Guarseed futures slip as speculators trim position

NEW DELHI, Sept 24: Guarseed prices tumbled Rs 55 to Rs 3,745 per quintal in futures trading today as participants trimmed their positions, tracking a weak trend at the physical market owing to muted demand.

Marketmen said apart from a weak trend at the spot markets due to sluggish demand from guargum makers, huge stocks on constant arrivals from growing regions, mainly led to the fall in guarseed prices.

At the National Commodity and Derivatives Exchange, guarseed delivery for the far-month January contracts dropped Rs 55, or 1.45 per cent, to Rs 3,745 per quintal and open interest stood of 1,120 lots.

Similarly, delivery for October contracts fell Rs 29, or 0.78 per cent, to Rs 3,666 per quintal and open interest depicted in 52,400 lots. (PTI)

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