Guar seed futures decline on low demand

Guar seed prices on Friday declined by Rs 5 to Rs 3,864 per 10 quintal in futures trade.

On the National Commodity and Derivatives Exchange, guar seed contracts for December delivery was trading down by Rs 5, or 0.13 per cent, at Rs 3,864 per 10 quintal with an open interest of 34,130 lots.

For January delivery, guar seed prices decreased by Rs 6, or 0.15 per cent, to Rs 3,911 per 10 quintal with an open interest of 28,555 lots.

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