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Guar seed futures fall on rising stockpiles

Guar seed futures fall on rising stockpiles

New Delhi, Nov 26 (PTI) Guar seed prices went down steeply by Rs 13 to Rs 9,033 per quintal in futures trade Monday amid off-loading of exposure by investors in sync with a weak trend at the physical markets. At the National Commodity and Derivatives Exchange, guar seed for delivery in December moved down by Rs 103 or 1.13 per cent to Rs 9,033 per quintal, persisting an open interest of 83,080 lots. Similarly, the rates for January moved down by Rs 100 or 1.08 per cent to Rs 9,170 per quintal, open interest stood at 39,120 lots. Marketmen cutting down of positions by participants following a weak trend at the spot markets on soaring stocks against muted demand from guar gum makers, led to the fall in guar seed futures traded lower. PTI ADIADI