Guar seed prices fell sharply by 2.28 per cent to Rs 4,239 per quintal in futures trade today as participants trimmed their holdings in view of a falling trend in the physical markets.
At the National Commodity and Derivatives Exchange, guar seed to be delivered in October suffered a steep loss of Rs 99, or 2.28 per cent, to Rs 4,239 per quintal with a business turnover of 1,04,360 open lots.
Similarly, the November contracts also plummeted by Rs 84, or 1.93 per cent, to Rs 4,278 per quintal with an open interest stood of 3,450 lots.
Marketmen attributed the slide in guar seed futures to cutting down of holdings by traders amid a weak trend at the spot markets due to increased supplies from growing belts and thin demand from guar gum makers.