Guar seed futures decline on soft demand

Guar seed prices on Wednesday fell by Rs 36 to Rs 3,274 per 10 quintal in futures trade as participants reduced their holdings in line with a weak spot demand.

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 April delivery fell by Rs 36, or 1.09 per cent, to Rs 3,274 per 10 quintal with an open interest of 34,360 lots.

Similarly, guar seed contracts for May delivery shed Rs 35, or 1.05 per cent, to Rs 3,300 per 10 quintal with an open interest of 23,145 lots. PTI