Guar gum futures fall Rs 198 a quintal on weak export demand

Guar gum prices tumbled by Rs 198 to Rs 9,440 per quintal in futures trade Friday as investors indulged in offloading their positions amid muted export demand.

Marketmen said cutting down of the holdings by investors, weak export demand for oil drilling industries and profit-booking led to falling in guar gum prices.

At the National Commodity and Derivatives Exchange counter, guar gum for delivery in far-month November contracts crashed by Rs 198, or 2.05 percent, to Rs 9,440 per quintal, with an open interest of 6,620 lots.

Likewise, the most-traded, delivery in October month contracts plummeted by Rs 178, or 1.87 percent, to Rs 9,345 per quintal, with the business turnover of 59,995 open interest lots.