Mumbai- Guar seed and Guar gum futures on National Commodity and Derivatives Exchange [NCDEX] weakened in early trade on Wednesday weighed down by selling pressure in the market.

Traders say that speculative selling and profit booking in guar futures has continued in the market. Guar prices were quoted slightly lower yesterday in leading spot markets in Rajasthan and Haryana.

On NCDEX, Guar seed Jan. contract traded lower by Rs.6 at Rs.1,677 per quintal. Volume traded so far for Jan. contract was noted at 3,700 tonnes

Dec. contract traded down by Rs.5 at Rs.1,634 per quintal while March contract traded at Rs.1,757 per quintal with a decline of Rs.6. Volume traded for Dec. and March contract was noted at 160 tonnes and 2000 tonnes respectively

On NCDEX, Guar gum Jan. contract traded at Rs.4,215 per quintal after a decline of Rs.8. Volume traded for Jan. contract was noted at 50 tonnes

Demat stock at the NCDEX warehouse, as of Dec.08 was 38,806 tonnes, while 1,542 tonnes were in process. For guar gum, demat stocks were at 5,603 tonnes and 160 tonnes in process. The MCX warehouses were stacked up with 2,747 tonnes as on Dec.10.