Guar gum futures fall on weak export demand

NEW DELHI: Guar gum prices receded by Rs.81 to Rs.7,955 per quintal in futures trading today following liquidation of positions by speculators amid fall in export demand.

Market men said off loading of positions by participants in sync with a weak trend in global markets, mainly weighed on guar gum prices at the futures market.

Besides, slackness in demand in the spot market from guar gum markets and increased supplies of guar seed from growing regions too put pressure on prices.

At the National Commodity and Derivatives Exchange, guar gum for delivery in June declined by Rs.81, or 1.01 per cent, to Rs.7,955 per quintal, with an open interest of 49,510 lots, showed a rise of 1.86 per cent from yesterday's business.

Similarly, guar gum for delivery this month dropped by Rs.78, or 0.99 per cent, to Rs.7,825 per quintal, having an open interest of 6,015 lots.