New Delhi, September 22. Guar seed futures prices came under pressure on Tuesday amid adequate availability in the domestic market. On the National Commodity and Derivatives Exchange (NCDEX), the October delivery guar seed contract declined.

During trading, the October guar seed futures contract fell ₹29, or 0.42%, to ₹6,809 per quintal. The same contract had closed at ₹6,838 per quintal in the previous trading session. This marked a decline of ₹29 per quintal in one trading session.

According to NCDEX data, the October contract recorded an open interest of 68,010 lots on Tuesday. Adequate supply in the market was considered one of the key reasons behind the decline in prices.

Guar seed is one of the major crops in the agricultural commodities market, and its prices are influenced by domestic availability as well as demand conditions. Trader activity in the futures market and market expectations regarding future supply can also influence price movements.

Following Tuesday's decline, the market will focus on guar seed arrivals, demand and trader positioning in the coming trading sessions. If supply remains high, prices could continue to face pressure. However, the direction of prices will depend on new demand and supply data as well as market sentiment.

The October delivery contract's level of ₹6,809 per quintal remained the key price during Tuesday's trading. Compared with Monday's closing level, the decline reflects weakness in the guar seed futures market for now.