Guarseed futures fall on weak spot market

Guarseed prices drifted lower by Rs 57 to Rs 3,668 per quintal in futures trading today after participants cut down their positions amid a weak trend at the domestic spot markets.
At the National Commodity and Derivative Exchange, guarseed for delivery in most-active October contracts dropped by Rs 47, or 1.27 per cent to Rs 3,668 per quintal, with an open interest of 98,100 lots.
Also, delivery in far-month November was trading lower by Rs 46, or 1.22 per cent to Rs 3,710 per quintal, in an open interest of 12,190 lots.
Marketmen attributed fall in guarseed prices to a weak trend at the physical markets amid higher supplies from growing regions.