Guar seed futures slump

Guar seed prices on Monday fell by Rs 56 to Rs 3,994 per 10 quintal in futures trade as participants reduced their holdings in line with a weak market trend.

Marketmen attributed the downward trend in guar seed futures to weak demand in spot market amid increasing supplies from growing regions.

On the National Commodity and Derivatives Exchange, guar seed contracts for December delivery fell by Rs 56, or 1.38 per cent, to Rs 3,994 per 10 quintal with an open interest of 48,300 lots.

Similarly, the contracts for January delivery shed Rs 46, or 1.12 per cent, to Rs 4,046 per 10 quintal with an open interest of 70,735 lots