Guar seed prices shed Rs 73 to Rs 4,251 per quintal in futures trade Monday as investors were seen cutting down their holdings, dampened by weak trend at the physical markets.
Marketmen attributed the fall in guar seed futures prices to soaring stocks on relentless supplies from producing areas amid withdrawal of support by the guar gum makers in the spot markets.
At the National Commodity and Derivatives Exchange counter, guar seed delivery for delivery in November contracts was trading lower by Rs 73, or 1.69 per cent, to Rs 4,251 per quintal showing an open interest of 16,700 lots.
Also, the most-traded delivery in October contracts fell by Rs 69, or 1.62 per cent, to Rs 4,200.50 per quintal revealing an open interest of 1,06,920 lots.
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