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Guar seed futures fall on rising stockpiles

Guar seed futures fall on rising stockpiles

New Delhi, May 8 (PTI) Guar seed prices went down by Rs 25 to Rs 4,543 per 10 quintal in futures trade Wednesday amid off-loading of exposure by investors on rising stocks. On the National Commodity and Derivatives Exchange, guar seed contracts for delivery in June moved down by Rs 25, or 0.55 per cent, to Rs 4,543 per 10 quintal with an open interest of 83,080 lots. Similarly, the rates for July contracts moved down by Rs 11.5, or 0.25 per cent, to Rs 4,618 per 10 quintal with an open interest of 39,120 lots. Marketmen said 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 here. PTI ADI RVKRVK