guar gum futures slide on muted export demand

Guar gum prices were down by Rs 69 to Rs 8,623 per quintal in futures trade today as participants cut down exposure, triggered by weak exports demand at the spot markets.

At the National Commodity and Derivatives Exchange, guar gum for delivery in far-month July went down by Rs 69 or 0.79 per cent to Rs 8,623 per quintal, with an open interest of 3,105 lots.

Similarly, the most-traded delivery in June dipped by Rs 65 or 0.76 per cent to Rs 8,520 per quintal, in an open interest of 59,355 lots.

Marketmen attributed the fall in guar gum prices to trimming of positions by participants, tracking a weak trend at the spot markets due to falling export demand.