Guar seed prices slackened by Rs 23.50 to Rs 4,509 per quintal in futures trade today as traders trimmed holdings on the back of discouraging spot markets leads.
Marketmen said, traders were reducing their holdings amid soaring stocks on persistent supplies from growing belts against weak demand from guar gum makers in the spot markets, which described down tick in guar seed futures prices.
At the National Commodity and Derivatives Exchange counter, guar seed delivery for November slipped by Rs 23.50 or 0.52 per cent to Rs 4,509 per quintal, clocking an open interest of 6,960 lots.
In a similar step, the delivery of the most-traded October ruled down by Rs 19 or 0.42 per cent to Rs 4,471 per quintal, revealing an open interest of 1,18,150 lots.
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