Guarseed prices plummeted by Rs 51 to Rs 3,873 per quintal in futures trade today as traders indulged in offloading their holdings, triggered by weak trend at the physical markets.
Marketmen attributed the fall in guarseed prices at futures trading to increased arrivals from growing regions against muted demand from gum manufacturers.
At the National Commodity and Derivative Exchange, guarseed for delivery in June prices slumped by Rs 51 or 1.30 per cent to Rs 3,873 per quintal, having an open interest of 55,620 lots.
Also, guarseed for delivery in current month was lower by Rs 49 or 1.27 per cent to Rs 3,817 per quintal, depicting an open interest of 49,080 lots.
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