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Guar seed futures fall by Rs 11 per 10 quintal

Guar seed prices fell by Rs 11.50 to Rs 4,223 per 10 quintal in futures trade Friday as investors were seen cutting down their holdings on weak trend at the physical market.

Marketmen attributed the fall in guar seed futures prices to soaring stocks on relentless supplies from producing areas amid withdrawal of support by the guar gum makers in the spot markets.

At the National Commodity and Derivatives Exchange counter, guar seed for delivery in March contracts was trading lower by Rs 11.50, or 0.27 per cent, at Rs 4,223 per 10 quintal, showing an open interest of 1,02,190 lots.

The most-traded delivery in April contracts also fell by Rs 14, or 0.33 per cent, to Rs 4,267 per 10 quintal with an open interest of 17,830 lots.