Guar seed futures fall on weak spot demand

Guar seed prices fell by Rs 24.5 to Rs 4,322 per 10 quintal in futures trade Tuesday as investors cut down their bets, driven by low demand at the spot market.

Marketmen said subdued demand on persistent arrivals from growing belts against withdrawal of support by guar gum makers also exerted pressure on guar seed prices here.

At the National Commodity and Derivatives Exchange, guar seed for June contracts slipped by Rs 24.5, or 0.56 per cent, to Rs 4,322 per 10 quintal having an open interest of 94,460 lots.

Besides, the contract for July eased by Rs 20.5, or 0.46 per cent, to Rs 4,389 per 10 quintal revealing an open interest of 14,830 lots