Guar seed prices futures fall due to rising stockpiles

Guar seed prices went down by Rs 13 to Rs 4,264 per quintal in futures trade Friday amid off-loading of exposure by investors in sync with a weak trend at the physical markets.

At the National Commodity and Derivatives Exchange, guar seed for delivery in October moved down by Rs 13 or 0.30 percent to Rs 4,264 per quintal, persisting an open interest of 83,080 lots.

Similarly, the rates for November moved down by Rs 11.50 or 0.27 percent to Rs 4,320 per quintal, open interest stood at 39,120 lots.

Marketmen cutting down of positions by participants following a weak trend at the spot markets on soaring stocks against muted demand from guar gum makers led to the fall in guar seed futures traded lower.