Guarseed prices fell sharply by Rs 62 to Rs 3,555 per quintal in futures trading as speculators trimmed their positions amid subdued demand spot demand.
At the National Commodity and Derivative Exchange, guarseed for 10 mt, delivery in October dropped by Rs 62 or 1.71 per cent to Rs 3,555 per quintal, with an open interest of 92,070 lots.
Likewise, delivery in November month contracts too lost Rs 62, or 1.70 per cent at Rs 3,594 per quintal, clocking an open interest of 15,490 lots.
Marketmen said offloading of positions by speculators following fall in guarseed prices at futures trade was mostly due to weak demand from guargum makers at the physical markets, led to fall in guarseed prices at futures trade here.
Disclaimer: No Business Standard Journalist was involved in creation of this content
