Guarseed prices slumped by Rs 98 to Rs 3,707 per quintal in futures trading today largely on offloading of positions by speculators, tracking a weak trend at the spot markets.
At the National Commodity and Derivative Exchange, guarseed for delivery in far-month November contracts plunged by Rs 98, or 2.58 per cent to Rs 3,707 per quintal, having an open interest of 10,470 lots.
Also, guarseed for October month contracts fell by 95, or 2.52 per cent to Rs 3,675 per quintal, clocking an open interest of 98,270 lots.
Marketmen attributed fall in guarseed prices at futures trade to reducing of positions by participants amid a weak trend at the spot markets on subdued demand from guargum makers amid increased arrivals from growing regions.
