Guar seed futures fall amid ample supplies

Guar seed prices on Wednesday declined in the futures market, weighed down by ample supplies from producing regions.

On the National Commodity and Derivatives Exchange (NCDEX), guar seed contracts for February delivery fell by Rs 61, or 1.08 per cent, to Rs 5,587 per quintal. The contract recorded an open interest of 51,440 lots.

Market participants said the fall in prices was largely due to increased arrivals of guar seed from key growing areas, which boosted overall market supply and put pressure on prices.

PTI DR DRR