Guargum futures fall on selling pressure

NEW DELHI: Guargum prices declined by Rs 160 to Rs 11,070 per quintal in futures trading today, dragged down by off-loading of positions by participants on increased arrivals in the physical markets from growing belts.

At the National Commodity and Derivatives Exchange platform, guargum prices for February month contracts dipped by Rs 160, or 1.42 per cent to Rs 11,070 per quintal, in an open interest of 14,630 lots.

Guargum for delivery in March month also fell by Rs 160, or 1.41 per cent, to Rs 11,180 per quintal, clocking an open interest of 2,856 lots.

Marketmen said trimming of positions by speculators amids rising arrivals from growing regions mainly kept pressure on guargum prices in futures trade here.