Guar gum futures slip on weak spot cues

Guar gum prices fell by 1.54 per cent to Rs 8,774 per 5 quintals in futures trade Monday following offloading of positions by traders amid a weak trend in the physical market. Marketmen attributed the decline in guar gum prices to off-loading of bets by participants tracking a weak trend at the spot market due to fall in export demand.

On the National Derivatives and Commodity Exchange, guar gum delivery for June contracts slipped by Rs 137, or 1.54 per cent, to Rs 8,774 per 5 quintals with an open interest of 32,800 lots. Guar gum for delivery in July also dropped by Rs 172, or 1.9 per cent, to Rs 8,890 per 5 quintals with an open interest of 120 lots.