Guarseed prices tumbled by Rs 190 to Rs 5,050 per quintal as export demand declined amid higher production estimates.
Besides, higher supplies in the market also weighed on the prices.
At the National Commodity and Derivatives Exchange, guarseed prices for the current contract in June plunged Rs 190, or 3.63 per cent, to Rs 5,050 per quintal, with an open interest of 15,625 lots.
Similarly, July contracts also plummeted by Rs 190, or 3.54 per cent, to Rs 5,170 per quintal, depicting an open interest of 11,334 lots.
Marketmen said in addition to weak export demand, increased supplies on higher production estimates, mainly weighed on prices.
