NEW DELHI: Guargum prices slumped by Rs 370 to Rs 9,040 per quintal in futures trading today after participants reduced their exposures amid weak domestic and export demand.
At the National Commodity and Derivatives Exchange, guargum for delivery in far-month June contracts plummeted by Rs 370, or 3.93 per cent, to Rs 9,040 per quintal, with an open interest of 259 lots.
Also, the commodity for delivery in current month contracts was trading Rs 220, or 2.49 per cent, down at Rs 8,600 per quintal, having an open interest of 5,945 lots.
Market experts said sluggish demand at domestic spot markets and subdued export enquiries mainly weighed on guargum prices at futures trade here.