Guar seed futures decline on low demand

Guar seed prices on Thursday eased by Rs 29 to Rs 3,980 per 10 quintal in futures trade.

On the National Commodity and Derivatives Exchange, guar seed contracts for January delivery was trading down by Rs 29, or 0.72 per cent, at Rs 3,980 per 10 quintal with an open interest of 59,015 lots.

For February delivery, guar seed prices decreased by Rs 34, or 0.84 per cent, to Rs 4,020 per 10 quintal with an open interest of 2,515 lots.

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