Guarseed prices tumbled down by Rs 113 to Rs 3,452 per quintal in futures trade today on all round selling by traders in line with weak spot market sentiments.
Market players said heavy selling by speculators, driven by weak physical markets due to mounting of ready stocks on constant supplies from growing regions, sparked by muted demand from guargum makers mainly brought steep fall in guarseed prices.
At the National Commodity and Derivative Exchange, guarseed delivery for November contract slipped by Rs 113 or 3.17 per cent to Rs 3,452 per quintal, having an open interest of 13,960 lots.
Likewise, the delivery for most active October contract plummeted by Rs 110 or 3,13 per cent to Rs 3,410 per quintal, open interest noted in 98,250 lots.
Disclaimer: No Business Standard Journalist was involved in creation of this content
