New Delhi, March 3: Guar seed futures experienced a downward movement on Monday, slipping by Rs 21 to close at Rs 5,310 per quintal, driven primarily by increased market supply.
Trading at the National Commodity and Derivatives Exchange (NCDEX), guar seed contracts set for delivery in April witnessed a drop of Rs 21, reflecting a decline of 0.40%. At the session's close, open interest stood robustly at 27,725 lots.
Market analysts attributed this downward trend primarily to abundant guar seed arrivals from major producing regions. The ample availability of the commodity has exerted downward pressure on market prices, as supply continues to outpace current demand.
Traders anticipate prices may remain volatile in the short term, closely tied to ongoing supply dynamics.
