Guar gum futures decline on weak export demand
New Delhi: Guar gum prices eased by Rs 20 to Rs 8,760 per five quintal in futures trade Tuesday as traders cut down bets on subdued physical sentiments.
Besides, sell-off of positions by investors at upper levels, pessimistic physical markets due to weak export demand for oil drilling industries also dragged down guar gum prices in futures trade, marketmen said.
At the National Commodity and Derivatives Exchange, guar gum for delivery in June contracts dropped by Rs 20, or 0.23 per cent, to Rs 8,760 per five quintal with an open interest of 36,905 lots.
Similarly, the contracts for July delivery were down by Rs 28, or 0.31 per cent, to Rs 8,945 per five quintal with an open interest of 13,365 lots.