Guarseed futures prices fell by Rs 34 or 1.46 per cent to Rs 2,291 per quintal today owing to profit taking by speculators at higher levels in tandem with weak spot market cues.
Marketmen said reduced offtake by guargum and cattle-feed makers, amid increased supply from the growing regions in physical markets, mainly put pressure on guarseed futures.
At the National Commodity and Derivatives Exchange, guarseed for November contract declined by Rs 34 or 1.46 per cent to Rs 2,291 per quintal, with an open interest of 180 lots.
The commodity for June contract eased by Rs 6 or 0.27 per cent to Rs 2,238 per quintal, with an open interest of 11,240 lots.
Most active July contract also turned weak by Rs 8 or 0.35 per cent at Rs 2,259 per quintal, with an open interest of 1,41,450 lots.
