Guar seed prices fell by Rs 18 to Rs 3,600.50 per quintal in futures trade today as participants cut bets, driven by lower physical markets cues.
Market players attributed the down tick in guar seed futures prices to mounting of stocks on relentless supplies of guar seed from growing belts, fuelled by tepid demand from guar gum makers in the spot market.
At the National Commodity and Derivatives Exchange, guar seed delivery for July contract slipped by Rs 18, or 0.50 per cent, to Rs 3,600.50 per quintal, in an open interest of 71,540 lots.
Likewise, the delivery of the current contract June dropped by Rs 15, or 0.42 per cent, to Rs 3,543 per quintal as open interest stood at 34,250 lots.
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