India guar futures dragged down by weak spot

MUMBAI, Oct 10 (Reuters) - Indian guar futures ended lower on Friday tracking a weak spot market, analysts said.

Arrivals have begun in Rajasthan and Haryana, the major growing states, two weeks ago. Daily average arrivals are about 15,000 bags of 100 kg each, traders and analysts said.

Spot prices fell by 17 rupees to 1,662 rupees per 100 kg in Bikaner, a major trading centre.

Higher output estimates may hinder a major rally in prices, according to report by Karvy Comtrade Ltd.

Combined open interest of guar seed futures fell to 235,800 tonnes from 237,410 tonnes in the previous trading session, while volume fell to 190,070 tonnes from 240,200 tonnes.

Following are the closing prices of guar seed and gum futures in rupees per 100 kg on the NCDEX <0#NGU:>.

Contract Reuters code Closing price Change in %

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Guar seed