Guargum tumbles as markets eye monsoon trends

NCDEX Guargum futures took a tumble today as WTI Crude oil futures slipped and markets eyed steady rainfall in major regions. IMD has forecast active monsoon over Haryana from July 28, with heavy to very heavy rain at isolated places on July 28-29. NCDEX Guargum futures for August are currently down 0.76% at Rs 11298 per tonne, adding to hefty losses seen in the last session. Meanwhile, WTI Crude oil futures slumped near one-week low around $81 per barrel. Weak oil prices tend to pull down Guargum as well used in crude oil extraction as a thickening agent.

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