Guar seed dips on muted spot demand

Guar seed prices came down by Rs 21.50 to Rs 3,861 per quintal in futures trade today as speculators preferred to offload bets tracking a weak trend at the physical markets.

Market players said, fall in the guar seed prices was mostly attributed to trimming of positions by speculators in line with a weak trend at the spot markets and weak demand from guar gum makers against relentless arrivals from the producing belts.

At the National Commodity and Derivatives Exchange, guar seed for delivery in July moved down by Rs 21.50, or 0.55 per cent, to Rs 3,861 per quintal, open interest stood of 92,010 lots.

In a similar run, the rates for most-traded June was trading lower by Rs 18, or 0.47 per cent, to Rs 3,820 per quintal, with the business turnover of 92,010 lots.