MUMBAI (Commodity Online): Guar Seed futures declined Monday on profit booking by the traders though firm export demand and limited stocks in the spot markets limited the downtrend.
In NCDEX guar seed February contract is trading at Rs.12185 per quintal, down by 2.90 per cent on 12:05 IST against the previous close.
In the morning session the contract traded at a range of Rs.12048-12550 per quintal. Open interest of the contract is 33980 lots and volume traded is 18700 lots for the time being.
Fears that FMC might continue its investigations related to high volatility and might take strict steps such as suspending brokers found guilty in manipulating prices also supported the futures to trade down.
Exports of Guar gum from April to October 2011 stood at 3.48 lakh tn a rise of 75.8 % compared to 1.98 lakh tn during the same period last year. In 2010-11 fiscal, Guar gum exports were almost doubled to 4.03 lakh tonnes compared to 2.1 lakh tonnes in 2009-10.
