Guar seed futures slide 2.13 pc on weak cues

Guar seed prices rolled down by 2.13 per cent to Rs 4,412 per quintal in futures trade today depressed by weak spot markets stance, traders preferred to cut down holdings.

Marketmen attributed the immense downfall in guar seed futures prices to soaring stock on ceaseless supplies from growing regions, sparked by negligible demand for guar gum makers in the spot markets.

At the National Commodity and Derivatives Exchange counter, guar seed delivery for October slipped by Rs 96 or 2.13 per cent to Rs 4,412 per quintal, showing the business turnover of 1,23,030 open interest lots.

In a similar manner, the delivery of the November plummeted by Rs 89.50 or 1.97 per cent to Rs 4,450 per quintal, open interest stood of 7,900 lots.