Guargum futures slide over 2 per cent

NEW DELHI:Guargum prices fell sharply by Rs 250, or 2.14 per cent, to Rs 11,410 per quintal in futures trading today after participants trimmed positions at prevailing higher levels amid subdued domestic and export demand.

At the National Commodity and Derivatives Exchange, guargum prices for July contracts dropped Rs 250, or 2.14 per cent, to Rs 11,410 per quintal, clocking an open interest of 4,019 lots.

Also, most-active June delivery slipped Rs 240, or 2.09 per cent, to Rs 11,240 per quintal, with an open interest of 14,123 lots.

Marketmen said profit-booking at higher levels amid higher arrivals and slackness in demand from consuming industries mainly pulled down the prices.

Furthermore, slackness in export demand from oil and drilling industries discouraged traders, they added.