Guar Seed futures decline on low demand

Guar seed prices on Wednesday went down by Rs 17 to Rs 3,937 per 10 quintal in futures trade.

On the National Commodity and Derivatives Exchange, guar seed contracts for April delivery was trading at Rs 3,937 down by Rs 17, or 0.43 per cent per 10 quintal with an open interest of 23,970 lots.

For May delivery, the futures prices decreased Rs 13, or 0.32 per cent, to Rs 4,016 per 10 quintal with an open interest of 37,085 lots.

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