Guarseed prices dropped by Rs 42 to Rs 3,118 per quintal in futures trading today on all round selling by traders, guided by weak demand in spot markets.
Market analysts said increased arrivals and sluggish demand in physical markets, sparked selling of guarseed here.
Lower demand from guargum making industries also kept the prices under pressure, they said.
At the National Commodity and Derivatives Exchange, guarseed prices for delivery in May dipped by Rs 42, or 1.33% to Rs 3,118 per quintal, with an open interest of 1,61,480 lots.
Likewise, its prices for delivery in June slipped by Rs 38, or 1.19% to Rs 3,165 per quintal, with an open interest of 72,680 lots.
