Guar gum futures prices dropped on Friday due to weak demand in the spot market and ample supplies, according to PTI. Traders offloaded their holdings, leading to a decline in prices.
New Delhi, May 24 (PTI) Guar gum prices on Friday dropped Rs 79 to Rs 10,852 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 June delivery fell Rs 79 or 0.73 per cent to Rs 10,852 per five quintals in 41,165 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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