Guar seed prices dropped by Rs 55.50 to Rs 3,608 per quintal in futures trade today as traders preferred to cut down their bets in tandem with subdued physical markets.
Marketmen said a weak trend at the spot markets due to ample stocks on persistent arrivals from growing areas amid withdrawal of demand from guar gum makers, led to fall in guar seed futures prices.
At the National Commodity and Derivatives Exchange, guar seed, contracts for delivery this month dipped by Rs 55.50 or 1.51 per cent to Rs 3,608 per quintal, with an open interest of 52,280 lots.
Guar seed for the most-active delivery in July dropped by Rs 54.50 or 1.46 per cent to Rs 3,668 per quintal, with the business turnover in 56,680 open lots.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)