 "Guarseed falls 3% on weak spot demand")
Guarseed prices drifted by Rs 165 to Rs 5,450 per quintal in futures trading today after speculators reduced positions on subdued spot demand against ample stocks amid increased arrivals from producing regions.
At the National Commodity and Derivatives Exchange, guarseed prices for delivery in August dipped by Rs 165, or 2.94 per cent, to Rs 5,450 per quintal, with an open interest of just 6 lots.
The June contracts also traded lower by Rs 110, or 2.05 per cent, at Rs 5,265 per quintal, having an open interest of 22,892 lots while May contracts fell by a similar margin to trade at Rs 5,115 per quintal with an open interest of 367 lots.
Marketmen said apart from subdued spot demand, adequate stocks following higher supplies from growing regions weighed on guarseed prices at futures trade.
At the National Commodity and Derivatives Exchange, guarseed prices for delivery in August dipped by Rs 165, or 2.94 per cent, to Rs 5,450 per quintal, with an open interest of just 6 lots.
The June contracts also traded lower by Rs 110, or 2.05 per cent, at Rs 5,265 per quintal, having an open interest of 22,892 lots while May contracts fell by a similar margin to trade at Rs 5,115 per quintal with an open interest of 367 lots.
Marketmen said apart from subdued spot demand, adequate stocks following higher supplies from growing regions weighed on guarseed prices at futures trade.
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