Guar seed futures ease on low demand

Guar seed prices on Wednesday edged lower by Rs 20 to Rs 3,518 per 10 quintal in futures trade as participants reduced their holdings in line with a weak spot market.

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 20, or 0.57 per cent, to Rs 3,518 per 10 quintal with an open interest of 3,445 lots.

Similarly, guar seed contracts for May delivery shed Rs 62, or 1.73 per cent, to Rs 3,514 per 10 quintal with an open interest of 42,780 lots.PTI