Guar seed prices dropped by Rs 58.50 to Rs 4,318.50 per quintal in futures trade today as investors cut down bets, driven by bearish physical markets trend.
Marketmen said subdued demand from guar gum makers amid bumper stock on persistent supplies from growing areas in the spot markets, put pressure on guar seed prices in futures trade.
At the National Commodity and Derivatives Exchange, guar seed for delivery in November contracts fell by Rs 58.50, or 1.34 per cent, to Rs 4,318.50 per quintal with an open interest of 7,760 lots.
In a similar fashion, the most-traded delivery in October dropped by Rs 51.50, or 1.19 per cent, to Rs 4,292 per quintal with an open interest of 1,09,460 lots.
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