Guar seed futures move down on soaring stocks

Guar seed prices rolled down by Rs 15 to Rs 3,840 per quintal in futures trade today after trimming of positions by the participants in line with discouraging physical markets lead.

Market players said narrowing of the bets by the investors in tune with weak physical markets due to mounting of stocks on steady inflow of supplies from growing belts along with sluggish demand for guar gum makers, dragged down the guar seed futures prices in the red zone.

At the National Commodity and Derivatives Exchange, guar seed delivery for July slackened by Rs 15 or 0.39 per cent to Rs 3,840 per quintal, with a business turnover of 56,050 open lots.

In a similar way, the delivery of the near contract August fell by Rs 14.50 or 0.36 per cent to Rs 3,983 per quintal, with an open interest of 45,540 lots.