NEW DELHI, Sept 23: Guargum prices hit a daily lower limit by losing four per cent at Rs 17,710 per quintal in the futures trading today as traders off-loaded holdings due to weak spot markets as well as exporters demand.
Marketmen said apart from increased supply, slackness in demand from guargum makers and exporters such as oil exploration units, mainly pulled down guargum prices.
At the National Commodity and Derivatives Exchange, guargum for October delivery plunged by four per cent, or Rs 730 at Rs 17,710 per quintal, with an open interest of 896 lots.
Most active near November contract dropped by four per cent, or Rs 720 at Rs 17,440 per quintal, having an open interest of 2,713 lots.
Far December contract fell by Rs 540, or 2.99 per cent to Rs 17,530 per quintal, clocking an open interest of 116 lots. (PTI)
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