Guargum futures fall on weak overseas cues

NEW DELHI: Guargum prices fell sharply by Rs 390 to Rs 11,980 per quintal in futures trade today as participants trimmed positions amid weak export demand and higher supplies in domestic market.

At the National Commodity and Derivative Exchange, guargum for delivery in April dipped by Rs 390, or 3.15 per cent, to Rs 11,980 per quintal, with an open interest of 49 lots.

Similarly, the commodity for delivery in February lost Rs 330, or 2.76 per cent, at Rs 11,620 per quintal, having an open interest of 15,813 lots.

Besides, current month prices lost Rs 330, or 2.79 per cent, at Rs 11,480 per quintal with an open interest in 2,605 lots.