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Guar gum futures decline on muted export demand

Guar gum futures decline on muted export demand

New Delhi, Apr 16 (PTI) Guar gum prices dropped by Rs 229 to Rs 9,091 per 5 quintal in futures trade Tuesday as traders cut bets on subdued physical sentiments amid lower export demand. At the National Commodity and Derivatives Exchange, guar gum for delivery in July slid by Rs 229, or 2.46 per cent, to Rs 9,091 per 5 quintal with an open interest of 10 lots. Similarly, the June-delivery contract shed Rs 215, or 2.34 per cent, to Rs 8,970 per 5 quintal with an open interest of 7,800 lots. Offloading of positions by investors at upper levels and pessimistic physical markets due to weak export demand from oil drilling industries dragged down guar gum prices in futures trade, marketmen said. PTI SHW RVKRVK