Guar Seed futures ease on low demand

Guar seed prices on Monday edged lower by Rs 40 to Rs 3,484 per 10 quintal in futures trade as participants reduced their holdings in line with a weak spot market.

On the National Commodity and Derivatives Exchange, guar seed contracts for May delivery fell by Rs 40, or 1.14 per cent, to Rs 3,484 per 10 quintal with an open interest of 22,300 lots.

For June delivery as well, the futures prices dropped Rs 36, or 1.03 per cent, to Rs 3,470 per 10 quintal with an open interest of 27,290 lots.

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