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NEW DELHI: Guarseed futures continued to be asked on lower levels and prices dipped further in early trade on National Commodity and Derivatives Exchange (NCDEX) on Thursday following a favourable monsoon this season and weak demand in the spot markets.

At 1110 hours on the NCDEX, the June-month contract eased by 0.29 per cent to Rs 1,711 per quintal, with an open interest of 92,590 lots. The commodity for delivery in July dipped 0.34 per cent to Rs 1,740 per quintal, in an open interest of 101,890 lots , while the August contract fell by the same margin to Rs 1,767 per quintal, trading 7,100 lots.

Marketmen said continuous supply amid poor demand from guargum manufactures and exporters, mainly pulled down the futures prices. They said a volatile rupee against the dollar reduced demand among exporting units. - PTI

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