Mumbai Pressured by the weakness in physical markets on expectations of rainfall in guar-growing areas, guar seed and guar gum futures were trading slightly down amid heavy selling by traders and speculators during early hours of session on the National Commodity and Derivatives Exchange [NCDEX] Friday.

Spot guar prices declined marginally at major physical markets Thursday amid predictions of rainfall in major guar-growing areas in the country in the next three-four days. The standing crop of guar in non-irrigated areas in Rajasthan, Gujarat and Haryana is in urgent need of water. If rainfall does not occur within a few days, the standing crop would be damaged to larger extent, farmers said.

As on September 02, demat stock of guar seed in NCDEX-monitored warehouse was 56,991 tonnes whereas 399 tonnes were in process. Demat stocks of guar gum were at 6,291 tonnes while zero tonne were in process. MCX-accredited warehouses were stacking up 30 tonnes of guar seed as of September 02.

NCDEX September guar seed opened up Rs eight at Rs 1,774/quintal, and tossed between Rs 1,738 and Rs 1,780/quintal. At 11.17 am IST, the contract traded down Rs 21 at Rs 1,745/quintal with a volume 12,520 tonnes.

Benchmark November guar seed opened up Re one at Rs 1,825/quintal, and fluctuated between Rs 1,792 and Rs 1,825/quintal. At 11.16 am IST, the contract traded down Rs 25 at Rs 1,799/quintal with a volume of 78,410 tonnes.

NCDEX September guar gum opened down Rs 28 at Rs 4,335/quintal, and tossed between Rs 4,320 and Rs 4,340/quintal. At 11.05 am IST, the contract traded down Rs 28 at Rs 4,325/quintal with a volume of 90 tonnes.

Benchmark September guar gum opened down Rs seven at Rs 4,500/quintal, and saw movement between Rs 4,460 and Rs 4,500/quintal. At 11.16 am IST, the contract traded down Rs 47 at Rs 4,460/quintal with a volume of 340 tonnes.