Guarseed prices dropped by Rs 19 or 0.85 per cent to Rs 2,213 per quintal in futures trade today on fresh selling by traders amid weak spot market cues.
Marketmen said sluggish demand from guargum and cattle-feed makers, amid increased supplies from the growing regions in physical markets, mainly put pressure on guarseed futures.
Reports of good monsoon too helped to bring down the trading sentiment to some extent, they added.
At the National Commodity and Derivatives Exchange, guarseed futures prices for near July-month contract declined by Rs 19 or 0.85 per cent to Rs 2,213 per quintal, with an open interest of 1,10,690 lots.
Current June-month contract delivery also eased by Rs 12 or 0.54 per cent to Rs 2,212 per quintal, with an open interest of 83,200 lots.
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