Guar seed futures slip on profit-booking, weak spot demand

Guar seed prices went down by Rs 90 to Rs 4,507 per quintal in futures trading today as participants indulged in reducing bets to book profits amid a weak trend at the physical markets.
At the National Commodity and Derivatives Exchange, guar seed for delivery in September moved down by Rs 90, or 1.96 per cent, to Rs 4,507 per quintal, having an open interest of 12,730 lots.
Guar seed for delivery in August too lost Rs 88, or 1.95 per cent, to Rs 4,432 per quintal, showing the business turnover of 75,530 open lots, marketmen said.
The fall in guar seed prices in futures market was mostly due to profit-booking by participants at current levels and a weak trend at the spot markets due to muted demand.

Moreover, persistent supplies from growing regions weighed on sentiments, they added.