Guar seed futures slide on soaring stock

Guar seed prices weakened by Rs 32.50 to Rs 4,312.50 per quintal in futures trade on liquidation of bets and thin demand in the spot markets.

Marketmen said plenteous availability of stocks in the market on good supplies from growing areas, and thin demand from guar gum makers in the spot markets mainly put weight on the guar seed prices.

At the National Commodity and Derivatives Exchange counter, guar seed delivery for the most-traded October declined by Rs 32.50 or 0.75 per cent to Rs 4,312.50 per quintal, revealing an open interest of 1,12,940 lots.

Meanwhile, the delivery for November slackened by Rs 22.50 or 0.51 per cent to Rs 4,370 per quintal, having an open interest of 12,690 lots.