Guar Gum Prices Plummet Amid Weak Spot Market Trends

Guar gum prices fell by Rs 156 to Rs 10,021 per five quintals in the futures market due to decreased demand and ample supply. Traders offloaded their holdings, following the weak trend in the spot market.

In a significant development, guar gum prices took a sharp dip on Tuesday, plummeting by Rs 156 to trade at Rs 10,021 per five quintals in the futures market. This decline was largely attributed to traders offloading their holdings amid a pervasive weak trend in the spot market.

According to data from the National Commodity and Derivatives Exchange, guar gum for June delivery saw a decrease of Rs 156, or 1.56 percent, amounting to Rs 10,021 per five quintals in 11,280 lots.

Experts from the market highlighted that the dwindling demand for guar gum in the spot market, coupled with sufficient supplies from key growing regions, exerted downward pressure on the prices.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)