Guar seed futures edge lower on profit-booking

Guar seed prices turned weak by Rs 29.50 to Rs 4,453.50 per quintal in futures trade today as operators cut bets at higher levels in tandem with weak physical markets lead.

Marketmen said, traders cut down their holdings amid slowdown in demand from guar gum makers coupled with ample stocks on steady inflow of supplies of guar seed from producing belts in the spot markets, which marked the downtick in guar seed futures prices and ended two day's gaining run.

At the National Commodity and Derivatives Exchange, guar seed delivery for the November contracts fell Rs 29.50, or 0.66 per cent, to Rs 4,453.50 per quintal, with an open interest of 5,810 lots.

Similarly, the delivery of the most active October contract dropped by Rs 21.50, or 0.48 per cent, to Rs 4,431 per quintal with a business turnover of 1,14,680 open lots.