Guar seed futures dip on weak spot cues

Guar seed prices slumped by Rs 154.50 to Rs 3,805.50 per quintal in futures trade today on offloading of bets by participants in line with weak physical market sentiment.

Market players said a weak trend at the physical market due to ample stocks on uninterrupted supplies from growing belts amid reduced offtake by guar gum makers, led to the fall in guar seed prices at futures trade here.

At the National Commodity and Derivatives Exchange, guar seed for the most-traded delivery in May tumbled down by Rs 154,50 or 3.90 per cent to Rs 3,805.50 per quintal, with the business turnover in 1,04,870 open lots.

In a similar fashion, the delivery of June contracts was quoting lower by Rs 148.50 or 3.72 per cent to Rs 3,848 per quintal, clocking an open interest of 55,490 lots.