Guarseed prices drifted lower by Rs 58 to Rs 3,545 per quintal in futures trading today as traders indulged in trimming their positions amid a weak trend at the physical markets due to shrinking demand.
Marketmen attributed fall in guarseed prices at futures trade to considerable fall in demand from guargum makers at the spot markets against persistent arrivals from growing regions
At the National Commodity and Derivative Exchange, guarseed for delivery in most-active November month dipped by Rs 58 or 1.61 per cent to Rs 3,545 per quintal, having an open interest of 57,270 lots.
In a similar fashion, delivery in the current month contracts lost Rs 54 or 1.52 per cent to Rs 3,504 per quintal, depicting an open interest of 42,410 lots.
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