Guar gum futures drop 3 pc on tepid demand

Guar gum prices on Wednesday fell 3 percent to Rs 5,116 per five quintals in the futures market as traders offloaded their holdings in line with a weak trend at the spot market. On the National Commodity and Derivatives Exchange, guar gum for March delivery traded down by Rs 158, or 3 percent, to Rs 5,116 per five quintals in 335 lots.

Guar gum for April delivery eased by Rs 136, or 2.58 percent, to Rs 5,131 per five quintals in 46,685 lots. Marketmen said slackness in demand in the spot market and increased supplies from growing regions mainly exerted pressure on guar gum prices.