Guar seed futures decline on subdued demand

Guar seed prices fell by Rs 30 to Rs 4,217 per 10 quintal in futures trade on Monday as investors offloaded positions amid a weak trend at the spot market.

Marketmen attributed the downward trend in guar seed futures to thin demand at the spot market amid increasing supplies from growing regions.

On the National Commodity and Derivatives Exchange, guar seed contracts for December delivery moved down by Rs 30, or 0.71 per cent, to Rs 4,217 per 10 quintal with an open interest of 76,320 lots.

Similarly, guar seed contracts for January delivery eased by Rs 33, or 0.77 per cent, to Rs 4,248 per 10 quintal with an open interest of 25,170 lots.