Guar seed prices dropped by Rs 11.50 to Rs 4,145 per quintal in futures trade today following trimming of bets by investors depressed by discouraging physical leads.
Market players said, traders minimised holdings in line with the market trend where prices ruled in red on mounting stocks due to constant supplies from growing regions amid withdrawal of support by guar gum makers at higher levels, which led to fall in its prices.
At the National Commodity and Derivatives Exchange, guar seed delivery for October slipped by Rs 11.50, or 0.28 per cent to Rs 4,145 per quintal, with an open interest of 84,010 lots.
The delivery for July contract slackened by Rs 11, or 0.27 per cent, to Rs 3,990 per quintal, having an open interest of 20,770 lots.
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