Guar seed futures fall by Rs 24.5 per quintal

Guar seed prices shed Rs 24.5 to trade at Rs 4,238 per quintal in futures trade Tuesday as investors cut down holdings due to weak trend at the physical markets.

Marketmen attributed the fall in guar seed futures to soaring stocks on relentless supplies from producing areas, amid withdrawal of support by guar gum makers in the spot markets.

At the National Commodity and Derivatives Exchange, guar seed for March-delivery contracts was trading lower by Rs 24.5, or 0.57 per cent, at Rs 4,238 per quintal with an open interest of 470 lots.

Contracts for April delivery also fell by Rs 21.5, or 0.5 per cent, to Rs 4,302 per quintal with an open interest of 1,10,020 lots.