Guargum futures down on heavy selling
Guargum prices slumped by Rs 420 to Rs 13,830 per quintal in futures trading today on the back of selling by traders, guided by weak spot market sentiment.
By PTI |
NEW DELHI: Guargum prices slumped by Rs 420 to Rs 13,830 per quintal in futures trading today on the back of selling by traders, guided by weak spot market sentiment.
At the National Commodity and Derivatives Exchange, guargum for far December contract tumbled by Rs 420, or 2.95 per cent to Rs 13,830 per quintal, with an open interest of 23 lots.
Most active October contract dropped by Rs 110, or 0.78 per cent, to Rs 13,930 per quintal, in an open interest of 2,437 lots.
Marketmen said besides mounting of stocks, regular supplies against fall in physical markets demand mainly influenced guargum prices.
Thin export order from petroleum drilling industries also brought down the prices, they added.
The guargum is also used as a thickening and binding agent in food, textile, paper and pharmaceutical industry. India is the leading exporter behind Pakistan.
At the National Commodity and Derivatives Exchange, guargum for far December contract tumbled by Rs 420, or 2.95 per cent to Rs 13,830 per quintal, with an open interest of 23 lots.
Most active October contract dropped by Rs 110, or 0.78 per cent, to Rs 13,930 per quintal, in an open interest of 2,437 lots.
Marketmen said besides mounting of stocks, regular supplies against fall in physical markets demand mainly influenced guargum prices.
Thin export order from petroleum drilling industries also brought down the prices, they added.
The guargum is also used as a thickening and binding agent in food, textile, paper and pharmaceutical industry. India is the leading exporter behind Pakistan.
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