Guarseed futures slide, fall Rs 33 per quintal

Extending its downward trend, guarseed futures traded lower by another Rs 33 to to Rs 3,739 per quintal today as participants engaged in trimming their holdings amid a weak trend at the physical markets.
Moreover, fall in export demand too weighed on prices.
At the National Commodity and Derivatives Exchange, guarseed 10-mt for delivery in November remained down and retreated by another Rs 33 or 0.87 per cent to Rs 3,739 per quintal, with an open interest of 33,440 lots.
In a similar manner, the most-active delivery in October lost Rs 29 or 0.78 per cent to Rs 3,706 per quintal, in an open interest of 71,720 lots.

Marketmen said apart from a weak trend at the spot markets due to muted demand from guargum makers against persistent supplies from growing regions, mainly dragged down prices further at futures trade here.