Guar seed futures ease on low demand

Guar seed prices on Tuesday edged lower by Rs 12 to Rs 3,672 per 10 quintal in futures trade as participants reduced their holdings in line with a weak spot market.

On the National Commodity and Derivatives Exchange, guar seed contracts for May delivery fell by Rs 12, or 0.33 percent, to Rs 3,672 per 10 quintal with an open interest of 2,600 lots.

For June delivery as well, the guar seed futures prices dropped Rs 12, or 0.33 per cent, to Rs 3,598 per 10 quintal with an open interest of 33,475 lots.

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