Guar seed futures slip on soft demand

Guar seed prices on Friday fell by Rs 8 to Rs 4,116 per 10 quintal in futures trade as participants reduced their holdings in line with a weak market trend.

Marketmen attributed the downward trend in guar seed prices to increasing supplies from growing regions.

On the National Commodity and Derivatives Exchange, guar seed contracts for January delivery fell by Rs 8, or 1.31 per cent, to Rs 4,116 per 10 quintal with an open interest of 41,350 lots.

Similarly, guar seed contracts for February delivery shed Rs 2, or 0.05 per cent, to Rs 4,176 per 10 quintal with an open interest of 78,880 lots.