Guar gum prices drop by INR 12 in futures trade on profit-booking

Also, delivery for January contracts fell by Rs 2, or 0.02 per cent, to Rs 8,875 per quintal, while open interest stood at 70,380 lots.

Guar gum prices fell by Rs 12 to Rs 8,742 per quintal in futures trade Tuesday on profit-booking by traders at prevailing levels.

Marketmen said profit-booking by participants after recent gains amid slackness in export demand, led to the fall in prices.

Besides, mounting stocks of guar seed in the spot market on relentless supplies from growing belts amid fall in offtake by guar gum makers exerted pressure on guar gum prices at futures trade, they said.

At the National Commodity and Derivatives Exchange, guar gum for December slipped by Rs 12, or 0.14 per cent, to Rs 8,742 per quintal, in an open interest of 2,630 lots.

Also, delivery for January contracts fell by Rs 2, or 0.02 per cent, to Rs 8,875 per quintal, while open interest stood at 70,380 lots.