Guar seed futures skid on low demand

Guar seed prices slumped by Rs 107.50 to Rs 4,326.50 per quintal in futures trade today as traders preferred to cut their holdings, dampened by negative physical markets stance.

Marketmen attributed the downslide in guar seed futures prices to soaring stocks on non-stop arrivals from growing areas amid paucity of demand from guar gum makers at existing levels in the spot markets.

At the National Commodity and Derivatives Exchange platform, guar seed delivery for October dipped by Rs 107.50 or 2.42 percent to Rs 4,326.50 per quintal, revealing an open interest of 1,13,280 lots.

Likewise, the delivery for November slipped by Rs 103 or 2.30 percent to Rs 4,377 per quintal, with an open interest of 12,620 lots.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)