Guar seed futures decline on low demand

Guar seed prices on Wednesday declined by Rs 32 to Rs 3,831 per 10 quintal in futures trade.

On the National Commodity and Derivatives Exchange, guar seed contracts for December delivery was trading down by Rs 32, or 0.83 per cent, at Rs 3,831 per 10 quintal with an open interest of 26,795 lots.

For January delivery, the futures prices decreased by Rs 33, or 0.84 per cent, to Rs 3,885 per 10 quintal with an open interest of 41,980 lots.

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