Guar Gum Futures Drop on Weak Demand
Jan 30, 2024 14:21
Guar gum futures prices fell on Tuesday due to weak demand in the spot market and ample supplies. Traders offloaded holdings, leading to a price drop of Rs 48 per five quintals on the National Commodity and Derivatives Exchange.
New Delhi, Jan 30 (PTI) Guar gum prices on Tuesday dropped Rs 48 to Rs 10,108 per five quintals in the futures market as traders offloaded their holdings in line with a weak trend in the spot market.
On the National Commodity and Derivatives Exchange, guar gum for February delivery fell Rs 48 or 0.47 per cent to Rs 10,108 per five quintals in 36,695 lots.
Marketmen said slackness in demand in the spot market and ample supplies from growing regions put pressure on guar gum prices.
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