Guar seed futures decline on low demand

Guar seed prices on Monday declined by Rs 68 to Rs 4,008 per 10 quintal in futures trade.

On the National Commodity and Derivatives Exchange, guar seed contracts for December delivery was trading down by Rs 68, or 1.67 per cent, at Rs 4,008 per 10 quintal with an open interest of 59,840 lots.

For January delivery, guar seed prices decreased by Rs 63, or 1.53 per cent, to Rs 4,054 per 10 quintal with an open interest of 5,565 lots.

Marketmen attributed the downward trend in guar seed prices to increasing supplies from growing regions.