Guar gum futures prices fell sharply on Thursday, driven by weak demand and ample supplies in the spot market. Traders offloaded holdings, leading to a decline in prices.
New Delhi, Oct 17 (PTI) Guar gum prices on Thursday dropped Rs 47 to Rs 11,232 per quintal 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 November delivery fell Rs 47 or 0.42 per cent to Rs 11,232 per quintal in 54,725 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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