Guar gum decline on weak export demand

Guar gum prices fell by Rs 10

to Rs 9,248 per quintal in futures trade today as investors narrowed holdings, dampened by weak export demand.

Market players attributed the downturn in guar gum futures to weakness in export demand for oil drilling industries.

At the National Commodity and Derivatives Exchange, guar gum delivery for June contracts fell by Rs 10, or 0.11 per cent, to Rs 9,248 per quintal with a business turnover in 9,245 open lots.

Meanwhile, the delivery of May contracts fell by Rs 9, or 0.10 per cent, to Rs 9,131 per quintal with an open interest of 55,250 lots.